Perth, June 10, 2008 AEST (ABN Newswire) - Image Resources Limited (ASX:IMA)(PINK:IMREF) announce a detailed ground magnetic survey (100m line spacing) has been completed over a recently granted tenement (E70/3328) at Cooljarloo North. The survey has identified two anomalous zones some 0.5km x 1.5km and 0.5km x 1.2km in area as shown on the map below. The western anomalous zone is interpreted to be the northern extension of the Helene heavy mineral resource. Indicated Resources at Helene currently stand at 11.5Mt @ 4.5%HM using a 2.5% HM cut off as shown in the tables below.
The strong response in the core of the targeted extension indicates potential to increase the strike length of the Helene resource to 5.3km and to significantly increase this resource. In addition, the eastern magnetic target identified suggests potential for a third mineralised strand at Cooljarloo North which has yet to be tested. Subject to finalisation of land access agreements and to rig availability, Image plans to start a 6,500m drilling programme on these attractive targets in July.
Helene Indicated Resource Summary-----------------------------------------------Cut off Volume Tonnes HM Slimes HM %HM cu.m % % Tonnes-----------------------------------------------10 170,000 370,000 12.5 19.0 50,0005 1,450,000 3,000,000 7.3 18.5 220,0004 2,700,000 5,500,000 6.0 18.4 330,0003 4,600,000 9,500,000 4.9 18.5 470,0002.5 5,600,000 11,500,000 4.6 18.6 520,0002 6,400,000 13,200,000 4.3 18.6 560,0001 7,200,000 14,900,000 4.0 18.6 590,000-----------------------------------------------Helene Heavy Mineral Assemblages (Optical Method)---------------------------------------------------------Cut off Ilmenite Leucoxene Zircon Monazite Garnet + Other%HM t + Rutile t t Staurolite t t t---------------------------------------------------------10 30,000 1,400 5,300 100 700 3,3005 170,000 7,500 24,000 500 3,300 19,0004 240,000 12,000 35,000 800 4,900 31,0003 350,000 17,000 49,000 1,300 7,000 46,0002.5 390,000 19,000 55,000 1,500 7,800 53,0002 410,000 21,000 59,000 1,600 8,400 57,0001 430,000 22,000 62,000 1,700 8,800 60,000---------------------------------------------------------
Note:
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.
| ||
|
