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imx resources ltd (IXR) Snapshot

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01/29/14 - A$0.05
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Market Cap
6.7M
Average Volume 10 Days
907.8K
EPS TTM
A$-0.03
Shares Outstanding
670.6M
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imx resources ltd (IXR) Details

IMX Resources Limited engages in prospecting, exploring, extracting, and producing minerals principally in Australia, Tanzania, and Canada. The company primarily explores for graphite, nickel, gold, and copper deposits. Its principal property includes the Nachingwea Property comprising a land package of 6.800 square kilometers located in south-eastern Tanzania. The company is based in West Perth, Australia.

imx resources ltd (IXR) Top Compensated Officers

Acting Chief Executive Officer and Chief Fina...
Total Annual Compensation: A$296.2K
General Manager of Commercial and Company Sec...
Total Annual Compensation: A$225.4K
General Manager of Exploration
Total Annual Compensation: A$366.2K
Executive Director of Exploration and Executi...
Total Annual Compensation: A$49.0K
Compensation as of Fiscal Year 2014.

imx resources ltd (IXR) Key Developments

IMX Resources Limited Announces Further High-Grade Intersections at its Chilalo Graphite Project in Tanzania

IMX Resources advised that it has received further assays from its Reverse Circulation (RC) drilling program at the Chilalo Graphite Project, located on its Nachingwea Property in Tanzania. The assays are from four holes at Chilalo, where drilling returned a number of near-surface, high-grade intersections including: Hole NRC14-154: 16m at 11.7% TGC from 18m, including 6m at 13.5% TGC; Hole NRC14-155: 18m at 11.8% TGC from 56m, including 8m at 14.3% TGC; Hole NRC14-156: 14m at 13.0% TGC from 0m; and Hole NRC14-157: 32m at 11.4% TGC from 18m, including 14m at 14.3% TGC. These results extend the high-grade mineralisation further along strike to the north-east and south-west from the assayed holes announced to date. The mineralisation remains open both along strike and down dip. The 2014 Chilalo RC drilling program comprised 33 drill holes for 2,558m, drilled into several VTEM (Versatile Time Domain Electromagnetic) geophysical targets. All drill holes have intersected graphite and one target stands out with significant high-grade mineralisation. In addition to the RC drilling, the Company has recently completed a program of diamond drilling at Chilalo. This will assist in the definition of a JORC Mineral Resource, which the Company expects to complete in early 2015, as well as providing core for metallurgical testwork to determine the flake size distribution of the deposit, flotation recoveries and concentrate grades. The core will also allow for marketing samples to be prepared as the Company seeks to engage with end users.

IMX Resources Limited Announces First Diamond Hole Intersects High-Grade Graphite at Company's Chilalo Project

IMX Resources Ltd. advised that the first diamond drillhole at its Chilalo high-grade flake graphite discovery in Tanzania has intersected 25.7m of high-grade graphite (visual estimate) from just 66.3m below the surface. This new intersection, NRC14-141D, is 50m south of Reverse Circulation drillhole NRC14-140, which intersected 24m at 11.7pc TGC from 28m, including 14m at 14.9% TGC, extending the mineralisation down-dip. Diamond drilling is continuing as part of IMX's strategy to define a Mineral Resource by early 2015 and provide core samples for metallurgical testwork to determine the flake size distribution of the deposit, flotation recoveries and concentrate grades. The intersection in diamond drill hole NRC14-141D extends the known high-grade graphite mineralisation down dip as shown in the cross section confirming the continuity of the deposit at depth. The discovery at Chilalo extends for more than 1km and remains open along strike to the north-east and at depth.

IMX Resources Limited Commences Drilling Program at its Nachingwea Property in Tanzania

IMX Resources Limited reported that it has made a strong start to the recently commenced drilling program at its Nachingwea Property in Tanzania, with drilling at the key Chilalo Prospect confirming significant widths of near-surface graphite mineralisation. Assay results from the drilling at Chilalo are expected during December 2014. A total of 18 holes for 1,360 metres of Reverse Circulation (RC) drilling has been completed to date at the Chilalo Prospect since drilling commenced on 1 October. The majority of holes have intersected graphite mineralisation including some zones which, based on visual inspection, appear to be higher grade mineralisation. A further 34 holes for an estimated 3,331 metres are planned for the 2014 Chilalo RC drilling program. The location of the holes completed to date, as well as the remaining holes proposed. These metres are likely to be reduced as better targets are identified and infilled to define geological continuity. Further RC drilling for graphite is planned to be carried out at the Chilalo North target, where previous assays from rock chips returned 17.5%, 17.6% and 19.5% carbon. A drill hole plan is currently being prepared. IMX confirms that since announcing these exploration results on 18 August 2014, it is not aware of any new information or data that materially affects the information included in that announcement. The mineralisation intersected to date occurs at, or near surface and extends over substantial widths, confirming that the VTEM survey data being used to generate exploration targets at Chilalo is effective. In addition, drilling has been completed across the large VTEM anomaly, to assist with understanding the geology of the prospect. The drilling program will now focus on completing single drill holes into individual targets, with the aim of identifying high-grade graphite mineralisation for in-fill drilling. Approximately 1,000 metres of diamond drilling is also planned and is expected to commence on completion of the RC drilling. This will assist in the definition of a Mineral Resource as well as providing core for metallurgical test work to determine the flake size distribution of Chilalo graphite as well as metallurgical recoveries and concentrate grades.

 

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