Resource Mining Corporation (ASX:RMI) is planning to conduct reviews to determine the next exploration programs to be undertaken with the Liparamba and Mbinga Nickel projects in Tanzania.
The $15.74 million market capitalisation company received assay results from the diamond drilling program completed in September 2023, as well as soil survey completed in October 2023, which has uncovered nickel-copper (Ni-Cu) sulphide mineralisation anomalies.
Resource Mining says the latest discovery announced yesterday (17 January 2024) confirms the region’s ‘high potential’ and prospectivity.
At Liparamba, 9 diamond drillholes were drilled to test the project area for potential mineralisation and provide the company a platform for further exploration work.
The company reports anomalous Ni-Cu values were detached with several drillholes, with Ni-Cu sulphide mineralisation occurring at 133 to 135m within hole LPDD009.
According to Resource Mining, this program is the first to confirm Ni-Cu mineralisation within the ‘large’ under-explored region, with defined targets at depth still to be tested from a recently completed audio-frequency magnetotellurics (AMT) survey.
Executive Chairman Asimwe Kabunga says the discovery from the drill program at Liparamba is a ‘positive’ outcome and provides a very ‘exciting’ opportunity for the company.
Meanwhile at the Mbinga project, a series of soil surveys were completed over 3 regions. Results were compiled and indicate a ‘large’ geochemical anomaly extends the coincidental geophysical and geochemical anomaly previously defined by BHP (ASX:BHP) / Albidon.
Kabunga says: “With these results we are able to apply the knowledge to extend the exploration works at Liparamba, in addition it has also meant the Mbinga Nickel Project, part of the regional exploration area, has located an exciting target zone in what is now known to be a series of mafics that may contain significant economic mineralisation.”
Resource Mining is a battery minerals-focused explorer with assets in Tanzania and Finland.
As of 30 September 2023, the company had $1.345 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Resource Mining Corporation
