IMX Resources Ltd : High Grade Concentrate Achievable at Tomahawk
02/06/2012 | 09:00pm
7 February 2012
HIGH GRADE CONCENTRATE ACHIEVABLE AT TOMAHAWK
Highlights
? 65% Fe concentrate achievable
? Coarse grind size will reduce costs
? Low Phosphorous and other contaminants
Iron ore producer, IMX Resources Limited (ASX:IXR) has
obtained encouraging results from initial Davis Tube Recovery
(DTR) testwork on magnetite samples from the Tomahawk iron
ore prospect. Tomahawk lies 25km southeast of the Cairn Hill
magnetite-copper mine in South Australia.
The preliminary metallurgical assessment of Tomahawk
magnetite samples indicates that a concentrate grading up to
65% Fe can be achieved at a coarse grind size of 250 microns
and a simple magnetic separation process. Indicative mass
yields averaged 32% meaning that a significant amount of
waste material can potentially be removed early in
processing, which in turn will reduce anticipated capital and
processing costs.
Phosphorous and other deleterious elements in the concentrate
are all very low, which suggests a premium iron product can
be produced.
Managing Director Neil Meadows said, "These initial results
demonstrate that Tomahawk has the potential to produce a
quality magnetite concentrate with minimal processing. This
early stage metallurgical testwork is part of IMX's strategy
to focus on quality magnetite projects with development
potential in close proximity to our Cain Hill mine."
The testwork was conducted by Bureau Veritas Minerals
(formerly Amdel) in Adelaide on composite rock chip drill
samples from three of the RC drill holes completed in 2011.
The samples comprised both fresh and oxidised material.
Exploration planning and geological and metallurgical
characterisation for Tomahawk are ongoing.
Tomahawk is located within EL4706 which is part of IMX's 100%
owned Mt Woods Iron Project.
NEIL MEADOWSManaging Director
For further information, please contact:
Neil Meadows Managing Director Tel: +61 8 9388 7877
E: nmeadows@imxres.com.au
Investor Relations:Tony Dawe
Professional Public Relations
Tel: +61 8 9388 0944
E: tony.dawe@ppr.com.au
Competent Persons Statement
Information in this public report relating to exploration
results is based on data compiled by Bianca Manzi who is a
Member of the Australian Institute of Geoscientists, and who
is a full-time employee of the Company. Bianca Manzi has
sufficient relevant experience to qualify as a Competent
Person under the 2004 Edition of the Australasian Code for
reporting of Exploration Results, Mineral Resources and Ore
Reserves. Bianca Manzi consents to the inclusion of the data
in the form and context in which it appears.
About IMX Resources Limited
IMX Resources Limited (ASX: IXR) - is headquartered in Perth,
Western Australia, is listed on the Australian Stock
Exchange (ASX).
IMX is an active diversified mining company with an iron ore
mining project in South Australia, and exploration projects
in South Australia, Tasmania, as well as Tanzania and
Mozambique in East Africa, focusing on iron-ore, nickel,
copper and gold.
IMX owns 51% of the Cairn Hill mine, 55 kilometres south-east
of Coober Pedy, South Australia close to the Darwin -
Adelaide railway. Phase 1 is a unique magnetite Fe - Cu - Au
DSO project. The ore produces a premium coarse grained
magnetite product, with a clean saleable Cu / Au
concentrate.
IMX has a Phase 1 life of mine sales offtake agreement with
the Sichuan Taifeng Group. A Phase 2 resource has been
announced and the joint venture project group is currently
completing a study into its development.
In Tanzania, IMX holds 100% of the Mibango nickel / copper /
platinum project. IMX is currently undertaking extensive
field work to understand the potential of this area.
IMX spun off 70% of the Nachingwea Nickel - Copper project in
Tanzania into Continental Nickel Limited (TSXV:CNI) in August
2007. IMX currently holds 37.0% of Continental Nickel and
retains a 25% interest in the Nachingwea Nickel - Copper
project through a joint venture company structure. IMX is
currently participating in the JV funding requirements in
order to maintain its 25% JV interest.
IMX owns 25.5% of Uranex (ASX:UNX), a spin-off from IMX,
which is a dedicated uranium company with assets in
Australia and Tanzania.
Visit: www.imxresources.com.au
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