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Nimy Resources (ASX: NIM) is pleased to announce that it is preparing to start the Phase 2 drilling program at its Block 3 gallium discovery in WA after securing Raglan Drilling to conduct the program.
The drilling is aimed at growing the extent of the known mineralisation over a further 400m strike length while also infilling the established mineralised area.
Nimy aims to complete a maiden JORC resource on Block 3 as soon as possible following completion of this program.
The resource will in turn assist the Company with its strategy to advance its collaboration agreement with US minerals specialist M2i Global.
The drilling will be funded by the proceeds of Nimy’s recently-completed share placement (see ASX release dated February 26, 2025).
M2i specialises in the development and execution of a complete global value supply chain for critical minerals for the US Government and US free trade partners.
Samples from the upcoming drilling will be used for metallurgical test work, including technical studies to test gallium extraction methods.
Nimy Managing Director Luke Hampson said:
"Block 3 is clearly a significant high-grade discovery with mineralisation already outlined over a substantial area.
“We have tested only a small portion of the highly prospective strike length, which gives us every reason to believe we stand to grow the size of the discovery.
“Gallium is a critical metal used in many cutting-edge technologies, including top- level military applications.
“Given that China supplies virtually all the world’s gallium and recently imposed restrictions on it, there is a huge opportunity for Nimy to play a role as a provider to the western world”.
Why the focus on Gallium?:
- Nimy Resources has, to our knowledge the highest grade non-aligned gallium project in the Western World;
- China has for the foreseeable future stopped the export of gallium to the US;
- Nimy is working with US minerals specialist M2i Global with the objective of providing a sustainable supply of gallium to the US government and Defense Industrial Base in support of the Department of Defense;
- Gallium has a rapidly evolving focus on the world stage, with exponential growth in the usage of: Semiconductors; 5G Technology; Power Charging; Green Technologies; Telecommunications; Medical Uses; Radar and Military Applications
- US and European Defence company stock prices have risen sharply amid growing calls for Europe to re-build its military capability;
- The US governments strategy to slash spending on Ukraine's defence has led European Governments to prepare for big increases in military spending;
- Estimates of the coming military spending boom extend into hundreds of billions of dollars;
- Europe will need to secure substantial supplies of critical metals in markets currently controlled by China;
- Australian gallium could be expected to be in strong demand as European military expenditure grows;
- Gallium prices are expected to follow demand with some projections for compound annual growth rate (CAGR) of 24.3% (*Source: researchandmarkets.com - Gallium Global Market Report 2024 – January 2024).
Figure 1: Total Projected Gallium market size (in USD Billion)*source: researchandmarkets.com (Gallium Global Market Report 2024 - January 2024)
Table 1: Total World Production 2024source: https://pubs.usgs.gov/periodicals/mcs2025/mcs2025-...
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NIM:AU
Drilling Commences at the Kanowna East Gold Project
Key Points
- High impact drilling has commenced at Kanowna East, targeting basement gold systems at the Western Tiger and Little Lake Prospects, only 25kms NE of Kalgoorlie.
- Program designed to test prospective structural settings and alteration zones along the Reidy Fault and newly recognised northeast gravity trends.
- Targeting the potential source of widespread paleochannel gold occurrences identified from historical drilling.
- Strong cash position of ~$3 million ensures a well-funded campaign and supports strategic exploration momentum.
Figure 1: Ragland Drilling RC Drill Rig at AX8’s Little Lake Prospect, Kanowna East Project.
The 2,000m reverse circulation (RC) program is testing structurally controlled, basement- hosted gold targets at the Western Tiger and Little Lake Prospects (Figure 2). These targets have been selected based on structural complexity, geophysical modelling, and geochemical signatures indicative of gold-bearing systems.
Figure 2: Western Tiger & Little Lake geology interpretation with planned RC drill hole locations (green triangles).
At Western Tiger, drilling is focused on the undrilled western margin of a felsic intrusive unit interpreted to have been emplaced along the Reidy Fault. Sericite alteration, arsenic- antimony pathfinder anomalies, and recent structural reinterpretations highlight the area as a priority for potential gold discovery.
