Nimy (ASX:NIM) co-funded for rare earth exploration

Nimy Resources will be co-funded by the Western Australian Government for a 1000 metre diamond hole to test for rare earth mineralisation within the Carbonatite Prospect at its Mons Nickel Project hosted in Western Australia’s Forrestania Nickel Belt.

It will mark a significant advancement on a greenfield rare earth prospect which rests in a greenstone belt established by Nimy, resting in an area still untouched by exploration for the suite of technologically in-demand commodities.

NIM.AX

NIMYRES FPO [NIM]

ASX

$0.081

$0.005

5.81%

RC drilling over the prospect continues, and Nimy Resources Executive Director Luke Hampson said the successful application continues to validate its exploration strategy.

“We are very pleased with the support offered by the government exploration incentive scheme that assists exploration companies targeting valuable commodities,” he said.

Should the Mons Carbonatite host significant rare earth elements it will be the first such discovery in the area that we are aware of and may lead to further similar discoveries in the vicinity.”

It would be a lucrative addition to a project already boasting potential massive sulphide mineralisation and high-grade lithium anomalies within a nickel belt host to numerous high-grade deposits extending towards Mons – presenting a 100 per cent owned district-scale opportunity underexplored for future facing commodities.

Mons exploration prospects and target commodities

NIMYRES FPO [NIM]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Nimy Resources Limited, an exploration company, engages in discovering and developing an economic nickel-sulfide project in Australia. The company explores for nickel, lithium, rare earths, gold, other precious metals, and base metals. It also holds a 100% interest in the MONS nickel project comprising various tenements that covers an area of approximately 2,562 square kilometers located within the Archean Murchison Domain of the Youanmi Terrane of the Yilgarn Craton. Nimy Resources Limited was incorporated in 2012 and is based in Perth, Australia.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.