IMX Announces Maiden Exploration Target for Chilalo Graphite Project

IMX Resources Ltd. (ASX:IXR) announced a maiden exploration target of about 100 to 350 million tonnes grading around 3 to 11 percent total graphitic carbon (TGC) for its Tanzania-based Chilalo graphite project.
Highlights include:

• Electromagnetic (‘EM’) conductor analysis demonstrates potential for significant resource growth.
• 34km of untested high-conductance EM targets with similarities to the Shimba Mineral Resource (Inferred Resource of 7.4Mt @ 10.4% TGC), where a 1km target has been tested (ASX Announcement 7 April 20151 ).
• Chilalo EM conductors cover only 5% of the 5,800km2 Nachingwea Property.

Phil Hoskins, CEO of IMX, commented:

While we don’t believe that resource size is the key value driver for graphite companies, recent exploration work at Chilalo – including a reassessment of drilling results and geophysical data – had enabled us to establish a more complete picture of the broader potential of the Chilalo Project to emerge as a significant global source of high-grade, coarse flake graphite. This analysis demonstrates that Chilalo has excellent resource growth potential to match that of some of our larger peers.

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