At Little Lake, newly processed gravity data has defined northeast-trending features interpreted to intersect northwest fault systems—structural zones commonly associated with gold mineralisation in the Kalgoorlie district. These trends correlate with previously intercepted basement-hosted gold and offer a compelling test of the Company’s exploration model.
“Commencing drilling at Kanowna East marks an important milestone in Accelerate’s gold strategy,” commented Chief Executive Officer Luke Meter. “We’re testing targets with geological signatures consistent with major orogenic gold systems in the Eastern Goldfields and success could substantially enhance the value of our gold portfolio near Kalgoorlie.”
With a strong financial position, Accelerate remains well-funded to execute its exploration strategy across multiple growth-stage gold assets in WA.
The Company looks forward to updating shareholders as drilling progresses and assays become available.
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This article includes content from Accelerate Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Extensions and New Zones of High Grade Tin at Bygoo North
HIGHLIGHTS
- Scale of Bygoo Tin Project continues to grow with the discovery of new zones of tin mineralisation during the Company’s second RC drilling campaign
- Very broad zone of tin mineralisation at the Stewart’s Lode extended along strike with:
- 118m @ 0.32% Sn from 44m in BRC015 (unconstrained internal dilution); including
- 29m @ 0.53% Sn from 44m, including 8m @ 1.17% Sn from 45m
- 12m @ 0.45% Sn from 116m; and
- 28m @ 0.52% Sn from 146m
- Caspin’s maiden drilling at the Smith’s Lode returns further high-grade tin with:
- 16m @ 0.68% Sn from 49m (BRC013); including
- 5m @ 1.73% Sn & 1.45% Cu from 53m;
- Drilling identifies a further new zone of mineralisation named ‘Radius’, between Dumbrell’s and Smith’s, with:
- 16m @ 0.48% Sn from 124m (BRC016); including
- 2m @ 2.05% Sn & 0.37% Cu from 128m
- Wide zones and high-grade tin mineralisation now drilled over +1,000m of granite contact zone with large gaps in drilling and open along strike.
- High resolution aerial magnetic survey covering ~800km2 to commence shortly
Caspin’s Managing Director, Mr Greg Miles, commented “These results are an exciting epilogue to our maiden drilling program at the Bygoo Project. We are delighted with intersecting 16m @ 0.68% Sn in our first drill hole at Smith’s, including a high-grade zone of 5m @ 1.73% Sn, coupled with 1.45% Cu, the highest-grade copper result by Caspin to date. Another 100m-plus intersection of tin mineralisation at Stewart’s also confirms continuity of ‘bulk’ mineralisation, at very shallow depths. And finally, a new zone of tin mineralisation at ‘Radius’ result demonstrates verifies Caspin’s geological model and growing understanding of key controls to tin mineralisation.
“Most importantly, we now recognise the tin mineralisation potential over greater than 1,000m of shallow granite contact strike at Bygoo North. Drilling is quickly demonstrating that Bygoo North has excellent potential to grow into a tin project with substantial scale. Drilling will continue to target new zones of tin mineralisation and extensions of known areas of shallow tin mineralisation along strike.”
Since acquiring the project, the Company has invested considerable time to understand the geology and controls on mineralisation at Bygoo North. Using the previous exploration data as a base and steadily importing other legacy data such as drilling from the 1970s, the Company is developing a new geological model for the prospect. The Ardlethan Granite contact can now be traced over 1,000m at the prospect, with greisen-style mineralisation developed variably along its entirety (Figure 1).
Figure 1. Location plan of mineralisation and relationship to granite contact at Bygoo North, with significant intercepts. The prospective granite horizon represents the potential for greisen mineralisation on the granite contact to approximately 100m below surface.
These latest results provide further evidence that mineralisation is constrained only by drilling. There are obvious additional drill targets for further exploration. A planned high-resolution aerial magnetic survey, commencing in the following weeks, will further assist refinement of the geological model and hence the targeting process, particularly the several kilometres of untested granite contact to the north and south.
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This article includes content from Caspin Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.