IMX Reports Significant New Nickel Sulphide Intersections at Its Ntaka Hill Project

IMX Reports Significant New Nickel Sulphide Intersections at Its Ntaka Hill 
Project 
PERTH, AUSTRALIA -- (Marketwire) -- 03/03/13 --  
Highlights 


 
--  "Zeppelin" nickel sulphide deposit identified with current strike extent
    of approximately 450m, within the Ntaka Hill Project area 
    
--  Near surface mineralisation may be amenable to open-pit mining 
    
--  Mineralisation intersected in fourteen drill holes including: 
    
    --  37m at 0.71% Ni and 0.15% Cu from 129m including 8m at 1.13% Ni and
        6m at 1.65% Ni 
        
    --  26.7m at 0.77% Ni and 0.15% Cu from 93m including 2.1m at 2.8% Ni 
        
    --  30.1m at 0.69% Ni and 0.16% Cu from 123m including 2.1m at 1.87% Ni 
        
    --  60m at 0.46% Ni and 0.11% Cu from 39m including 5m at 1.01% Ni 
        
--  Mineralisation open along strike and down dip 

 
IMX Resources Limited (TSX:IXR)(TSX:IXR.WT)(ASX:IXR) ('IMX' or the
'Company') is pleased to report significant new nickel sulphide
intersections from the drilling campaign completed in November 2012
at the Zeppelin deposit, within the Ntaka Hill Nickel Sulphide
Project (the 'Ntaka Hill Project').   
The 20102 drilling campaign at Zeppelin consisted of nineteen diamond
drill holes totaling 3,283m and tested a target generated by
re-examination of previous drill hole results and information
obtained from earlier soil sampling. Looking ahead, the Company plans
to not only utilize existing electro-magnetic conductor data in
identifying drill targets, but will also focus on soil geochemistry
results together with the results from gravity survey work and other
historical data available from previous exploration, a multi-layered
approach not used before at Ntaka Hill. This is expected to enable
the Company to compile models to predict the likely occurrence of
mineralisation within the areas between Ntaka Hill and Lionja.  
Managing Director Neil Meadows commented: "We are excited by the
results of the Zeppelin drilling which further confirm the existence
of additional mineralisation in close proximity to Ntaka Hill. First
up success from the application of a multi-layered approach to target
generation at Ntaka Hill is extremely encouraging and as a result of
this success we are now even more confident that there is additional
mineralisation to be found in close proximity to the current known
Resources at Ntaka Hill. As part of the 2013 exploration program, we
will also be introducing the most appropriate electro-magnetic and
induced polarization technology to enable us to better target the
near-surface, higher grade mineralisation evident in these
intersections."   
Figure 1 on the following page shows the location of the Zeppelin
deposit and its proximity to the Sleeping Giant resource and other
areas of known mineralisation on the Ntaka Hill Project area. The
Company has previously delineated a Measured and Indicated Mineral
Resource of 12.79Mt at 1.21% Ni for 154,700 tonnes of contained
nickel together with an Inferred Mineral Resource of 45.0Mt at 0.30%
Ni for 135,000 tonnes of contained nickel.1  
(1) ASX announcement, 5 March 2012  
To view "Figure 1. Location of Zeppelin deposit" please visit the
following link: http://media3.marketwire.com/docs/Zeppelindeposit.pdf 
The Company had previously identified an exploration target with a
potential quantity and grade of approximately 3.5Mt to 4.0Mt at 0.6%
Ni to 0.7% Ni, however in light of encouraging metallurgical testwork
results from nearby mineralisation which appears to be similar to
that present at Zeppelin, the Company now estimates the exploration
target to have a potential quantity and grade of approximately 9.0Mt
to 11.0Mt at 0.4% to 0.7% Ni.  
It should be noted that the potential quantity and grade of the
exploration target is conceptual in nature, and there has been
insufficient exploration to define a mineral resource and it is
uncertain if further exploration will result in the exploration
target being delineated as a mineral resource.  
Results for fourteen holes totalling 2,445m were received and a
summary of significant intersections is shown in Table 1  
Table 1. Summary of significant intersections from Zeppelin deposit
drilling 


