‘Strong’ overseas interest in Nimy Resources’ gallium discovery near Southern Cross

Junior explorer Nimy Resources says strong overseas interest in its high-grade gallium discovery near Southern Cross will drive its bid to establish a maiden resource of the “emerging” critical metal. Nimy made the find earlier this year at Block 3 East within the Mons project north-west of Southern Cross. The company told the Australian Securities Exchange on Wednesday results of a recently completed soil sampling program at Block 3 East had extended the mineralised footprint and the potential size of the gallium system, and would underpin upcoming step-out drilling. Nimy said soil geochemistry had outlined an anomalous surface area of about 900m x 650m, with a maximum value of 48 parts per million gallium oxide. The company said it planned to undertake an infill drilling program in January, paving the way for completion of the resource. “Nimy’s decision to establish a resource follows preliminary approaches to the company from two overseas groups which have expressed strong interest in securing offtake rights to the Block 3 East gallium,” the company said. Nimy said gallium was used in several cutting-edge technologies, including powerful semiconductor chips, and was on the US critical minerals list. The company said China had a near-monopoly on the supply of gallium, and had slashed exports of the metal following strict limitations imposed by the Chinese Government last year. Nimy executive chairman Luke Hampson said drilling had encountered high-grade mineralisation across a 160m strike length, and it remained open. “We have also intersected high-grade gallium in two drill holes 220m to the west,” he said. “Soil sampling indicates significant potential to keep growing the size of the discovery. “Given the strong interest from potential partner groups, we intend to establish a JORC resource, which will help underpin these discussions.”