Nimy Resources (NIM) has made a potentially-lucrative addition to the exploration riches emerging at its Mons project in WA, with soil sampling outlining a large lithium anomaly.

The high-grade lithium anomaly has been outlined over 2.8km, making it a significant drilling target by any measure.

But what was probably more pertinent to investors with longer memories were the parallels drawn between the Nimy anomaly and the anomaly which led to the discovery of the huge Earl Grey lithium deposit south of Mons.

Earl Grey is the centre piece of the Mt Holland lithium project, which is now owned by Wesfarmers. Wesfarmers acquired the project via its $776 million takeover of Kidman Resources in 2019. Nimy has a market capitalisation of just $32 million.

Mt Holland sits on the Forrestania Nickel Belt, which also houses the Mons project.

Nimy Resources Executive Director Luke Hampson said the strength of the results at Mons “aligns with the Earl Grey deposit discovery within the Forrestania Belt south along strike from the Mons Project”.

“This is the first coherent lithium anomaly at Mons and now requires further soil sampling to map the true extent of the find,” Mr Hampson said.

“Along with the more developed nickel and emerging rare earth element exploration we are beginning to see what the real potential at Mons is.”

The area will now be subject to further soil sampling to map the extent of the anomaly and permits will be lodged to test the area given that no outcropping has been encountered.

News of the lithium anomaly comes just a few weeks after Nimy announced more assays which revealed drilling had interested large widths of nickel mineralisation with cobalt and magnesium oxide.

The results also confirmed the presence of nickel sulphide-bearing komatiite to the end of the holes.

Mr Hampson said the results were further evidence of a potentially large, mineralised nickel system at Mons.

“The Nimy exploration strategy is targeting significant high grade nickel massive sulphides and large low grade nickel sulphide deposits within komatiite flows,” he said.

“The consistency of nickel sulphide mineralisation associated with magnesium oxide mineralisation shows we are in a large komatiite system and are now methodically working towards where the nickel  is concentrated.

“Nimy is well on the way to establishing a significant nickel province across the 2564km² tenement holding.”

 

 

 

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.