SYS-CON MEDIA Authors: Peter Silva, Kevin Jackson, Jessica Qiu, Dana Gardner, Dan Stolts

News Feed Item

IMX Resources Reports Up to 2.71 g/t Au at HOG Prospect

WEST PERTH, AUSTRALIA -- (Marketwire) -- 11/15/12 --

Highlights


--  HOG sulphide horizon tested by RC drilling over 350m of its known 1050m
    strike extent 
--  Highly anomalous geochemistry intersected in five drill holes including:
    --  19m at 0.86% Zn and 0.15 g/t Au from 49m (including 1.26% Zn and
        0.09 g/t Au over 8m) 
    --  5m at 0.45% Zn and 0.43 g/t Au (including 0.94% Zn and 0.88 g/t Au
        over 1m) 
    --  2m of 1.16% Zn, 0.58% Cu and 0.10 g/t Au 
    --  14m at 0.43% Zn and 0.39g/t Au from 25m (including 1m of 0.54% Zn
        and 2.71 g/t Au) 
--  Eight additional grab samples of gossanous rock with 0.31 to 2.29 g/t Au

IMX Resources Limited (TSX:IXR)(TSX:IXR.WT)(ASX:IXR) ('IMX' or 'the Company') reports that reverse circulation (RC) drilling has intersected up to 2.71 g/t Au and multiple intersections of anomalous base metals from the HOG prospect, located 21km northeast of the Ntaka Hill Nickel Sulphide Project. The prospect is located 250km west of the port town of Mtwara, and is part of the 100% owned Nachingwea property in south eastern Tanzania.

Five RC drill holes totalling 424m were drilled to test an EM anomaly and associated gold-bearing gossanous(1) outcrops at the HOG prospect during September (Figure 1). All holes intersected one or more pyritic sulphide zones over a 350m strike length. The drilling confirmed the presence of pyritic sulphide zones containing elevated base and precious metal geochemistry (Zn, Cu, Au and Ag) over sample intervals of up to 19m (Table 1). The gossanous horizon, presumably after base metal sulphides, remains open in all directions.

MD Neil Meadows commented "This is an encouraging first result. The HOG zinc-gold prospect is a significant discovery and demonstrates the potential for additional styles of mineralisation to be present on our Nachingwea property. Our next priorities are to confirm the presence of economic base metal sulphide and gold mineralisation, and secondly, to determine the dimensions of that mineralisation. The IMX board is keen to see this work progress rapidly."

The HOG prospect gossan was discovered in late 2011 during a regional soil sampling program where grab samples assayed up to 4.96 g/t Au(2). The gossanous outcrops extend for 800 metres across a zone 25-180 metres wide along a low lying ridge. The prospect consists of abundant sub-outcropping and loose gossanous boulders. Subsequent soil and grab sampling of the gossanous rock have outlined elevated gold values over a strike length of 1050m with new samples assaying up to 2.29 g/t Au.

The extensive pyrite rich zones highlight the presence of extensive elevated base metal and gold geochemistry and the Company plans to carry out additional mapping over the HOG prospect to more fully define its extents and understand the geological setting and significance of the anomalous zinc and gold values.

An airborne VTEM survey was completed over the HOG prospect in early August 2012 from which a 600m long conductive zone was delineated flanking the west side of the HOG discovery gossan. In late October, a 9.5 line km of surface EM survey was completed to better define the electromagnetic conductor and aid in future drill hole targeting.

The identification of gold and base metal mineralisation in the property licences further enhances the regional prospectivity of the evolving new mineral province at Nachingwea, which now includes nickel, copper, gold, silver, zinc and graphite.

NEIL MEADOWS, Managing Director

(1) A 'gossan' is a surface feature, usually iron-rich, derived from the weathering of sulphide minerals-possibly a zone of massive sulphides. NB: not all iron-rich surface features are after iron sulphides

(2) ASX: 28 May 2012

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/IMX1114.pdf


Table 1: Summary of Assay Results                                          
                                                                           
HOG Prospect, Nachingwea Project, Tanzania                                 
                                                                           
---------------------------------------------------------------------------
         Location
Drill    East/                                Inter-                       
hole     North            Length  From     To   val    Zn    Cu    Au    Ag
(NRC12-) UTM:WGS84 Az/Dip     (m)   (m)    (m)   (m)    %     %   g/t   g/t
---------------------------------------------------------------------------
065      457525mE  90/-80   84.0 49.00  68.00 19.00  0.86  0.09  0.15  1.87
         8905100mN        Incl.  50.00  58.00  8.00  1.26  0.13  0.09  2.24
---------------------------------------------------------------------------
066      457625mE  90/-80   70.0 18.00  23.00  5.00  0.45  0.14  0.43  2.94
         8905100mN        Incl.  19.00  20.00  1.00  0.94  0.44  0.88  6.90
                                                                           
