The company holds the district-scale Mons nickel project, comprising 2456sq.km of ground within the Yilgarn Craton.
Executive chairman Simon Lill told the Resources Rising Stars Summer Series last week the project had the same geology as Youanmi to the north and Forrestania to the south.
The company is targeting three types of nickel mineralisation: massive sulphide, komatiite and disseminated sulphide.
While it’s early days, the company has seen some promising signs with the receipt of consistent, low-grade nickel mineralisation, which could be part of a bigger system.
It included 0.14% nickel over a wide intercept.
“It’s not going to be economic or excite you but 363m is a very wide intersection,” Lill said.
Nimy is not put off by the lack of previous exploration in the area.
“We’re actually quite comfortable with underexplored,” Lill said.
Lill is a little more comfortable than some given the “magnificent discovery” made by his other company, De Grey Mining in the Pilbara.
The Hemi gold discovery is more than 8 million ounces and growing.
Lill recalled his good friend Andrew Forrest told him there was no gold in the Pilbara.
“I think we proved him wrong,” he said.
Nimy has a large pipeline of more than 30 targets in six zones.
Five electromagnetic conductor model plates have been generated across three prospects, with soil sampling confirming anomalous nickel across all three.
The company has identified 17 anomalies from an in-loop moving-loop EM survey, with a close-spaced MLEM survey to begin in January.
A 2000m reverse circulation drilling program will follow.
“I think we’d be surprised if there was nothing there,” Lill said.
Nimy listed on the ASX in November last year after a A$6.4 million initial public offering.
The company had $1.65 million at the end of September and Lill acknowledged the company would need to replenish its cash balance soon.
