Image Resources NL (ASX:IMA) Measured Resource Drilling At High Grade Atlas Project Completed
Perth, Mar 5, 2010 AEST (ABN Newswire) - Image Resources NL (
ASX:IMA) (PINK:IMREF) infill drilling programme that will support a measured resource estimate at Image's high grade Atlas project is complete. This drilling closes the drill hole pattern to 100m x 20m, and brings the number of holes drilled at Atlas to 1,721, for a total of 22,130m. Forty percent of the sample processing is complete. Results so far confirm the high grades found last year and have extended high grades 200 metres to the south.
Thirteen of Image's own mineralogical composite samples from Atlas are being analysed, with another 12 to be prepared. This test work will provide detailed mineral assemblage information and also test the suitability of the ilmenite as synthetic rutile feedstock.
In areas to the east of Atlas, a programme of work of drilling on the Rhea mineralisation and other magnetic targets in vacant crown land has been approved by the DMP. A review of drilling and geophysical data has led to a refined interpretation of both strand and channel-style mineralisation, with new targets generated.
Table 1
Alas Resource Estimate Heavy Minerals and Mineralisation - August 2009
-----------------------------------------------------Category Cut Off Tonnes Grade Slimes t HM Grade %HM %HM %-----------------------------------------------------Indicated 2.5 14,600,000 6.2 15.6 910,000-----------------------------------------------------Atlas Resource Estimate Heavy Mineral Suite-----------------------------------------------Category Ilmenite Leucoxene Zircon Other + Rutile-----------------------------------------------Inferred 555,000t 66,000t 102,000t 186,000tInferred 61.0% 7.3% 11.2% 20.4%-----------------------------------------------
Highlights
- Close spaced 100m x 20m drill pattern
- High grade mineralisation extended 200m further south.
- Drilling confirms high grades discovered previously, including:
---------------------------------------------------Hole MGA MGA From To IntervalNumber East North m m m % HM---------------------------------------------------A105 331739 6618125 3 5 2 33.1A122 331759 6618299 4 7 3 22.3A123 331779 6618299 4 7 3 22.0A142 331799 6618501 4 7 3 31.1A143 331820 6618503 3 7 4 23.2A144 331839 6618504 1 7 6 37.4A145 331859 6618502 0 6 6 28.2---------------------------------------------------
Work completed:
- 388 holes for 4,268 metres drilled at Atlas, bringing the resource drilling total to 1,721 holes for 22,130 metres. Hole spacing over the entire deposit is now 100m x 20m, more than adequate to support a measured resource estimate.
- 1,925 samples assayed so far (about 45% of total).
- 31 drill holes completed at the nearby Titan resource.
- 2 Geotechnical core holes completed, and remain as water monitoring bores.
Work in progress:
- Remaining assays - about 3-4 weeks.
- Mineralogical analysis of composite samples - about 5-6 weeks.
Planned work:
- Measured resource estimate - approximately 4 weeks following completion of mineralogical analyses.
- Drilling of Rhea and other targets - upon finalisation of approvals.
- Drilling of 3 new targets at Cooljarloo North - upon finalisation of approvals.
For the complete Image Resources ASX Announcement including further tables and figures, please click the link below:
http://www.abnnewswire.net/media/en/docs/62401-ASX-IMA-482894.pdf
About Image Resources NL
Image Resources NL (ASX:IMA) is a mineral sands focused miner and supplier of critical minerals titanium dioxide, zircon and monazite containing rare earth elements for sale into global markets. The Company has a demonstrated track record of successful project development and operations at its Boonanarring project located 80km north of Perth in the infrastructure rich North Perth Basin.
Boonanarring was a high-grade, high-zircon, low capital cost mine development that was constructed on-time and on-budget in CY2018 and then ramped up to name plate capacity in the second month of operation and went on to operate profitably through Q3 2023. Debt for the project was paid off early in February 2021 and the Company paid dividends to shareholders in April 2021 and April 2022.
Image completed critical construction of the Atlas project in January 2025 and started commissioning and achieved first HMC production in February 2025 and will be ramping up production and revenue from Atlas in Q2 CY2025.
Chapter 1 operating strategy for Image involved the transition from advanced explorer to active miner in CY2018, operating a single mine and producing a single product (HMC) sold into a single jurisdiction (China). Chapter 2 strategy (post Atlas) will focus on the Company's growth and sustainability ambitions which includes the operation of multiple mines in parallel, producing multiple products (separating HMC), and selling into a global market.
The Company is also investigating a significant value adding step of upgrading its ilmenite to synthetic rutile using a lower GHG emissions, innovative process which Image has provisionally patented, and aims to demonstrate the technical and economic feasibility of this novel process in CY2025-26.
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