Nimy Resources has identified a third major gold-in-soil anomaly along its 16km Corporate James Trend, while maiden drilling and ground EM surveys move ahead at the Mons Project. Early Block 3 testwork also returned 84% gallium and up to 95% rare earth extraction, although the work remains at an early technical stage.
- Corporate James East anomaly extends across 950 metres, with all 20 northern-line samples anomalous
- Maiden drilling at Corporate James began in mid-October
- Ground EM surveys are targeting copper, nickel, PGE and VHMS systems across four prospects
- Block 3 testwork achieved 84% gallium and 80-95% rare earth extraction
- $2.26 million cash balance at 30 September after $1.011 million quarterly exploration spend
Corporate James East adds a third gold anomaly
Nimy Resources Limited (ASX:NIM) has added a third major gold-in-soil anomaly to the Corporate James Trend, with the strongest results at Corporate James East extending across the full 950-metre sampled length of its northern line. Every one of the 20 samples returned at least 9.6 parts per billion gold, averaging 14.0ppb and reaching 21.3ppb.
The anomaly remains open to the east: the easternmost sample returned 10.9ppb, with the adjacent sample at 13.8ppb. Across all 59 samples, gold ranged from 1.3ppb to 21.3ppb, with 41 samples, or 69%, returning at least 5ppb. The results are soil geochemistry rather than drilling intersections, so they define a target rather than establish a mineral resource. Follow-up sampling is planned to test the anomaly’s eastern, northern and southern continuity.
Corporate James East sits on the same granite-greenstone contact as Corporate James and Corporate James South, which Nimy has been building into a priority gold corridor. The company’s earlier Corporate James target had already defined a priority gold zone along the broader trend. Maiden drilling at Corporate James began in mid-October, creating the next test of whether the surface anomalies translate into bedrock mineralisation.
Ground EM targets four Mons prospects
Nimy is also running ground electromagnetic surveys across Masson, Masson NE, Sneaky Squirrel and Block 3. The Newexco-designed work is intended to identify discrete conductors associated with sulphide systems, following targets generated by airborne EM, drilling and soil sampling. The survey covers distinct exploration concepts, including magmatic copper-nickel-PGE mineralisation at Masson and Masson NE, VHMS copper-zinc-gold mineralisation at Sneaky Squirrel, and a copper-zinc feeder system at Block 3.
That program builds on the company’s Mons EM target program, which previously outlined parallel gold trends and a large potential copper-zinc-silver VHMS anomaly at Masson NE. Results from the current surveys will be modelled with Newexco before drill targets are prioritised, meaning the immediate value lies in target generation rather than confirmed economic mineralisation.
Block 3 testwork advances gallium flowsheet
At Block 3, early sighter tests delivered 84% gallium extraction and 80% to 95% extraction for rare earth elements from oxide and transition material. Acid bake produced the highest extraction for the elements tested in both ore types, and the results are now feeding beneficiation, reagent and process optimisation work with Strategic Metallurgy and Curtin University.
The company’s earlier gallium testwork is also supporting a Block 3 Scoping Study and a three-stage MRIWA, Nimy, Curtin and Trailblazer research program. Those figures are encouraging process results, but they do not yet establish commercial recoveries, costs or project economics. The Block 3 Inferred Resource is reported at 7.23 million tonnes grading 102 grams per tonne Ga₂O₃ at a 70g/t cut-off, or 64.3 million tonnes grading 42g/t at a 20g/t cut-off.
Cash supports the next work program, with funding still material
Nimy held $2.26 million at 30 September and spent $1.011 million on exploration and evaluation during the quarter. Sample testing and analysis accounted for $256,000, geophysical work for $165,000, contract labour for $209,000, and rent and rates for $235,000. The filing also records $128,000 in director fees paid to related entities and $63,000 in monthly rental charges to a related entity.
The December quarter is set to combine Corporate James drilling, further soil sampling, completion of the four-area EM program, geological modelling and continued gallium flowsheet work. The key question is whether the exploration scale now visible across Mons can produce sufficiently robust drilling results and process economics before the company’s cash position becomes a larger constraint.
Bottom Line?
The next meaningful evidence will come from Corporate James drilling and EM conductor modelling, while Block 3 must turn strong early extraction results into credible flowsheet and scoping-study economics.
Questions in the middle?
- Will drilling confirm bedrock mineralisation beneath the Corporate James gold-in-soil anomalies?
- Which conductors emerge as the highest-priority copper, nickel, PGE or VHMS drill targets?
- Can Block 3 maintain high gallium and rare earth recoveries through optimisation while controlling future funding needs?