IMX Resources Announces Significant Improvement in Mt Woods Magnetite Metallurgical Performance

IMX Resources Announces Significant Improvement in Mt Woods Magnetite 
Metallurgical Performance 
- Increase in anticipated overall yield from previous test work
programs to approximately 28.5% which includes the ability to
beneficiate mill feed to around 35% iron through dry magnetic
separation on crushed product, delivering a sizeable reduction in
estimated operating costs. 
- High grade, low impurity magnetite concentrate of above 68.5% iron
at relatively coarse grind size of 75 to 80 micron (P80). 
- Alternative coarse direct sinter feed product at 65% iron can still
be produced with the same flow sheet giving the option to maximize
project returns. 
PERTH, AUSTRALIA -- (Marketwire) -- 03/18/13 -- IMX Resources Limited
(TSX:IXR)(TSX:IXR.WT)(ASX:IXR) ('IMX' or the 'Company') is pleased to
announce that it has received results from the recent metallurgical
test work program carried out by Amdel Pty Ltd in Perth. These
results indicate a significant improvement in metallurgical
performance from previous testing. The additional metallurgical
testing was carried out on diamond drill core samples from six
spatially distributed drill holes from the Snaefell resource on the
Mt Woods property in South Australia.  
The drill intersections were selected to reasonably represent the
inferred magnetite resource at Snaefell, currently 569 Mt @ 27.1% Fe
(using 18% Fe cut-off), which has been the subject of previous
metallurgical testing and an internal Concept Study. The previous
metallurgical test work program carried out in 2011 was carried out
on reverse circulation drill chips that introduce a natural bias due
to the drilling technique, which is not present when testing material
from diamond drilling. A brief summary of the test work and detailed
results are attached in Appendix 1. 
Managing Director Neil Meadows commented, "The updated test work
indicates a significant improvement in yield, a key economic driver
for any magnetite project, over the yield used in our Concept Study.
In addition, the ability to have a mill feed averaging 35% iron
following coarse cobbing, delivers a sizeable reduction in
anticipated operating costs. These metallurgical test work results,
together with the proximity to the infrastructure already in use for 
our Cairn Hill operation, support the potential for an economic
development of the project and IMX remains committed to generating
value from the Mt Woods Magnetite Project, for which we are actively
seeking a partner." 
NEIL MEADOWS, Managing Director 
Competent Persons / Qualified Persons 
Information relating to the Inferred Mineral Resource at the Snaefell
Magnetite Deposit is based on data compiled by Mr Peter Hill who is a
Member of the Australian Institute of Geoscientists, and who is a
full-time employee of the Company. Mr Hill has sufficient relevant
experience to qualify as a Competent Person under the 2004 Edition of
the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (the JORC Code) and as a Qualified Person
for the purpose of National Instrument 43-101. Mr Hill approves and
consents to the inclusion of the data in the form and context in
which it appears.  
Information in this announcement that relates to the estimation of
metallurgical performance is based on test work completed by Amdel
Pty Ltd, an independent, professional laboratory. This test work has
been supervised and reviewed by Mr Stewart Watkins (BEng), the
Company's General Manager Projects, who is a Fellow of the
Australasian Institute of Mining and Metallurgy. Mr Watkins has
sufficient experience to qualify as a Competent Person under the 2004
Edition of the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves (the JORC Code) and as a
Qualified Person for the purpose of National Instrument 43-101. Mr
Watkins approves and consents to the inclusion of the data in the
form and context in which it appears. 
About IMX Resources Limited 
IMX is an Australian based mining and base and precious metals
exploration company, listed on the Australian Securities Exchange and
the Toronto Stock Exchange (ASX:IXR)(TSX:IXR)(TSX:IXR.WT), with
exploration projects located in Australia, Africa and North America. 
In Africa, IMX owns and operates the highly prospective Nachingwea
Exploration Project in south-eastern Tanzania, which includes the
potentially word-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 un-developed nickel sulphide projects and has the
potential to produce a very clean, high quality premium nickel
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 which
has the potential to attract a significant price premium. 
IMX has a joint venture with OZ Minerals Limited ('Oz Minerals'), the
Mt Woods Copper-Gold JV Project, to explore the Mt Woods tenements
for copper and gold. OZ Minerals is spending a minimum of $20M for a
51% interest in the non-iron rights, with IMX retaining a 49%
interest in the non-iron rights and 100% of the iron ore rights.  
IMX owns 25.65% of Uranex (ASX:UNX), which is a dedicated uranium
exploration company, which is developing the Mkuju Uranium project in
southern Tanzania.  
FORWARD-LOOKING STATEMENTS: This News Release includes certain
"forward-looking statements". Forward-looking statements and
forward-looking information are frequently characterized 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 contrac
ted 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
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. 
Appendix 1. Summary of test work and results on Snaefell core 
Test work on recent samples of Snaefell core was carried out in two

