PERTH, AUSTRALIA -- (Marketwire) -- 02/03/13 -- IMX Resources Limited (TSX: IXR)(TSX: IXR.WT)(ASX: IXR) ('IMX' or the 'Company') is pleased to report that results from a recently completed gravity survey campaign in the Ntaka Hill-Lionja trend, within its Nachingwea land package, have indicated the presence of a significantly larger area of ultramafic rocks associated with the Ntaka Hill Nickel Sulphide Project ('Ntaka Hill') that have the potential to be mineralised.
The gravity survey highlighted the extent of ultramafic rocks, which host the nickel mineralisation at Ntaka Hill, within the dense ultramafic rocks surrounded by less dense altered sedimentary rocks or para-gneisses. The image of the gravity survey clearly outlines the more dense rocks surrounded by less dense 'country' rock (see Figure 1).
The large extent of the newly interpreted ultramafic rocks away from the existing areas of known mineralisation at Ntaka Hill provides a significantly larger area for the Company to target its exploration aimed at extending the known Nickel Sulphide Resource.
These findings have the potential to impact on the development options for Ntaka Hill.
Managing Director Neil Meadows commented: "We are very encouraged by the results of the gravity survey, highlighting the potential increase in the extent of ultramafic rocks and mineralisation at Ntaka Hill and remain confident that there are further zones of mineralisation to be discovered. Enhancing our understanding of the area of mineralisation and therefore the potential size of the resource is a priority for the 2013 drilling program, the results of which will be central to the Company's decisions on development of the project."
Preparations for the 2013 drilling program are well advanced and on track for commencement subsequent to the Tanzanian wet season.
NEIL MEADOWS, Managing Director
To view "Figure 1. Ntaka Hill Gravity Image," please visit the following link: http://media3.marketwire.com/docs/IXR0301_Figure1.pdf.
About IMX Resources Limited
IMX Resources Limited is an Australian based mining and base and precious metal exploration company listed on the Australian Securities Exchange ('ASX') and Toronto Stock Exchange ('TSX'), 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.
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