                                 41.00  43.00  2.00  0.27  0.07  0.12  1.90
---------------------------------------------------------------------------
067      457725mE  90/-65  120.0 16.00  18.00  2.00  0.46  0.24  0.19  3.75
         8904900mN                                                         
                                 28.00  30.00  2.00  1.16  0.58  0.10  9.25

                                100.00 105.00  5.00  0.46  0.05  0.07  0.98
                          Incl. 100.00 102.00  2.00  0.92  0.06  0.08  0.95
                                                                           
                                110.00 119.00  9.00  0.60  0.06  0.08  1.22
                          Incl. 111.00 112.00  1.00  1.67  0.08  0.04  1.70
                                115.00 116.00  1.00  1.37  0.08  0.21  2.50
---------------------------------------------------------------------------
068      457750mE  90/-80   75.0 32.00  35.00  3.00  0.28  0.09  0.27  2.77
         8904750mN                                                         
---------------------------------------------------------------------------
069      457525mE  90/-80   75.0 25.00  39.00 14.00  0.43  0.13  0.39  2.63
         8905000mN        Incl.  25.00  32.00  7.00  0.73  0.12  0.36  3.31
                                 34.00  35.00  1.00  0.54  0.08  2.71  5.60
---------------------------------------------------------------------------
Note: Intervals represent down hole lengths, not necessarily true widths. 

Competent Persons / Qualified Person / NI 43-101 Statement

Information in this report relating to exploration results is based on data collected under the supervision of, or compiled by Patricia Tirschmann, P. Geo., who holds the position of Vice President, Exploration and is a full time employee of IMX Resources. Ms. Tirschmann is a registered member of the Association of Professional Geoscientists of Ontario and has sufficient relevant experience as a qualified person as defined by NI 43-101 and a competent person under the Australian JORC (2004). Ms. Tirschmann consents to the inclusion of the data in the form and context in which it appears, and approves this disclosure.

Quality Control

The RC drilling program was carried out by Capital Drilling (Tanzania) Limited. RC cuttings for laboratory analysis were collected from a port off of a splitter mounted at the bottom of the cyclone in calico bags at successive 1 metre samples intervals over the entire length of the hole. Each sample represented approximately 2kg of RC cuttings. The bagged samples were assigned a unique sample number, labelled and transported to camp by company personnel where preliminary analytical measurements were carried out on each sample using a portable NITON XRF analyzer. Samples were selected for laboratory analysis based on the NITON analyses and visual drill logs. Commercially prepared and certified analytical control standards were inserted every 20 samples. In addition, alternating blank and duplicate samples were also inserted every 20 samples. Samples batches were sent to the ALS Chemex preparation lab in Mwanza, Tanzania for final sample preparation and sample analytical pulps were sent by courier to ALS Chemex analytical laboratory in Vancouver, Canada. Multi-element analyses including Cu, Zn, Pb and Ag were completed using a HNO3-HClO4-HF-HCl digestion, HCl leach and ICP-AES finish (Analytical Code ME-ICP61). Analyses for Au were by fire assay with an AAS finish (Analytical Code AU-AA23). Sample containing greater than 1% zinc were re-analysed using a four acid digestion with an ICP-AES finish (Analytical Code Zn-OG62).

About IMX Resources Limited

IMX Resources Limited is an Australian based mining and base & precious metal exploration company dual-listed on the Australian and Toronto stock exchanges (ASX/ TSX Code: 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 southeast Tanzania, which includes the potentially world-class Ntaka Hill Nickel Sulphide project. 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 concentrate.

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 have the potential to produce a direct sinter feed product which has the potential to attract a significant price premium.

IMX has also entered into a joint venture with 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.

Visit: www.imxresources.com.au

FORWARD-LOOKING STATEMENTS: This News Release includes certain "forward-looking statements". Forward-looking statements and forward-looking information are frequently characterised 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. These 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 contracted 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 resource.

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.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArcho...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize supplier management. Learn about enterprise architecture strategies for designing connected systems tha...
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.
Whether you're a startup or a 100 year old enterprise, the Internet of Things offers a variety of new capabilities for your business. IoT style solutions can help you get closer your customers, launch new product lines and take over an industry. Some companies are dipping their toes in, but many have already taken the plunge, all while dramatic new capabilities continue to emerge. In his session at Internet of @ThingsExpo, Reid Carlberg, Senior Director, Developer Evangelism at salesforce.com, to discuss real-world use cases, patterns and opportunities you can harness today.
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how thes...
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) ir...
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn rea...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder ...
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other mach...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice s...
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehe...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example...