IMX Progressing to Resource Estimate for Chilalo Graphite Project

IMX Resources Ltd. (TSX:IXR,ASX:IXR) released an update on its Tanzania-based Chilalo graphite project, noting that a mineral resource estimate for it is coming close to completion. Furthermore, metallurgical testwork is “well advanced.”

Other highlights include:

• Technical advisory input continuing from graphite specialist with a long history of experience in the graphite industry.
• IMX has committed to fast-track the evaluation of a small-scale graphite development at Chilalo in the 25-50,000tpa production range. This has the advantage of lower capital costs, a faster timeline to production and reduced market risk.
• Early stage interest expressed in product offtake, plant design, procurement and construction as a result of positive reviews of the initial data and marketing samples.
• The Company has also commenced the processes required to obtain the necessary permits to allow project development to proceed and engaged a consultant to commence the Environmental and Social Impact Assessment process.

Phil Hoskins, CEO of IMX, commented:

We have demonstrated from the outset that we are committed to advancing the Chilalo Project as rapidly as possible. All of the indications so far are that we have a high-quality niche project which has all the attributes required to be a very attractive near-term development opportunity.

In light of the encouraging results from the high-level study, we have stepped up our marketing efforts, and have been actively engaging with various parties in China, Europe and North America who have expressed interest across various aspects of the project including product sales, plant design, procurement and construction.

This strong interest in the project is the result of a positive review of preliminary data from the metallurgical testwork and resource estimation, both of which are progressing extremely well and expected to be finalised in the coming week.

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