Study Confirms IMX’s Chilalo Project a ‘Near-term Development Opportunity’

IMX Resources Ltd. (TSX:IXR,ASX:IXR) announced that a consultancy group recently completed a high-level study into the feasibility of various development options for the company’s Tanzania-based Chilalo graphite project.

Phil Hoskins, CEO of IMX, commented:

The high-level study confirms that the Chilalo Graphite Project presents a near-term development opportunity and supports our decision to commence a pre-feasibility study focused on a smaller scale operation in the order of 25-50,000tpa of graphite concentrate.

The positive study outcome, coupled with the recent MOU with China-Base Ningbo, has laid the foundations for a successful graphite project at Chilalo. With the funding now flowing from the Fig Tree JV plus the recently concluded capital raising, we are in a strong position to rapidly advance Chilalo.

Highlights include:

• A high-grade mineral resource (Inferred Resource of 7.4Mt grading 10.7% TGC for 792,000t of contained graphite for the Shimba deposit);
• Excellent metallurgical characteristics, with initial testwork results showing a significant proportion of high-value large and jumbo flake material and the capacity to produce a high quality concentrate from basic flotation;
• Access to important existing infrastructure, including:
  • commercial deep water port of Mtwara, located 220km from Chilalo, via a sealed (~160km) and hard dirt road (~60km);
  • IMX’s Ntaka Hill camp, with offices, messing, accommodation, core storage, telecommunications and a sample prep laboratory;
  • water supply at site; o regional power grid to be extended to project area during 2016; and
• Excellent relationships with local communities and an established presence in the region through many years of exploration work at the Company’s Nachingwea Property.

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