ASX-listed nickel (Ni) exploration company Nimy Resources (ASX:NIM) reports it has started rare earth element (REE) exploration over a previously identified carbonatite at its Mons Nickel Project in Western Australia’s (WA’s) Yilgarn Craton region.
Exploration activities began with an initial soil sampling program, which resulted in 21 samples being taken on a west to east bearing across the centre of the carbonatite prospect and being submitted for assay analysis.
Completion of this initial soil sampling program warranted the commencement of a more comprehensive soil sampling program, which is still currently ongoing.
The carbonatite prospect was identified by independent, global gold mining company AngloGold Ashanti Australia (ASX:AGG) and was noted as a potential carbonatite intrusion with REE or other economic minerals, however no REE tests were conducted.
It is also reported that this potential REE carbonatite shares geophysical similarities to other known carbonatites, including the Mt Weld carbonatite, which represents a world class producer of REE mineralisation.
Speaking on the commencement of REE exploration, Nimy Resources Chairman, Simon Lill said: “Company geologist Fergus Jockel and myself worked together on the Mt Weld Project in 1999 including two drill programs. I was initially attracted to the feature to the west of Nimy’s tenure due to its geophysical similarities to Mt Weld.
“To find that the ground was available and underexplored demanded that Nimy take the opportunity to pick it up”
To find that the ground was available and underexplored demanded that Nimy take the opportunity to pick it up. We look forward to finding out what other similarities to Mt Weld that it may contain.”
The company also notes that geophysics indicate a magnetic low presenting as a core within a circular magnetic high could be present within the exploration area, however no other interpreted magnetic anomalies, high or low, have been located within the vicinity.
In addition, due to the increased demand for REE’s, specifically around their part played in achieving net zero carbon emissions through clean energy technologies, it is reported that the exploration of the carbonatite prospect will be accelerated.
The immediate work plan includes further soil sampling, as well as a reverse circulation (RC) test drill hole to a depth of 300m.
Nimy Resources is an ASX-listed exploration company with a vision to responsibly discover and develop an economic nickel-sulphide project in a tier 1 jurisdiction. The company’s Mons project is located within WA’s Yilgarn Craton, about 140kms north-northwest of the mining centre of Southern Cross. The project covers a total land area of 2,564km-square across 15 approved tenements, with Nimby Resources currently owning 100% interest in all associated tenements.
With the more comprehensive soil sampling campaign still ongoing, Nimy Resources announces it will move forward in seeking approvals for a program of works (POW) and native titles while it continues to process soil sampling assays.
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