Nemex Resources (NXR)

Shares / Stock Code

NXR

Stock Exchange / Sharemarket

ax

Nemex Resources Limited is an Australia-based mining company engaged in acquiring, exploring and developing projects located in Australia and West Africa prospective for iron and other minerals. The company’s projects include the Woodley project, which is situated 600 kilometers northeast of Perth, Western Australia and covers an area of 420 square kilometers; the Ironstone Well project, which is situated 750 kilometers northeast of Perth, Western Australia, and covers an area of 729 square kilometers; the Coastal project, which consists of three separate licenses covering an area of 965 square kilometers situated 90 to 150 kilometers north of Conakry, Guinea; and the Beyla Project, which is located in the eastern part of Guinea, near the city of Beyla, 250 kilometers south of Kankan and 60 kilometers west of the border with Cote d’Ivoire.

Nemex is earning an 85% interest in the Coastal Project, where high-grade hematite mineralisation has been sampled over an ironstone formation at various locations over the 244km² Télimélé licence. Based on recent sampling and geological studies, the company acquired additional licences, bringing its total tenure in the area to 2,911km², where it believes the ironstone continues. Nemex is prioritising the exploration of this project and is pleased that two operational railways pass within 60km of the project, giving a total infrastructure solution should the Coastal Project be developed.

Limited previous iron ore exploration has been conducted at Woodley or Ironstone Well. Nemex has undertaken some reconnaissance drilling on these projects in 2011, and will consider drill testing further targets in 2012.