Perth, Mar 19, 2008 AEST (ABN Newswire) - Image Resources (ASX:IMA)(PNK:IMREF) Announce that results from 155 holes totalling 3910m of drilling since November 2007 have increased the cumulative strike length of the three main strands at Target 2 (now renamed Helene) to over 11km. Helene is now recognised to consist of multiple strands over a 4km distance with the three main strands averaging between 50m and 200m in width.
Three subsidiary parallel strands have also been outlined (refer to map) making the zone of interest over 900m in width on the edge of the Gingin scarp. Image Resources' magnetic mapping technique was instrumental in locating the six strands identified to date at Helene. The northern extension of this wide zone is being followed up with a ground magnetic survey covering new tenement E70/3328 with follow up drilling planned upon completion of permitting. Significantly, the larger heavy mineral (HM) deposits, including Eneabba, Cataby, Gingin and Reagans Ford, all occur along the Gingin scarp. The high-grade highlights of the recent drilling, shown in Table1, include:
Table 1 - Helene Drilling Highlights
----------------------------------Hole ID From To Thickness % HM m m m----------------------------------CN885 20 28 8 9.9CN426 20 26 6 11.3CN384 14 22 8 8.3CN291 14 18 4 16.2CN882 20 24 4 14.4CN419 22 26 4 13.4CN889 22 28 6 8.6CN893 20 24 4 11.9CN924 20 24 4 11.3CN899 22 26 4 10.9CN878 16 20 4 10.1CN364 16 18 2 19.0CN328 12 16 4 9.5CN380 14 18 4 9.3CN864 8 12 4 9.1CN341 6 10 4 8.5CN407 24 26 2 16.0CN377 8 12 4 8.0CN406 22 26 4 7.7CN901 18 22 4 7.6CN329 10 14 4 6.9CN867 10 14 4 6.8CN920 20 22 2 13.1CN325 16 18 2 6.0CN901 18 22 4 7.6CN391 18 20 2 11.0CN928 16 18 2 8.3CN935 16 18 2 8.9CN855 8 10 2 8.8----------------------------------
836 holes for a total of 21,200m have now been drilled at Helene (including historical drilling). Of the 2,806 samples processed so far, 1,297 exceed a cut off of 2% HM (average grade 5.3%) and 126 exceed 10% (average grade 14.5%) with a highest grade of 36.9%. In total, 372 holes have intersections of 2% HM or more as summarised in Table 2. Resource estimation is being finalised on the Hyperion main strand and the Helene multiple strands at Cooljarloo North together with the 35AHD, 28,000 and Mid Level strands, and the channel mineralisation at Cooljarloo.
Table 2 - Helene Drill Intersections
---------------------------------------------Hole ID MGA MGA From To Interval % HM EAST NORTH m m m---------------------------------------------CN287 330364 6637199 12 14 2 2.6CN288 330391 6637201 12 14 2 2.7CN291 330830 6637203 12 26 14 6.3CN294 330949 6637199 14 20 6 3.5CN297 330499 6637002 16 18 2 3.4CN301 330947 6637000 16 18 2 6.4CN308 331082 6636797 10 14 4 3.8CN310 330713 6636603 14 18 4 3.1CN311 330751 6636600 12 16 4 4.5CN314 330972 6636596 10 16 6 4.7CN316 331181 6636598 12 18 6 4.8CN317 331219 6636600 12 16 4 4.2CN320 330829 6636401 14 18 4 3.2CN323 331018 6636398 12 18 6 3.6CN325 331087 6636401 12 18 6 5.3CN328 331300 6636401 12 18 6 7.1CN329 331329 6636400 8 16 8 5.4CN330 331357 6636400 12 16 4 6.0CN332 330789 6636201 10 16 6 5.2CN333 330930 6636202 12 16 4 4.3CN334 331018 6636202 14 28 6 5.9CN337 331179 6636199 12 16 4 3.6CN338 331400 6636198 10 14 4 6.0CN339 331429 6636200 10 14 4 4.6CN341 331049 6636001 6 10 4 8.5CN343 331119 6635999 6 12 6 3.3CN347 331349 6636000 4 8 4 4.7CN349 331490 6636001 10 14 4 3.2CN351 331547 6635998 6 14 8 2.9CN354 331191 6635800 8 14 6 2.8CN355 331256 6635801 8 16 8 3.9CN358 331411 6635800 6 10 4 3.1CN362 331611 6635801 16 20 4 4.0CN364 331689 6635803 14 18 4 11.8CN366 331260 6635603 8 14 6 3.5CN367 331300 6635600 8 12 4 6.0CN368 331399 6635599 12 24 6 5.3CN377 331391 6635407 8 12 4 8.0CN378 331429 6635403 8 14 6 3.7CN380 331511 6635402 14 18 4 9.3CN381 331699 6635403 12 18 6 4.1CN384 331863 6635400 14 22 8 8.3CN385 331900 6635401 12 14 2 3.7CN386 