Nimy Resources previously reported to the ASX (29th March 2022) that it had made a nickel gossan discovery at the Dease Prospect, within its Mons Project, centred 140 kilometres north-northwest of Southern Cross in the Central Yilgarn. The gossan was exposed when digging sumps for a planned drill programme. The portable XRF (pXRF) reported up to 0.96% Ni.

As a consequence of the gossan discovery, Nimy Resources planned a follow up diamond drill hole to test for sulphide-hosted nickel mineralisation at depth and down-dip of the gossan find. The diamond drill hole (NRDD005) was completed in early July, where several zones up to four metres width of pentlandite ((Fe,Ni)9S8), chalcopyrite (CuFeS2) and bornite (Cu5FeS4) mineralisation were observed in the preliminary logging. The drill hole was terminated at 316 metres after drilling over 80 metres of variably serpentinised komatiite flows, which hosted the nickel sulphide (pentlandite) mineralisation.

The geochemistry, as ascertained from the pXRF readings, indicates a mixed sequence of mafic and ultramafic rocks. The nickel anomalism at the Mons Project is inferred to be hosted by an 80-kilometre striking, previously unrecognised, and thus sparsely explored, Archean greenstone belt. It is inferred to be the north-north western extension of the Southern Cross Greenstone Belt that hosts the Forrestania nickel deposits.

The nickel and copper sulphide zones are generally non-coincident and the genesis of the copper sulphides remains unclear, however, it is anticipated that this will be resolved after detailed logging has been completed. Nimy believes that the coinciding gossan identification, geophysics, soil geochemical anomalies (nickel, cobalt), core visual and pXRF results enable a better understanding of the significance of the gossan finds. Soil sampling across the Nimy tenements has identified a strong Ni-Co soil anomaly over the Dease gossan area (containing NRDD005).

All the NRDD005 drill core has been sent to Kalgoorlie where detailed logging and sample collection for assaying will be completed. Nimy has organised to complete a downhole EM survey of NRDD005, commencing the 22nd July 2022. Further updates on this drill hole will be released once assaying is completed.

The diamond drilling programme is continuing and Nimy is confident of further exploration success. An Olympus Vanta M Series pXRF was used to collect the readings. Important Note: in relation to the reporting of visual mineralisation, the Company highlights that visual estimates of sulphide abundance, even when confirmed by portable XRF analysis in the field, cannot be considered a substitute for laboratory analysis.

Assay results are required to determine the exact widths and grades of the sulphide mineralisation identified. When these results are available, the Company will provide an update to the market.