Is De Grey Mining (ASX:DEG) Chairman Simon Lill about to strike it rich again?

With De Grey’s multi-million-ounce gold discovery in WA now well on the path to production, Lill has another big iron in the exploration fire as chairman of WA nickel explorer Nimy Resources (ASX:NIM).

Nimy believes it has uncovered strong evidence that high-grade nickel may be present at its Mons nickel project in WA.

The company today unveiled a highly promising intersection of up to 0.48% nickel in sulphides with copper and cobalt over a huge 316m intersection at Mons.

The result is considered particularly important because it sits directly below the nickel gossan outlined at the Dease prospect within Mons. This outcropping gossan has been mapped over 1.1km in a horseshoe shape.

Mons sits in the northern extension of the world-famous Forrestania nickel belt, 370km north-east of Perth.

Nimy has already established a pipeline of more than 30 nickel prospects of which Dease is one of the prospects.

Nimy Executive Director Luke Hampson said the gossan provided strong evidence that the company was closing in on a high-grade nickel discovery.

“The Dease gossan find has been moved to the highest priority in the next stage of exploration,” Hampson said.

“The combination of gossan outcropping, nickel sulphide mineralisation and the upcoming EM surveys to further define anomalies present within the current data set augers well in locating significant nickel sulphide accumulation.

“The Nimy exploration strategy is targeted at significant high grade nickel massive sulphides and large low grade nickel sulphide deposits. The gossan find is the first indication of zeroing in on the high- grade nickel we believe to be present.

“Together with the earlier substantial low- grade results at Godley we are very much on target to establishing a significant Nickel province across our 2500km holding.”

The assay results from the Dease hole include:

  • 6m @ 0.31% Ni (14-20m), including 3m @ 0.37% Ni (14-17m), including 1m @ 0.48% Ni (16-17m)
  • 4m @ 0.30% Ni (26-30m), including 2m @ 0.37% (27-29m)
  • 226m @ 0.16% Ni contained within the 316m width open at end of hole

In light of these highly promising results, Nimy will now undertake geophysics to home in on areas of higher-grade mineralisation.

Nimy says the results “point toward a possible nearby concentration of nickel sulphides”.

“Typically nickel gossans are a surface expression of deeper massive sulphide mineralisation,” the company says.

“The gossan positioned over the substantial ultramafic enhances the probability of a massive sulphide nearby.”

Assays are pending from three more diamond holes at Dease. The Dease MLEM survey analysis is also  underway and will be coupled with structural interpretation, lithology, and interpretation of the geochemical results.



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.