Nimy Resources Limited announced that Follow up geophysical modelling at the Nimy Resources Mons Project tenement E77/2683 carbonatite indicates that the pipe like structure continues vertically to at least 1.5kms (model limit). The intact structural integrity could indicate a much later emplacement than the surrounding granites and the Karroun Hill greenstone belt to the east. The hypothesis is made compared to the Mt Weld carbonatite dated at 2020ma surrounded by basalts and rhyolite lava flows inferred age 2960-2650ma.

There is very little geochronological data available for the Mons Project area. The granites have an inferred age of 3010-2600ma using the Forrestania greenstone belt as a reference point (along strike to the south), which has an inferred age of 3131ma-2700ma (greenstone) and 3010ma ­ 2600ma (granites). The company now moves forward with a drill program scheduled for January 2023.

There has been a significant focus on the increased demand for rare earths specifically around the part to be played in achieving net zero carbon emissions through the provision of clean energy technologies. The carbonatite prospect exploration strategy is accelerated to meet the opportunity presented with the discovery of critical rare earth elements. Forward work plan The company's forward work plan at the Carbonatite prospect: Process of soil sampling assays Complete soil sampling across carbonatite area POW and native title approvals Mineralisation and lithological test via reverse circulation drilling of up to 20 holes to 300m Assay of REE suite Assess merits of reverse circulation, air core or diamond drilling follow up campaigns.