Base metals explorer to increase Tanzania nickel deposit
Base metals exploration company IMX Resources is aiming to increase the current nickel sulphide deposit and establish a world-class nickel project at its Ntaka Hill nickel sulphide project, in south-east Tanzania, through the ongoing Nachingwea exploration project, says IMX Resources MD Gary Sutherland.
The Nachingwea property, which is highly prospective for nickel, copper, gold and other minerals, including graphite, is the subject of a joint venture agreement between IMX Resources and global resources company MMG Exploration. Under the agreement, MMG can earn up to a 60% interest in the Nachingwea property by spending up to $60-million over a five-year period. However, the company is required to spend $10-million during Stage 1 of the project to earn an initial 15% interest.
Read more at: http://www.miningweekly.com/article/base-metals-explorer-to-increase-tanzania-based-nickel-deposit-2014-08-15
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