Nimy’s Mons Project Faces Critical Test as Exploration Advances Amid Funding and Leadership Changes

Exploration Breakthroughs at Masson Prospect

Nimy Resources has reported compelling progress in its December 2024 quarter, highlighted by diamond drilling results at the Masson Cu-Ni-PGE Prospect within the Mons Project in Western Australia. The final hole of the recent drill campaign intersected a broad zone of massive and semi-massive sulphides, returning high-grade copper, nickel, cobalt, and platinum group elements (PGE). Notably, assays revealed 4.3 metres at 0.50% copper and 0.29% nickel from 295.1 metres depth, including higher-grade intervals exceeding 1% copper equivalent.

This drilling campaign has delineated a high-grade copper lens extending 240 metres along strike and up to 62 metres downhole, with mineralisation remaining open at depth and along strike. Elevated molybdenum assays, identified as a copper pathfinder, have further extended the copper target zone by 1.4 kilometres north and 700 metres south, supported by coincident VTEM geophysical anomalies and soil sampling.

Block 3 East Gallium Prospect Emerges as a World-Class Target

At Block 3 East, located 14.2 kilometres south of Masson, reverse circulation drilling confirmed world-class gallium mineralisation within ultramafic rocks. Multiple drill holes returned substantial intervals with gallium trioxide grades exceeding 100ppm, including a peak composite assay of 495ppm Ga2O3. The gallium mineralisation is accompanied by anomalous rare earth oxides such as cesium, lanthanum, and yttrium, indicating a polymetallic system of significant interest.

Surface geochemical sampling using the proprietary Ultrafine+™ technique has expanded the known surface footprint of the gallium zone, while geophysical surveys align with updated soil sample results. Post-quarter, Nimy released an Exploration Target for the Block 3 Prospect estimating 9.6 to 14.3 million tonnes at an average gallium grade of 39 to 78ppm, with higher grades observed at depth.

Strategic Funding and Research Partnerships

Financially, Nimy Resources strengthened its position by completing a $678,000 capital raise at 6 cents per share, targeting sophisticated investors. The company also received a $1.12 million R&D tax incentive refund, bolstering its cash reserves to $730,000 at quarter-end. Exploration expenditure for the quarter was $398,000, focused primarily on drilling, geophysical work, and sample analysis.

In a significant development, Nimy secured a CSIRO Kick-Start grant to collaborate on a Critical Mineral Indicator Study. This partnership aims to leverage CSIRO's innovative IM4NiS model and expertise to refine exploration targeting for nickel sulphide deposits across the Mons Project. The study will focus on key prospects including Masson, Block 3, and Dease & Godley, potentially accelerating discovery and resource definition.

Leadership and Governance Updates

The quarter also saw important board and management changes. Simon Lill resigned as Chairman in November 2024, with Neil Warburton appointed as Non-Executive Director and subsequently Chairman from January 2025. Warburton brings over 45 years of mining industry experience, including leadership roles at IGO Ltd and Barminco Limited. Additionally, Dr John Simmonds joined as Technical Advisor – Geology, bringing deep expertise in Cu-PGE-Ni targeting models and academic research credentials.

These leadership appointments underscore Nimy’s commitment to advancing its exploration programs with seasoned industry expertise and technical rigor.

Outlook for the Mons Project

Nimy Resources’ December quarter results mark a pivotal step in unlocking the Mons Project’s potential as a source of critical metals essential for the energy transition. The combination of high-grade copper and gallium discoveries, robust funding, and cutting-edge research collaborations positions the company well to expand its resource base and attract further investment. The ongoing drilling campaigns and forthcoming assay results, coupled with CSIRO’s advanced mineral indicator studies, are expected to sharpen exploration focus and potentially accelerate resource delineation.