Perth, June 10, 2008 (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
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Cut off Volume Tonnes HM Slimes HM
%HM cu.m % % Tonnes
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10 170,000 370,000 12.5 19.0 50,000
5 1,450,000 3,000,000 7.3 18.5 220,000
4 2,700,000 5,500,000 6.0 18.4 330,000
3 4,600,000 9,500,000 4.9 18.5 470,000
2.5 5,600,000 11,500,000 4.6 18.6 520,000
2 6,400,000 13,200,000 4.3 18.6 560,000
1 7,200,000 14,900,000 4.0 18.6 590,000
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Helene Heavy Mineral Assemblages (Optical Method)
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Cut off Ilmenite Leucoxene Zircon Monazite Garnet + Other
%HM t + Rutile t t Staurolite t
t t
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10 30,000 1,400 5,300 100 700 3,300
5 170,000 7,500 24,000 500 3,300 19,000
4 240,000 12,000 35,000 800 4,900 31,000
3 350,000 17,000 49,000 1,300 7,000 46,000
2.5 390,000 19,000 55,000 1,500 7,800 53,000
2 410,000 21,000 59,000 1,600 8,400 57,000
1 430,000 22,000 62,000 1,700 8,800 60,000
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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.
