IMX Resources Ltd. (TSX:IXR,ASX:IXR) announced that it’s started a diamond drilling program at its Tanzania-based Chilalo graphite project. The work is intended to underpin an upcoming prefeasibility study.

As quoted in the press release:

The drilling program will comprise 13 diamond holes for 1,400m of drilling, and will be focused on upgrading approximately half of the existing Inferred Resource at Chilalo1 to Measured and Indicated status.
The PFS is examining mining and processing operations to produce up to 50,000 tpa of quality graphite product.
Owing to the interpreted continuity of the mineralisation and its uniformity of grade across the Inferred Mineral Resource, a high conversion to the Measured and Indicated category is expected from this drilling.
The drilling program will also provide drill core for geotechnical studies, and for metallurgical optimisation and variability testwork. It will also be used to produce product samples for potential customers.

Phil Hoskins, CEO of IMX, commented:

This is a carefully targeted drilling program focused on de-risking the mineral resource. We aim to deliver a mineable resource to support the proposed small scale project, whilst minimising unnecessary expenditure by continuing to target mineralisation no deeper than 100m.
While the resource remains open and there is substantial exploration upside across the Chilalo project area, we will not be conducting any exploration drilling to expand the existing resource. Our strict focus remains on advancing the existing high-grade resource towards development.

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

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