Massive and semi-massive sulphides from Tullsta project Source: Ragnar Metals
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Nimy Resources Ltd (ASX:NIM) has begun a series of geophysical surveys across three prospects – Masson, Block 3 and Vera’s Gossan – where it says it has discovered a 3,004 square-kilometre greenstone belt in Western Australia.

All three have been previously explored, and in the case of Masson and Block 3, drilling, rock chip sampling and surveying have already revealed the presence of massive sulphide mineralisation, hosting precious and base metals.

At Masson, this has included nickel, copper, colbalt and platinum grade metals (PGEs), while at Block 3, drilling has intersected copper, gold, and silver mineralisation in massive and disseminated sulphides – including pyrite, pyrrhotite and chalcopyrite – within mafic rock.

At Vera’s Gossan, previous exploration has revolved around rock chip sampling, with assays showing results of up to 2,750 parts per million (ppm) nickel, 1,119ppm copper, 1,370ppm cobalt, 3,180ppm zinc and 1,360ppm sulphur.

Nimy executive director Luke Hampson said the surveying work would expand on what drilling had already revealed at Masson and Block 3, and test for anomalies under Vera’s Gossan.

“The Company has to date identified a largely unexplored 3004km² greenstone belt with
thick komatiite flows in the southern tenements and now two occurrences of intrusive
related massive sulphide mineralisation in the north,” he said

“Vera’s is the second identified gossan following the Dease gossan. Gossans are hallmarks of significant discoveries at Kambalda and Forrestania.

“The EM strategy being undertaken should identify further mineralisation and a number of high priority drill targets at Vera’s with additional targets at Masson and Block 3.”

Nimy has been trading at 4.1 cents.

NIM by the numbers
More From The Market Online

Matador snaffles high grade copper play in Newfoundland

Matador Mining is set to add a high-grade copper play in the Canadian province of Newfoundland…

Matador drilling picks up new gold zone in Canada across 1.2km of strike

Matador Mining Ltd has identified a new gold zone through drilling work at its Malachite project…
The Market Online Video

ASX Market Update: Inflation spike to 4% pushes Australian market lower | 26 June 2024

A sour mood on the markets on Wednesday is set to continue as the ABS reveals…

Plagues precede widespread power shifts. We’re living in one – and minerals are at the fore

The one defining feature of our post-COVID 'new normal' is a USA swing towards domestic supply…