Australian-based exploration company IMX Resources Limited has received strong interest in the Nickel project it has opened in Tanzania. The interest from undisclosed international parties is a direct result of the appreciation in the nickel metal price. This has prompted IMX to create a data room for prospective investors to examine early results of measured and indicated resource findings.
In Tanzania, IMX controls the Nachingwea property in southeastern Tanzania. The area lies in the world class Mozambique belt that is prospective for graphite, gold, copper and nickel mineralisation.
Metallurgy at Ntaka Hill
The metallurgy of the mineralisation at Ntaka Hill is excellent. Based on metallurgical test work completed to date, Ntaka Hill mineralisation is expected to produce a high grade nickel plus copper bulk concentrate with very low levels of MgO and clean of other contaminants using conventional flotation. Metal recoveries are expected to exceed 80% over the life of the project.
Measured and indicated resource:
- 58 % nickel
- 13 % copper
- 117,880 tonnes of contained nickel.
The inferred resource:
- 66 % nickel
- 14 % copper
- 238,500 tonnes of contained nickel.
Phil Hoskins the Acting CEO stated:
“We are very pleased with the strong interest we have received in progressing Ntaka Hill to the next stage. The exploration that has been conducted to date indicates there is potential to establish a nickel project at Ntaka Hill, and there are numerous untested targets which suggest the Project has significant exploration upside.”
Infrastructure at Ntaka Hill
The Ntaka Hill project is accessed via a 250 km road west from the port city of Mtwara in SE Tanzania. This comprises a sealed highway from Mtwara to Naganga followed by an unsealed road to Mnero village. Finally there is a 20km poorly maintained track to Ntaka Hill.
General Electric Company and Symbion Power are developing a 400mw gas fired powered plant to be built in the Mtwara region. This capacity will be able to provide for both local and mining needs.
Should a mine concentrator facility be developed in Ntaka Hill, mineral concentrate could be shipped from the deep-water port at Mtwara, which has a current export capacity of 4000 tonnes per annum and is operating at less than half its capacity.
IMX able to move onto new projects
The company, listed on the Australian Securities Exchange and the Toronto Stock Exchange, is also exploring the Chilalo graphite project and the Kishugu gold project.
IMX’s Acting CEO, Phil Hoskins, said the Company’s aim was to secure a transaction for Ntaka Hill to enable shareholders to benefit from the value of the asset, while enabling IMX to focus on the rapid assessment of the emerging Chilalo Graphite Project and drill testing the Kishugu gold target.