- Nimy Resources (NIM) announces “substantial” intersections from the first two diamond holes completed at the Godley prospect within its Mons project in WA
- The company says the large intervals confirm a “significant body” of nickel mineralisation at Godley
- Furthermore, a recent 487.2-metre intersection of komatiite ultramafic rocks at the Dease prospect reportedly indicates a large mineralising system at the Mons project
- Nimy is waiting on further results from Dease and is surveying both prospects to generate future drilling targets
- Company shares are down 13 per cent to trade at 30 cents at 1:38 pm AEST
Nimy Resources (NIM) has flagged “substantial” intersections from the first two diamond holes completed at the Godley prospect within its Mons project in WA.
These holes were the first to be drilled in the diamond program, which was completed earlier this month and aimed to improve the company’s understanding of the lithological, structural, depth and mineralisation information.
Nimy said both holes returned “substantial” intersections, with one of them intersecting 368 metres at 0.14 per cent nickel and 25.7 per cent magnesium oxide and the second hole returned 427 metres at 0.14 per cent nickel and 26.03 per cent magnesium oxide.
The company also said the results confirmed a significant body of potential nickel mineralisation at the Godley prospect.
Executive Director Luke Hampson said the results of the first diamond holes provided a “wealth of information”.
“The nickel, copper, sulphur, magnesium oxide associations carried within the komatiite indicate a fertile setting for nickel sulphides. The Nimy exploration strategy is targeted at significant high-grade massive nickel sulphides and large, low-grade nickel deposits,” Mr Hampson said.
“The substantial intervals of nickel mineralisation also further the possibility of a large, low-grade deposit similar to those progressing around the world cognisant of forecast supply shortages.”
Nimy is also waiting on drill results from the Dease prospect, where a 487.2-metre intersection of komatiite ultramafic rocks was logged. The company said this is indicative of a large mineralising system at the Mons project.
The company is undertaking follow-up survey work to assist with generating future drill targets.
Nimy shares were down 13 per cent to trade at 30 cents at 1:38 pm AEST.