NIMY Resources Limited (ASX:NIM) Exploration Update, Major Discoveries Announced
Exploration Success in Western Australia
NIMY Resources Limited (ASX:NIM) has reported encouraging exploration results from its Mons Project, located in the Yilgarn Craton of Western Australia. The project is an emerging base and precious metals greenstone belt spanning approximately 90km by 30km.
Major Discoveries at Masson Prospect
The company made a notable discovery at the Masson Prospect with a sub-vertical copper lens exceeding 1% copper across four drill holes. The mineralisation zone extends for 240m along strike, containing copper, nickel, cobalt, platinum group elements, and silver.
Drill hole NRRC0100 returned significant results, including massive and semi-massive sulphides, with assays showing 0.73% nickel, 0.53% copper, and 0.55 g/t of two platinum group elements from various depths.
High-Grade Gallium Discovery
At Block 3, high-grade gallium has been identified, marking it as a critical metal for semiconductor manufacturing. The mineralisation extends 160m, with active discussions underway regarding potential off-take agreements as the company aims for a maiden gallium JORC Resource.
Exploration Priorities and Future Outlook
NIMY Resources plans to prioritise further drilling at the Masson and Block 3 sites. Soil sampling and modelling of VTEM anomalies are set to continue as the company also explores the strategic potential of their findings across other prospective areas in the Mons Project.
Executive Comments
Luke Hampson, Executive Chairman of NIMY Resources, stated, “The successes at the Masson Prospect and Block 3 highlight the exploration potential and value of our Mons Project, underlining our commitment to developing high-grade resources.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.