 
----------------------------------------------------------------------------
                Location                                                    
              East/North          Length    From     To Interval    Ni    Cu
Hole ID        UTM:WGS84 Az / Dip     (m)    (m)    (m)      (m)   (%)   (%)
----------------------------------------------------------------------------
NAD12-336 450775/8883398   99/-67     160     47     87     40.0  0.40  0.11
----------------------------------------------------------------------------
NAD12-336                                    111  114.1      3.1  0.50  0.14
----------------------------------------------------------------------------
NAD12-337 450888/8883275  100/-64     180    116    126     0.45  0.45  0.08
----------------------------------------------------------------------------
NAD12-338 450860/8883400   93/-69     126     40     71     31.0  0.34  0.08
----------------------------------------------------------------------------
NAD12-339 450961/8883275   99/-59     126     38     48     10.0  0.40  0.12
----------------------------------------------------------------------------
NAD12-339                                     60     63      3.0  0.41  0.07
----------------------------------------------------------------------------
NAD12-340  459998/883175   95/-65     180     37  46.65     9.65  0.53  0.10
----------------------------------------------------------------------------
NAD12-341 451069/8883125   89/-70     147     93  119.7     26.7  0.77  0.15
----------------------------------------------------------------------------
Incl.                                        117  119.1      2.1  2.80  0.43
----------------------------------------------------------------------------
NAD12-342 451010/8883050   99/-63     222     88  101.1     13.1  0.48  0.14
----------------------------------------------------------------------------
NAD12-342                                    144    151      7.0  0.51  0.26
----------------------------------------------------------------------------
Incl.                                     149.05 149.45      0.4  2.29  2.69
----------------------------------------------------------------------------
NAD12-342                                    157    184     27.0  0.52  0.16
----------------------------------------------------------------------------
Incl.                                     181.85    183     1.15  1.79  0.51
----------------------------------------------------------------------------
NAD12-343 450944/8883174   94/-66     180    123  153.1     30.1  0.69  0.16
----------------------------------------------------------------------------
Incl.                                      130.9    133      2.1  1.87  0.32
----------------------------------------------------------------------------
Incl.                                     142.25  146.2     3.95  1.50  0.41
----------------------------------------------------------------------------
NAD12-344 451053/8883174   98/-65     160     98    113     15.0  0.86  0.15
----------------------------------------------------------------------------
Incl.                                      98.85   99.4     0.55  3.58  0.43
----------------------------------------------------------------------------
NAD12-345 450834/8883350   94/-69     159     39     99     60.0  0.46  0.11
----------------------------------------------------------------------------
Incl.                                         69     74      5.0  1.01  0.39
----------------------------------------------------------------------------
Incl.                                      87.45   87.7     0.25  2.98  0.27
----------------------------------------------------------------------------
Incl.                                       95.6  95.85     0.25  3.03  0.33
----------------------------------------------------------------------------
NAD12-346 450970/8883129   96/-69     190   74.0   78.0      4.0  0.42  0.10
----------------------------------------------------------------------------
NAD12-346                                  132.0  140.0      8.0  0.37  0.08
----------------------------------------------------------------------------
NAD12-347 450703/8883388   96/-71     177    150    169     19.0  0.61  0.14
----------------------------------------------------------------------------
NAD12-348 450802/8883275   88/-64     247    104    123     19.0  0.44  0.10
----------------------------------------------------------------------------
Incl.                                        104    109      5.0  0.66  0.19
----------------------------------------------------------------------------
NAD12-348                                    202    216     14.0  0.61  0.10
----------------------------------------------------------------------------
Incl.                                      212.3  216.0      3.7  1.35  0.16
----------------------------------------------------------------------------
NAD12-349 451015/8883080   93/-63     192     75   82.5      7.5  0.78  0.19
----------------------------------------------------------------------------
Incl.                                         78  81.95     3.95  1.07  0.26
----------------------------------------------------------------------------
NAD12-349                                    129    166     37.0  0.71  0.15
----------------------------------------------------------------------------
Incl.                                        141    149      8.0  1.13  0.30
----------------------------------------------------------------------------
NAD12-349                                    160    166      6.0  1.65  0.25
----------------------------------------------------------------------------