--  Spatially representative core samples were crushed to minus 5mm and
    processed using dry magnetic separation (see "Coarse Dry LIMS work"
    below) to produce a magnetic product and a non-magnetic reject. 
--  The magnetic products were composited and used in a Davis Tube Test
    program (see "Davis Tube Test Work" below) to evaluate the product
    quality versus grind size achievable from the ore.
Coarse Dry LIMS work
--  Core samples were crushed to below 5mm. 
--  Crushed feed was processed using a dry low intensity magnetic separator
    at a magnetic field strength of 1100 Gauss. 
--  Average mass yield to the magnetic product was 69% (range from 59% to
--  Average Fe grade in magnetic product was 35.0% (compared to 27.3% in the

The results for the samples from six drill holes can be summarised as

                                                               Recovery to  
            Head grade               Magnetic product grade      product    
        ----------------           -----------------------------------------
Drill                      magnetic                                         
hole        Fe Magnetite    product    Fe  SiO2  Al2O3     P    Fe Magnetite
           (%)       (%)        (%)   (%)   (%)    (%)   (%)   (%)       (%)
SFD004    23.4      22.6       59.0  34.6  38.8    6.2  0.11  87.3        96
SFD005    27.3      30.9       80.4  32.7  41.4    5.3  0.16  96.2        99
SFD006    30.6      33.6       81.5  36.1  38.4    4.8  0.18  96.2        99
SFD007    23.5      20.6       64.3  31.0  42.4    6.7  0.15  84.8        95
SFD009    28.1      23.6       64.0  37.7  36.0    4.8  0.16  86.0        97
SFD012    30.6      18.6       65.2  37.6  37.2    4.0  0.17  80.0        96
AVERAGE   27.2      25.0       69.1  34.9  39.0    5.3  0.16  88.4        97

Davis Tube Test Work: Grind size versus product quality 
A composite was prepared from the magnetic product recovered using
the dry magnetic LIMS. Samples were processed to target grind sizes
and then processed using a Davis tube. The magnetic concentrate was
recovered and submitted for assay. The results are summarised below
(sorted by grind size). 

                   Yield to Davis                                           
                    tube product        Davis Tube concentrate grade (%)    
                  Ex LIMS       Ex                                          
Grind size       magnetic  overall                                          
(P80)             product     feed    Fe  SiO2   Al2O3      P   TiO2     LOI
um                      %        %     %     %       %      %      %       %
58                   38.2     26.4  69.4   1.8     0.8  0.007   0.10   -3.02
70                   40.4     27.9  68.8   2.4     0.9  0.009   0.11   -2.83
80                   41.3     28.5  68.5   2.9     1.0  0.014   0.11   -2.78
82                   40.4     27.9  67.8   3.2     1.0  0.014   0.10   -2.75
86                   41.5     28.7  67.6   3.7     1.1  0.016   0.10   -2.68
96                   41.6     28.7  66.2   5.5     1.2  0.024   0.12   -2.67
97                   42.1     29.1  66.5   5.0     1.2  0.023   0.11   -2.64
98                   42.3     29.3  67.3   4.2     1.1  0.021   0.11   -2.72
114                  41.1     28.4  67.3   4.2     1.0  0.015   0.11   -2.75
115                  44.4     30.7  65.1   6.2     1.3  0.028   0.12   -2.53
136                  44.4     30.6  64.9   6.8     1.4  0.032   0.12   -2.57
165                  46.8     32.3  61.7  10.0     1.8  0.045   0.14   -2.25
207                  47.4     32.8  60.5  11.6     2.0  0.050   0.14   -2.18

The data can also be presented as follows: 
To view Figure 1: Product grade versus grind size (P80), please visit
the following link:  
To view Figure 2: Total yield (ex overall feed) vs grind size (P80),
please visit the following link:  
In summary: 

--  Davis Tube tests were conducted at grind size ranging between 58um and
    207 um. 
--  Overall mass yield to product (including dry magnetic separation) ranged
    from 26% to 33%. 
--  Assays on product grade indicated that product grade decreased from
    69.4% at a P80 of 58um to 60.5% at a P80 of 207 um. 

ABN 67 009 129 560 
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. 
IMX Resources Limited
Neil Meadows
Managing Director
+61 8 9388 7877 
Professional Public Relations
Tony Dawe
Investor Relations
+61 8 9388 0944
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