Image Resources Limited (ASX:IMA) Announce Quarterly Report Highlights

Perth, Jan 31, 2008 (ABN Newswire) - Image Resources Limited (ASX: IMA) Announce Quarterly Report Highlights.

Drilling of Target 2 at Cooljarloo North confirms high grades within 2 main strands over a combined strike length of 9 km.

Cumulative magnetic target lengths at Cooljarloo and Cooljarloo North increased to 120km with preliminary resource estimations in progress on 38km of mineralised strands.

A new large magnetic target, interpreted to be channel style mineralisation, some 18km in length averaging 500m in width identified at Bidaminna. The target is parallel to the Bidaminna Inferred Resource (44Mt @ 3% HM) which is 6km long and 400m wide, indicating scope to significantly increase the resource.

Image's North Perth basin tenement holdings increased to 2047 square kilometres.

Three tenements at granted Serpentine Lakes in the Eucla Basin, paving the way for heritage clearances, ground magnetic surveys and exploration drilling. Orientation surveys indicate adjacent mineralised strands may extend into the tenements for some 28km, providing a major exploration target.

Depth extensions of nickel sulphides confirmed in the first hole of the current drilling programme at Emu Lake and a strong off-hole conductor identified.

Early encouragement from airborne geophysical surveys at the Kambalda West nickel project.

The Emu Nickel IPO is currently open and, subject to market conditions, is aimed at listing on ASX at the end of February 2008.