Perth, Jan 22, 2008 AEST (ABN Newswire) - Image Resources Limited (ASX: IMA) Announce that following reprocessing of geophysical data and reinterpretation of drilling results over the Bidaminna Resource, Image has outlined a very large channel/strand target at Bidaminna which is 18km long and averages 500m in width with sections up to 1km in width. This target is much larger than the channels drilled to date at Cooljarloo which at this stage total some 9km in length.
The Bidaminna Resource (44Mt @ 3% HM), which was previously drilled out by Geopeko outlining a deposit some 6km in length and 400m in width, is situated just 1km to the west of the new target. This augers well for the new target zone which is three times the length and is 100m wider on average. In addition, the interpreted magnetic data for this new target is high in quality, with good line to line correlation. The average ground magnetic amplitude of the anomaly outlining the new target zone is 0.9nT which is similar to that at the Bidaminna Resource.
Image holds tenements over 40% of the extent of the Bidaminna Resource. It also has an additional 6km long target directly along strike and north of the Resource. In total there are more than 30km of new targets shown up by this recent work outside Bidaminna Resource.
The tenement is expected to be granted in February. Image is now planning to carry out heritage and botanical surveys followed up by a drilling programme over the 18km new target and the northern extension of the Bidaminna Resource. The new target zone opens up the southern part of the North Perth Basin for the discovery of large, high volume channel deposits of the type identified by Image in the Cooljarloo area.
About Image Resources NL
Image Resources NL (ASX:IMA) is a mineral sands focused mining company operating an open-cut mine and ore processing facility at its 100%-owned, high-grade, zircon-rich Boonanarring Project, located 80km north of Perth in the infrastructure rich North Perth Basin.
Boonanarring is arguably one of the highest grade, zircon-rich mineral sands projects in Australia. Construction and project commissioning were completed on-time and on-budget in 2018. Production commenced in December 2018 and HMC production ramped-up to exceed name-plate capacity in only the second month of operation. The Company achieved profitability in Q1 2019 and was cashflow positive in Q2 2019 and is now at steady state production.
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