Nimy Resources : Drilling Confirms Gossan Discovery

only	Drilling confirms gossan discovery
	intersecting semi-massive nickel
	and copper sulphides
use	• Down-dip diamond drill testing of Nimy's nickel-bearing Dease
Gossan at the Mons Project reveals several zones of semi-massive
	nickel and copper sulphides up to four metres in width.
	• Logging of the diamond drill hole (NRDD005) confirms pentlandite,
	chalcopyrite and bornite, hosted by ultramafic, including komatiite,
	and mafic rocks.
personal	• Strongly anomalous levels of cobalt throughout the drill hole were
also detected with the pXRF.
• NRDD005 was terminated at 316 metres in an 80+ metre sequence
	of komatiite rock.
	• Strong nickel and cobalt soil anomaly across the Dease gossan,
	additional gossan outcropping discovered.
	• DHEM (Down Hole Electro Magnetic) survey has recently commenced.
	• The previously-reported first hole at Dease (NRDD004) intersected
	copper, nickel and zinc followed by 487m nickel-copper ultramafic
	zone (see ASX release dated June 22, 2022).
	Nimy Executive Director Luke Hampson, today said:
	"The nickel and copper sulphides in the form of pentlandite and
For	chalcopyrite provide evidence of the increasingly strong prospectivity of
Mons. The hole terminating within a komatiite flow further confirms the
mineralisation-hosting potential of this sparsely-explored and newly
	discovered greenstone belt.
	Ongoing drilling is now planned to follow up other known anomalous
	surface nickel, cobalt and copper assays, complemented by down hole
	geophysical survey analysis.
	The surface at the Dease Prospect primarily comprises sand plain with
	few outcropping rocks. The importance of now being able to correlate
	any surface anomalism with potential nickel copper mineralisation at
	depth cannot be underestimated and is an exciting development going
	forward for the Mons Project".

Page 1 of 15

RELEASE DATE

26th July 2022

COMPANY DETAILS

ASX:NIM

Registered Office

254 Adelaide Tce,

Perth, WA, 6000

Website

www.nimy.com.au

Contact

[e-mail]

BOARD AND MANAGEMENT

Simon Lill

Non-Executive Chairman

Luke Hampson

Executive Director

Christian Price

Executive Director

Henko Vos

Secretary/CFO

Ian Glacken

Geological Technical Advisor

CAPITAL STRUCTURE

Shares on Issue - 114.3m Options Issue - 16.45m

For personal use only

Summary

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. Figure 1 illustrates the nature of the Dease Gossan.

Figure 1 - Picture showing nature of the nickel anomalous Dease Gossan

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) (Figure 3), chalcopyrite (CuFeS2) and bornite (Cu5FeS4) mineralisation were observed (Figure 4) in the preliminary logging. Figure 2 shows oxidised ultramafic and pentlandite mineralisation in drill core respectively.

Hole Identifier	MGA collar coordinates*		EOH depth (m.)	Hole Orientation
Easting	Northing	Elevation	Dip	Bearing
NRDD005	661 ,892	6,679,685	431 m	31 6	-60°	41 °

Table 1 - NRDD005 diamond drill hole information

Page 2 of 15

For personal use only

Figure 2 - Oxidised ultramafic in drill core (below surface gossan) (NRDD005) testing

down-dip of the Dease Gossan (27.8m).

Figure 3 - Pentlandite mineralisation in drill core (NRDD005) testing down-dip of the

Dease Gossan (289.8m, 309.6m).

Page 3 of 15

For personal use only

Figure 4 - Chalcopyrite and bornite mineralisation in drill core (NRDD005) testing down-

dip of the Dease Gossan (308.5m).

Page 4 of 15

For personal use only

Figure 5 - NRDD005 drill cross section

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. Figure 4 illustrates the nature of the chalcopyrite, bornite mineralisation.

Figure 5 in cross section shows location of NRDD005 relative to the Dease gossan location.

Page 5 of 15