331581 6635201 10 14 4 5.1CN387 331620 6635200 8 16 8 3.5CN388 331660 6635200 12 18 6 7.5CN390 331839 6635200 12 18 6 4.1CN391 331882 6635200 14 22 8 6.1CN392 331921 6635200 16 18 2 4.9CN393 332000 6635200 20 26 6 3.5CN394 332041 6635201 10 14 4 4.6CN395 331720 6635001 10 18 8 3.6CN396 331760 6635002 12 18 6 4.2CN397 331800 6635002 12 20 8 4.8CN399 331999 6635000 20 28 8 3.0CN400 332031 6635000 22 34 12 3.8CN404 331869 6634798 16 24 8 3.4CN406 331930 6634800 20 26 6 6.5CN407 331956 6634799 22 26 4 10.5CN408 332120 6634800 24 32 8 5.2CN412 331994 6634598 16 24 8 4.2CN413 332039 6634598 20 26 6 4.7CN414 332080 6634597 20 28 8 4.7CN416 332279 6634601 24 34 10 4.7CN419 332400 6634599 20 30 10 8.0CN421 331932 6634399 14 18 4 3.4CN422 332102 6634399 16 22 6 2.5CN423 332132 6634399 14 22 8 2.8CN425 332220 6634399 18 26 8 4.5CN426 332248 6634397 20 26 6 11.3CN428 332460 6634398 18 20 2 2.8CN429 332507 6634399 20 26 6 3.0CN432 332071 6634201 10 22 12 3.6CN433 332288 6634199 14 20 6 4.7CN435 332362 6634201 18 24 6 3.2CN767 332542 6634401 10 24 6 3.0CN834 331212 6636554 10 16 6 5.8CN835 331229 6636564 14 17 3 3.9CN839 330493 6637041 17 19 2 3.3CN847 330759 6636257 12 16 4 4.0CN848 330827 6636299 14 16 2 2.5CN849 330846 6636313 14 16 2 2.8CN850 330878 6636334 16 18 2 3.4CN851 330895 6636345 14 19 5 5.8CN852 330910 6636354 14 18 4 5.0CN853 331041 6636434 12 18 6 3.6CN854 331012 6636419 12 18 6 3.9CN855 330852 6636085 6 10 4 6.3CN856 330835 6636072 8 10 2 3.1CN858 330985 6636172 14 16 2 3.5CN859 331003 6636184 14 18 4 3.4CN860 331118 6636254 10 16 6 3.7CN861 331155 6636274 14 16 2 3.6CN862 330943 6635903 10 14 4 3.4CN863 331097 6636002 4 10 6 3.3CN864 331126 6636024 6 12 6 6.8CN867 331229 6635850 6 14 8 4.7CN868 331332 6635676 8 14 6 3.1CN869 331280 6635640 6 14 8 5.0CN873 331535 6635328 12 30 10 2.9CN874 331549 6635336 12 18 6 4.2CN875 331483 6635295 12 16 4 4.9CN877 331746 6634997 16 20 4 3.2CN878 331796 6635030 12 20 8 7.2CN881 331877 6634843 16 24 8 3.7CN882 331904 6634857 20 24 4 14.4CN884 332436 6634488 24 30 6 2.3CN885 332454 6634499 18 28 10 8.8CN887 332100 6634505 18 28 10 4.7CN888 332067 6634482 16 24 8 4.0CN889 332135 6634528 20 28 8 7.4CN891 332218 6634342 14 22 8 4.1CN892 332237 6634353 14 24 10 4.8CN893 332272 6634374 20 26 6 9.0CN894 332467 6634033 16 26 10 4.5CN895 332454 6634022 16 24 8 5.1CN896 332486 6634047 20 24 4 5.6CN899 332562 6634301 20 28 8 7.3CN900 332586 6634313 20 26 6 4.2CN901 332620 6634130 18 24 6 5.9CN902 332637 6634139 20 22 2 2.3CN903 332657 6634149 16 18 2 2.5CN905 332607 6634119 16 28 12 3.0CN906 332589 6634107 12 24 12 3.1CN907 332570 6634096 18 24 6 2.7CN908 332553 6634085 18 24 6 4.1CN910 332747 6633971 20 26 6 4.1CN911 332768 6633984 10 20 10 2.3CN913 332799 6634006 8 14 6 3.1CN914 332816 6634017 8 28 8 2.9CN915 332833 6634028 16 22 6 5.6CN919 332564 6633853 16 26 10 4.1CN920 332547 6633840 16 24 8 6.4CN921 332531 6633830 16 22 6 4.6CN922 332514 6633820 16 22 6 2.9CN923 332581 6633864 16 24 8 4.7CN924 332596 6633876 14 24 10 6.6CN925 332612 6633886 14 20 6 6.7CN928 332322 6633817 14 20 6 4.5CN929 332330 6633823 16 18 2 2.8CN930 332305 6633806 16 18 2 2.8CN931 332419 6634000 14 22 8 4.0CN932 332385 6633978 22 24 2 2.2CN933 332150 6634063 14 20 6 3.1CN935 332050 6634237 12 20 8 4.4CN936 332033 6634226 16 20 4 3.0CN939 331455 6635281 12 16 4 4.0CN940 331464 6635764 6 14 8 4.2CN943 331363 6635937 2 12 10 4.1CN944 331397 6635959 2 10 8 3.7CN945 331330 6635915 2 10 8 3.4CN948 330953 6636625 10 16 6 4.2---------------------------------------------
1 or 2m samples, grades determined by TBE heavy liquid separation For more information on the company visit www.imageres.com.au
The information in this report that relates to geophysics 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 mineralization 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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