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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	IXR
Latest Price:	0.29 (1.75% )
52-week High:	0.77
52-week Low:	0.27
Market Cap:	76.16M

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IMX Resources Full IMX Resources profile here

IMX Resources (ASX: IMX) is an Australian based, diversified resources developer and explorer, holding a diverse portfolio including core projects in copper, nickel, iron ore and PGE.

IMX's strategy is to become a mid-tier miner through the development of a portfolio of assets based on multiple commodities coupled with geographical diversity, with operations and interests in Australia, Africa and India.

IMX Resources confirms iron mineralisation at Snaefell Prospect in South Australia

Friday, November 27, 2009

Diversified miner IMX Resources (ASX: IXR) has reported that new assay results from a historical diamond hole have confirmed the continuity and grade of iron mineralisation at the Snaefell iron ore prospect, located 12km south west of Cairn Hill in South Australia.

As part of the ongoing exploration programme at Snaefell, IMX recently sampled core from a sparsely sampled historical diamond hole drilled by CRA Exploration in 1987, which is stored by Primary Industry and Minerals SA (“PIRSA“) at the core storage facility in Glenside, SA.

The best quarter core sample results include 6m at 27.26% Fe from 46m, 118m at 32.19% from 91m, including 1m at 42.96% of Fe from 145m.

Historical hole DD87LR01 is 242m deep and is located outside the current core area of the target mineralisation model generated from integrating drilling, aeromagnetic and gravity data.

These new iron results show consistent grades and wide intervals that are similar to those reported from recent IMX exploration drilling (ASX: 4 November 2009), 200m to the west, and 150m to the east, and confirm the potential continuity of the iron mineralisation.

Despite recent heavy rains, IMX is currently diamond core drilling to further assess the Snaefell mineralisation and geology.

Recent drilling at Cairn Hill has intersected magnetite to the south and west of the project with target mineralisation of 320-550mt @ 25-35% Fe based on the drilling, ground gravity and aeromagnetics.

The immediate upside for Cairn Hill remains the definition of further resources to support a long term 3-5mtpa operation.

Perth-based IMX, listed on the Australian Stock Exchange with a current market capitalisation of approximately $58m, is an active diversified mining company with projects in South Australia, Tasmania, Tanzania and Mozambique, East Africa.

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