IMX Resources Ltd. (TSX:IXR,ASX:IXR) announced that it’s identified two strongly conductive, high-quality drill targets near the high-grade Shimba resource at its Tanzania-based Chilalo graphite project.
IMX Resources Ltd. (TSX:IXR,ASX:IXR) announced that it’s identified two strongly conductive, high-quality drill targets near the high-grade Shimba resource at its Tanzania-based Chilalo graphite project. It did so via a fixed-loop electromagnetic survey.
- Two untested, high quality targets identified by a Fixed Loop Electromagnetic (FLEM) survey in close proximity to the existing high-grade Shimba resource at the Chilalo Graphite Project, Tanzania.
- New targets appear to represent extensions to the existing Shimba resource due to the similarity of their EM, magnetic and geological signatures to the high-grade mineralisation at the Shimba deposit.
- The new targets represent attractive, high-probability resource extension opportunities which may be drilled in the future to extend the mine life at Chilalo.
- FLEM surveying showing strong promise as an effective method of differentiating between lower grade and high-grade zones of graphite mineralisation in this area, where the VTEM has been ineffective.
Phil Hoskins, CEO of IMX, commented:
This is an excellent result for IMX, delivering two potential zones of new mineralisation at Shimba, but more importantly, offering a cost effective tool to help us prioritise future exploration targets prior to drilling.
The existing Shimba resource is already sufficient to support IMX’s proposed scale of operation at Chilalo, so there is no intention to drill these extensions at this stage. However, if we do require additional resources in the future, this drilling can be undertaken cost-effectively and with a high degree of confidence.