-IMX Resources Reports Release of Shares from Escrow.
ENP Newswire - 22 October 2012
Release date- 19102012 - IMX Resources Limited (ASX: IXR, TSX: IXR) advised that in accordance with ASX Listing Rule 3.10A, 2,300,000 IMX shares will be released from voluntary escrow on 3 November 2012.
This is the first business day following the 24 month escrow period. As announced on 18 October 2010, these shares were issued as a consequence of the termination of a Strategic Alliance Agreement between IMX Resources and Anglo American Investments (Australia) Limited which dated back to 1997.
Neil MeadowsManaging DirectorIMX Resources LimitedTel: +61 8 9388 7877Email: email@example.com
Tony DaweProfessional Public RelationsTel: +61 8 9388 0944Email: firstname.lastname@example.org
About IMX Resources Limited
IMX Resources Limited is an Australian based mining and base & precious metal exploration company duallisted on the Australian and Toronto stock exchanges (ASX / TSX Code: IXR, IXR.WT), with exploration projects located in Australia, Africa and North America.
In Africa, IMX owns and operates the Nachingwea Exploration Project in southeast Tanzania, which includes the potentially word-class Ntaka Hill Nickel Sulphide Project. Nachingwea is highly prospective for nickel and copper sulphides, gold and graphite Mineralization. The Ntaka Hill Nickel Sulphide Project is one of the world's best un-developed nickel sulphide projects and has the potential to produce a clean, high quality premium nickel concentrate.
In Australia, IMX operates and owns 51% of the Cairn Hill Mining Operation, located 55 kilometres south-east of Coober Pedy in South Australia, where it produces a premium coarse-grained magnetite-copper-gold DSO product at a rate of 1.8Mtpa.
IMX is actively developing the Mt Woods Magnetite Project on the highly prospective Mt Woods Inlier in South Australia. IMX currently has a JORC Inferred Resource of 569Mt @ 27% Fe at the Snaefell Magnetite Deposit and a Global Exploration Target of between 200-380Mt @ 25-35% Fe elsewhere in the project. Studies indicate that coarse grained concentrates that could be produced at Snaefell have the potential to produce a direct sinter feed product which has the potential to attract a significant price premium.
IMX has also entered into a joint venture with OZ Minerals (the Mt Woods Copper-Gold JV Project) to explore the Mt Woods tenements for copper and gold. OZ Minerals is spending a minimum of $20M for a 51% interest in the non-iron rights, with IMX retaining a 49% interest in the non-iron rights, and 100% of the iron ore rights.
IMX owns 25.65% of Uranex (ASX: UNX), which is a dedicated uranium exploration company, which is developing the Mkuju Uranium project in southern Tanzania.
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((Distributed via M2 Communications - http://www.m2.com)).END.PUB430>PDOctober 22, 2012>JNTRAVEL BUSINESS REVIEW.PRICEDATENOT APPLICABLE.DAY
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|Date:||Oct 22, 2012|
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