Ntaka Hill - Lionja exploration program
The exploration camp located at Ntaka Hill was this year re-opened three months earlier than has previously been the case to allow for exploration activities to commence early in the season. Work concentrated on the reviews and soil geochemistry aspects detailed above as well as camp improvements particularly from a safe work perspective. The drilling program for 2013 will commence in early May as planned with the mobilisation reverse circulation and diamond drilling rigs (one of each).
IMX has also committed to the purchase of ground and down-hole geophysical equipment to enable continuous work in the region to be carried out during future field seasons. The depth potential for mineralisation at Ntaka Hill remains relatively unknown due to down-hole techniques only being applied over relatively short periods at the end of previous drilling campaigns. The application of modern down-hole electromagnetic survey techniques is intended to assist IMX in understanding the depth potential for massive sulphides at Ntaka Hill.
Ground based surveys utilising induced polarisation techniques for which the purchased equipment will also be capable, have been recommended as the optimum technique to apply to the exploration for elevated grade disseminated mineralisation, such as has been discovered to date at Ntaka Hill.
IMX has also committed to the purchase of a semi-mobile sample preparation laboratory for installation at Ntaka Hill as a first step in reducing the turnaround time for sample analyses to less than one month. This will enable IMX to adjust its drilling campaign based on relatively fast turnaround times for samples generated during a field season rather than previous practice of setting out at the commencement of a drilling season with a fixed scope for drilling. This added flexibility is intended to enhance exploration outcomes during future drilling seasons.
Ntaka Hill Prospecting Licence
Subsequent to the end of the quarter, the Prospecting Licence PL 4422/2007 covering the Ntaka Hill project area was renewed effective 7 April 2013. This renewal provides for the licence to be valid for IMX to continue its exploration and project development work for a further two years.
2. Nachingwea Property, Regional Targets (IMX 100%)
During the quarter, IMX employed a senior geologist who will focus solely on following up regional targets, which during the 2013 field season will involve:
-- Analysis of satellite imagery to identify outcrop;-- Analysis of existing VTEM anomalies;-- Extensive regional soil sampling over targets; and-- Potentially follow up on the most prospective targets with reverse circulation drilling.
3. Mt Woods Magnetite Project-Regional Targets (IMX 100%)
Twenty-five reverse circulation holes for 3,486m drilled during late 2012 all returned significant magnetite iron intersections from five prospects near the Tomahawk prospect and Fitzgerald Dam. Results include 114m @ 32.1% Fe, 125m @ 33% Fe and 96m @ 32.4% Fe from Axehead, Penrhyn and Tomahawk North respectively (maximum 4m internal dilution, XRF Total Fusion by Amdel)(2).
The magnetite-quartz formations were found to have relatively consistent iron grades across their full width, with the formations also displaying minimal weathering of the magnetite mineralisation.
The iron formations remain open at depth and, like the Tomahawk magnetite deposit, the magnetite at Axehead and Tomahawk North is coarse-grained. The Tomahawk area prospects have to date shown higher average iron grades, minimal oxidation of magnetite and more shallow overburden compared to the Snaefell deposit.