 
The nickel sulphide mineralisation occurs as disseminated and net
textured sulphides within altered ultramafic units. Several stacked
units of nickel mineralisation have been intersected within the
drilling as shown on the cross section in Figure 2 below.  
To view "Figure 2. Generalised cross section along 8883175mN of
Zeppelin, H and Sleeping Giant zones with interpreted geology and
nickel mineralisation" please visit the following link:
http://media3.marketwire.com/docs/Figure2Zeppelin.pdf 
At present the mineralisation is not closed off and the 2013 field
season will focus on extending the strike extents of the mineralised
zones north and south of the drilling completed to date.  
Those mineralised zones intersected, start from approximately 30m
down hole, with several large drill intersections of sulphide
mineralisation up to 60m thick.   
Results from exploration work carried out at the Zeppelin deposit
will be incorporated into an upgraded Mineral Resource estimate for
Ntaka Hill, which the Company expects to complete during the June
quarter 2013. While the Company anticipates that the Zeppelin deposit
may be amenable to open pit mining, completion of an upgraded Mineral
Resource estimate will allow for an assessment of the potential for
open-pit mining.  
NEIL MEADOWS 
Managing Director  
Competent Persons / Qualified Person / NI 43-101 Statement  
Information in this report relating to exploration results is based
on data collected under the supervision of, or compiled by Patricia
Tirschmann, who is a full time employee of IMX. Ms Tirschmann is a
registered member of the Association of Professional Geoscientists of
Ontario and has sufficient relevant experience as a qualified person
as defined by NI 43-101 and a competent person under the Australian
JORC (2004). Ms. Tirschmann consents to the inclusion of the data in
the form and context in which it appears, and approves this
disclosure. 
Quality Control  
The drilling was completed by Capital Drilling (Tanzania) Limited.
Drill core samples (NQ) are cut in half by a diamond saw on site.
Half of the core is retained for reference purposes. Samples are
generally 1.0 metre intervals or less, at the discretion of the site
geologists. Sample preparation is completed at the ALS Chemex
preparation laboratory in Mwanza, Tanzania. Sample pulps are sent by
courier to the ALS Chemex analytical laboratory in Vancouver, Canada.
Blank samples and commercially prepared and certified Ni sulphide
analytical control standards with a range of grades are inserted in
every batch of 20 samples, or a minimum of one per sample batch.
Analyses for Ni, Cu and Co are completed using a peroxide fusion
preparation and ICP-AES finish (Analytical Code ME-ICP81). Analyses
for Pt, Pd, and Au are by fire assay with an ICP-AES finish
(Analytical Code PGM-ICP23). 
About IMX Resources Limited  
IMX is an Australian based mining and base and precious metals
exploration company, listed on the Australian Securities Exchange
('ASX') and Toronto Stock Exchange ('TSX'), with exploration projects
located in Australia, Africa and North America.  
In Africa, IMX owns (100%) and operates the highly prospective
Nachingwea Exploration Project in south-eastern Tanzania, which
includes the potentially world-class Ntaka Hill Nickel Sulphide
Project, located approximately 250km west of the port town of Mtwara.
Nachingwea is highly prospective for nickel and copper sulphide, gold
and graphite mineralisation. The Ntaka Hill Nickel Sulphide Project
is one of the world's best undeveloped nickel sulphide projects and
has the potential to produce a very clean, high-quality, premium
nickel concentrate.  
In Australia, IMX operates and owns 51% of the Cairn Hill Mining
Operation, located 55 kilometres south-east of Coober Pedy in South
Australia, where it produces a premium coarse-grained
magnetite-copper-gold DSO product at a rate of 1.8Mtpa.  
IMX is actively developing the Mt Woods Magnetite Project on the
highly prospective Mt Woods Inlier in South Australia. IMX currently
has a JORC Inferred Resource of 569Mt @ 27% Fe at the Snaefell
Magnetite Deposit and a Global Exploration Target of between
200-380Mt @ 25-35% Fe elsewhere in the project. Studies indicate that
coarse grained concentrates that could be produced at Snaefell have
the potential to produce a direct sinter feed product which has the
potential to attract a significant price premium.  
IMX has a joint venture with OZ Minerals Limited (the Mt Woods
Copper-Gold JV Project) to explore the Mt Woods tenements for copper
and gold. OZ Minerals Limited is spending a minimum of $20 million
for a 51% interest in the non-iron rights, with IMX retaining a 49%
interest in the non-iron ore rights and 100% of the iron rights.  
IMX owns 25.65% of Uranex (ASX:UNX), a uranium exploration company.  
Visit: www.imxresources.com.au 
Forward-looking Statements: This news release includes certain
"forward-looking statements". Forward-looking statements and
forward-looking information are frequently characterised by words
such as "plan," "expect," "project," "intend," "believe,"
"anticipate", "estimate" and other similar words, or statements that
certain events or conditions "may", "will" or "could" occur. All
statements other than statements of historical fact included in this
release are forward-looking statements or constitute forward-looking
information. There can be no assurance that such information of
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
information. Important factors could cause actual results to differ
materially from IMX's expectations.  
These forward-looking statements are based on certain assumptions,
the opinions and estimates of management and qualified persons at the
date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements or information. Such factors include the
inherent risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drilling
results and other geological data, fluctuating metal prices, the
possibility of project cost overruns or unanticipated costs and
expenses, the ability of contracted parties (including laboratories
and drill companies to provide services as contracted); uncertainties
relating to the availability and costs of financing needed in the
future and other factors. Mineral resources that are not Mineral
Reserves do not have demonstrated economic viability. Exploration
Target tonnage quantity and grades estimates are conceptual in nature
only. These figures are not resource estimates as defined by the JORC
(2004) or NI 43-101, as insufficient exploration has been conducted
to define a Mineral Resource and it is uncertain if further
exploration will result in the target being delineated as a Mineral
Resource.  
IMX undertakes no obligation to update forward-looking statements or
information if circumstances should change. The reader is cautioned
not to place undue reliance on forward-looking statements or
information. Readers are also cautioned to review the risk factors
identified by IMX in its regulatory filings made from time to time
with the ASX, TSX and applicable Canadian securities regulators.  
Cautionary Statement: The TSX does not accept responsibility for the
adequacy or accuracy of this release. No stock exchange, securities
commission or other regulatory authority has approved or disapproved
the information contained herein. 
Contacts:
IMX Resources Limited
Neil Meadows
Managing Director
+61 8 9388 7877
nmeadows@imxres.com.au
www.imxresources.com.au 
Professional Public Relations
Tony Dawe
Investor Relations
+61 8 9388 0944
tony.dawe@ppr.com.au
 
 
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