Image Resources NL (ASX:IMA) Begins Measured Resources Estimate At Atlas Heavy Mineral Deposit And New Drilling At Gingin And Chandala
Perth, April 8, 2010 AEST (ABN Newswire) - Image Resources NL (
ASX:IMA) (PINK:IMREF) is about to commence the measured resource estimate for its Atlas heavy mineral deposit. The results of this work are expected to demonstrate how attractive this heavy mineral resource is to both end users and producers and allow Image to determine, on a more informed basis, how best to commercialise the project.
Mineralogical work to determine zircon, rutile and ilmenite content and the suitability of the ilmenite as synthetic rutile feedstock is well underway.
- Drilling programmes planned to start in April on very prospective HM targets within the contiguous Chandala and Gingin projects and the Rhea target at Cooljarloo.
- Six months of accelerated drilling programmes planned in the North Perth Basin, where the existing producers have severely depleting reserves. It is envisaged that this drilling will significantly increase Image's existing and globally significant resource of 6.7million tonnes of contained HM.
Work completed:
- 2,345 samples processed since the previous ASX release of 5 March 2010.
Work in progress:
- Mineralogical analysis of composite samples - about 3-4 weeks.
- Geological interpretation and wireframing - about 4-6 weeks.
Planned work:
- Atlas Measured Resource estimate - approximately 4 weeks following completion of mineralogical analyses.
- Drilling of Gingin and Chandala targets - April.
- Drilling of Rhea and other targets - upon finalisation of permitting.
- Drilling of 3 new targets at Cooljarloo North - upon finalisation of permitting.
The infill drilling programme that will support a Measured Resource estimate at Image's high grade Atlas project is now complete (see Table 1 below for the August 2009 Indicated Resource estimate and Table 2 for the Atlas drilling results).
Thirteen of Image's own mineralogical composite samples from Atlas are being analysed, with a further 12 samples being prepared. This test work will provide detailed mineral assemblage information and also test the suitability of the ilmenite as synthetic rutile feedstock. There are currently 5 synthetic rutile plants situated in the Perth Basin owned by existing producers Iluka and Tiwest.
In areas to the east of Atlas, a programme of proposed drilling on the Rhea mineralisation and other magnetic targets in vacant crown land has now been permitted. A review of drilling and geophysical data at Cooljarloo has led to a refined interpretation of both strand and channel-style mineralisation, with new targets generated.
The proposed and permitted drilling on the Gingin and Chandala tenements cover a series of promising high amplitude magnetic targets along strike from Iluka's mining lease. First pass drilling by Image contained intersections of up to 7.8%HM.
Image's testing of its highly prospective targets within the North Perth Basin is expected to significantly upgrade its already substantial 6.7million tonnes of Indicated and Inferred Resources of contained heavy minerals. A number of the high priority targets will be tested within the next six months as part of Image's accelerated drilling programme to assess the 300km of targets identified in the region.
Sample processing from Atlas completed confirming the high grades identified previously, including:
--------------------------------------------------Hole MGA MGA From To Interval HMNumber East North m m m %--------------------------------------------------A162 331839 6618899 2 6 4 23.3A165 331899 6618900 2 6 4 21.3A245 331919 6619700 3 6 3 27.7A250 332020 6619701 2 8 6 24.4A304 332119 6620299 2 4 2 29.0A405 331520 6617464 11 12 1 53.5--------------------------------------------------TABLE 1-------Alas Resource Estimate Heavy Minerals and Mineralisation - August 2009-------------------------------------------------------Category Cut Off Grade Tonnes Grade Slimes t HM %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%-----------------------------------------------------
For the complete Image Resources announcement, please click the link below:
http://www.abnnewswire.net/media/en/docs/62579-ASX-IMA-486564.pdf
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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