Perth, April 30, 2008 AEST (ABN Newswire) - Image Resources NL (ASX:IMA)(PINK:IMREF) Announce Quarterly Report for the Period Ended 31 March, 2008.
The full Quarterly Report can be viewed at Image Resources Website:
http://www.imageres.com.au/quarterly.htm
HIGHLIGHTS from the report include:
- Multiple heavy mineral (HM) strands identified at Helene (previously named Target 2) at Cooljarloo North with 4 main strandlines and 3 minor strands over the 4.5km strike of the project.
- Completion of acquisition of the Bidaminna heavy mineral resource (44Mt @ 3%HM) in the North Perth Basin
- Large (18km-long) new HM target identified on recently granted tenement at Bidaminna, increasing the cumulative target length to 62km.
- A comprehensive review of the magnetic database for the North Perth Basin has identified 108 targets over a total strike length of 247km that remain to be drilled, significantly increasing the scope of this major mineral sands project.
- Image's North Perth Basin tenement holdings increased to 2090 square kilometres.
- Significant phosphate potential identified in the Dandaragan Trough north of Perth with 3 of 9 recorded outcropping phosphate occurrences situated on Image tenements.
- Emu Nickel spin-off successfully launched, raising A$10 million.
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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