Nimy eyes maiden gallium resource as Block 3 drilling wraps up

Nimy has completed key drilling milestones and is on target for a December quarter debut of its maiden Block 3 gallium resource.

Nimy Resources completes drilling programs ahead of a maiden resource estimate at the Block 3 gallium discovery in WA. Pic: Getty Images

• Nimy Resources finishes phase 2 and 3 drilling programs at Block 3

• Assays pending from 21 holes

• A steady stream of news flow is expected in the coming weeks

Special report: Nimy Resources is on track to unveil its maiden Block 3 gallium resource in the December quarter after completing phase 2 and 3 reverse circulation drill campaigns.

The 25-hole drill campaign for 5944m was designed to infill and extend the 9.6Mt to 14.3Mt JORC exploration target at a grade range of 39-78ppm gallium.

Latest drill results confirm the potential for the asset to emerge as a standalone gallium development with consistent, near-surface and deeper mineralisation intersected across all holes.

Results to date include 240m at 55g/t gallium trioxide, including 56m at 101g/t from 60m; 240m at 57g/t Ga203, including 20m at 102g/t from 40m; and 240m at 30g/t Ga203, including 28m at 59g/t from 216m to the end of the hole.

Assays remain pending for 21 holes in phases 2 and 3.

More gallium and critical minerals to be found

Block 3 is within the wider Mons project in WA’s Mons greenstone belt, northwest of the Forrestania nickel-lithium district.

Definition of a gallium exploration target in January set the scene for what could become WA’s first superior source of primary gallium, a key metal used in the production of semiconductors.

It could translate to lower operating and capital costs, positioning the Mons project as a strategic asset in securing Western supply of a critical mineral impacted by Chinese export controls.

East Coast Research analyst Rahul Tiwari said so far only 10% of Nimy’s (ASX:NIM) target area had been assessed, indicating significant potential of further discovery of gallium as well as other critical minerals such as copper, gold and nickel.

“Steady stream of assays over coming weeks”

NIM managing director Luke Hampson said the successful completion of Block 3 drilling marked another milestone in the company’s strategy to establish a substantial high-grade gallium deposit and capitalise on global demand for the metal.

“We expect a steady stream of assays over coming weeks, ensuring we have strong news flow in the lead up to the calculation of a maiden resource,” he said.

“Given the high-grade results from the first four holes of phase 2, we are very optimistic about our ability to unlock the full potential of Block 3”.

This article was developed in collaboration with Nimy Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Nimy eyes maiden gallium resource as Block 3 drilling wraps up