|By Marketwired .||
|January 15, 2014 06:00 PM EST||
PERTH, AUSTRALIA -- (Marketwired) -- 01/15/14 -- Key Points
-- Field activities resume for 2014 with re-opening of Ntaka Hill exploration camp. -- Exploration underpinned by MMG's geological model targeting southerly- plunging sills and chonoliths. -- Scope of search extended across broader approx. 3km by approx. 12km Ntaka-Lionja trend, with recently completed mapping of the Ntaka Hill- Lionja intrusion revealing a potentially world-class intrusive complex.
IMX Resources (ASX: IXR)(TSX: IXR)(TSX: IXR.WT) is pleased to advise that a multi-pronged exploration program has commenced at its Ntaka Hill Nickel Sulphide Project in south-eastern Tanzania, East Africa (Figure 1) as part of an aggressive campaign to "crack the code" of this potentially outstanding project.
The work will see joint venture partner MMG Exploration Holdings ("MMG") conduct a comprehensive analysis of the extensive geophysical data acquired and the drilling completed late last year at Ntaka Hill, together with extensive historical drilling, in order to identify targets characteristic of the high-grade nickel sulphide intersections recorded in previous drilling programs.
This work is expected to pave the way for the next key phase of drilling which is targeted to commence next quarter following the East African wet season.
By marrying the new geophysical data base with the existing high-grade drilling results, the ability to increase understanding of the geology and mineralization at Ntaka Hill and replicate the existing high-grade results on a widespread basis will be greatly enhanced. The Ntaka Hill exploration program, which is being operated and funded by MMG under the terms of its US$60 million farm-in, is aimed at identifying the tube-like structures or "chonoliths" which are believed to host the high-grade nickel sulphides at Ntaka Hill and the surrounding Nachingwea Project.
These structures are believed to host the high-grade intersections, including 13.65m at 3.46 per cent nickel and 0.62 per cent copper (NAD13-372)(1) reported in recent drilling, and previous intersections drilled by IMX such as 17.25m at 2.28 per cent nickel and 0.57 per cent copper (NAD10-226)(2) and 15.95m at 3.51 per cent nickel and 0.55% copper (NAD10-220)(3).
Since announcing these exploration results on 1 November 2013, 25 January 2011 and 14 December 2010, IMX is not aware of any new information or data that materially affects the information included in those announcements.
Surface mapping and systematic soil sampling over the Ntaka Hill and Lionja intrusions were completed in 2013. This outlined previously unidentified surface gossans over Lionja and extended the known coverage of the intrusion in this area to the east and south-east (Figure 2).
In addition, MMG applied state-of-the-art geophysics, including "deep-looking" NSAMT (natural source audio magnetotellurics) surveys, MLEM (moving loop EM) surveys and infill ground gravity surveys across the Ntaka Hill and Lionja intrusions to assess the potential for nickel mineralisation.
The assessment of the 2013 drilling, mapping and geophysical data will take place throughout the March Quarter of 2014 in preparation for the scheduled start of drilling in May 2014.
MMG is targeting a resource in the order of 27 million tonnes grading at or above 1.5 per cent nickel for Ntaka Hill and Lionja based on a geological model of chonolith-hosted high grade nickel sulphides within the large nickel rich magmatic Ntaka Hill-Lionja intrusion.
The current Measured and Indicated Resource for Ntaka Hill stands at 20.3Mt at 0.58 per cent nickel and 0.13 per cent copper for 117,880 tonnes of contained nickel. The Inferred Resource is 35.9Mt at 0.66 per cent nickel and 0.14 per cent copper for 238,500 tonnes of contained nickel.(4)
Since announcing this mineral resource estimate on 19 August 2013, IMX is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.
IMX Acting Managing Director John Nitschke said the results generated to date at Ntaka Hill supported the Company's strong belief in the potential of the project.
"There is clearly significant nickel mineralisation already at Ntaka Hill and this work has confirmed the potential of the entire Ntaka Hill-Lionja intrusive. The next phase of exploration is aimed at unlocking the code which controls that mineralisation so that we can identify the high-grade structures that will transform it into a world-class project."
JOHN NITSCHKE, Acting Managing Director
To view Figure 1 - map showing Ntaka Hill Project location, please visit the following link: http://media3.marketwire.com/docs/IMX-Figure1.pdf.
To view Figure 2 - Gravity image showing the broader Ntaka Hill-Lionja intrusion, please visit the following link: http://media3.marketwire.com/docs/IMX-Figure2.pdf.
About IMX Resources Limited
IMX Resources Limited is an Australian-based mining and exploration company, listed on the Australian Securities Exchange ('ASX') and Toronto Stock Exchange, with projects located in Australia and East Africa.
In Australia, IMX operates and owns 51% of the Cairn Hill Mining Operation, located 55km 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. This operation generates cash flow which underpins the IMX investment proposition.
IMX is also actively exploring for direct shipping hematite at its Mt Woods tenements, located near the Cairn Hill Mining Operation, and progressing development options for its Mt Woods Magnetite Project. Studies indicate that a smaller scale, lower cost project may be developed utilising existing infrastructure already in use at the Cairn Hill Mining Operation. Efforts to secure a partner to support development of the Mt Woods Magnetite Project are continuing.
In Africa, IMX owns the highly prospective Ntaka Hill Nickel Sulphide Project, located within the broader 7,000km2 Nachingwea Exploration Project in south-eastern Tanzania which is prospective for nickel and copper sulphide, gold and graphite mineralization. Ntaka Hill is a potentially world-class nickel sulphide project which is being explored under a US$60 million exploration joint venture with MMG Exploration Holdings Limited.
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.
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.
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.
(1) ASX Announcement 1 November 2013
(2) ASX Announcement 25 January 2011
(3) ASX Announcement 14 December 2010
(4) ASX Announcement 19 August 2013
IMX Resources Limited
Acting Managing Director
+61 8 9388 7877
IMX Resources Limited
Chief Financial Officer
+61 8 9388 7877
Paul Armstrong/Nicholas Read
+61 8 9388 1474
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 06:00 PM EST Reads: 1,123
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 06:00 PM EST Reads: 1,148
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Dec. 19, 2014 06:00 PM EST Reads: 591
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
Dec. 19, 2014 05:00 PM EST Reads: 1,147
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Dec. 19, 2014 04:45 PM EST Reads: 737
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
Dec. 19, 2014 02:00 PM EST Reads: 666
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Dec. 19, 2014 11:30 AM EST Reads: 2,282
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 11:00 AM EST Reads: 1,839
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Dec. 19, 2014 10:00 AM EST Reads: 1,945
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Dec. 19, 2014 10:00 AM EST Reads: 1,682
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 09:00 AM EST Reads: 1,878
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Dec. 19, 2014 08:00 AM EST Reads: 1,860
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
Dec. 19, 2014 07:00 AM EST Reads: 2,153
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Dec. 19, 2014 06:30 AM EST Reads: 2,144
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's