Perth, Jan 23, 2008 AEST (ABN Newswire) - Image Resources (ASX: IMA) wishes to confirm the classification of the Bidaminna resource referred to in yesterday's ASX release. The Bidaminna resource was drilled and reported on by Geopeko (a subsidiary of Peko Exploration Ltd) in 1992 (Annual Report, Cataby Joint Venture, August 1992). Image has previously referred to Bidaminna as an Inferred Resource (ASX release 15 July 2005).
The resource was drilled by Geopeko using an aircore method with drill holes on a 400m x 40m spacing. Rotary split samples were processed at Western Geolabs' laboratory in Perth. The resource was estimated using a polygonal cross sectional method applying a bulk density factor of 1.7 and a heavy mineral (HM) cut-off grade of 1%.
Geopeko classified Bidaminna as an Indicated Resource totaling 44Mt @ 3% HM, however as some minor aspects of the original data can no longer be verified, Image is confident that Bidaminna can be classified as a JORC-compliant Inferred Resource. Image holds tenements over about 40% of the Bidaminna resource area and upon grant of the tenements plans to carry out further tests to validate and upgrade the resource in this area.
The information in this report is based on information compiled by George Sakalidis BSc (Hons), who is a member of the Australasian Institute of Mining and Metallurgy. George Sakalidis is an employee of Image Resources NL. George Sakalidis has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. George Sakalidis consents to the inclusion of this information in the form and context in which it appears in this report.
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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