Strong Nickel Price Prompts Interest in IMX’s Ntaka Hill Project

IMX Resources Ltd. (TSX:IXR,ASX:IXR) announced that its Tanzania-based Ntaka Hill nickel project has received “strong, unsolicited interest” due to the rising nickel price.

As quoted in the press release:

The continuing appreciation in the nickel metal price has brought international attention to undeveloped deposits, particularly sulphide style mineralisation such as Ntaka Hill. Accordingly, the Company has opened a data room on the project with strong interest already received from a number of parties.

The Ntaka Hill Project hosts a current Measured and Indicated Resource of 20.3Mt at 0.58 per cent nickel and 0.13 per cent copper for 117,880 tonnes of contained nickel. The Inferred Resource is 35.9Mt at 0.66 per cent nickel and 0.14 per cent copper for 238,500 tonnes of contained nickel (see ASX announcement 19 August 2013). There is also exploration potential to expand the resource.

Click here to read the full IMX Resources Ltd. (TSX:IXR,ASX:IXR) press release.