Sydney, Jan 14, 2008 (ABN Newswire) - Image Resources Nl (ASX: IMA) - Eucla Basin Tenements Granted, North Perth Basin Increased - Mr George Sakalidis, MD; Image Resources Nl (ASX: IMA) present the following audio webcast regarding "IMA - Eucla Basin Tenements Granted, North Perth Basin Increased - Mr George Sakalidis, MD". You may also download this audio webcast to your computer or portable audio player.
Audio webcast Link:
http://abnnewswire.net/alnk/QC3814K3
The Serpentine Lake tenements E69/2033, 2034, 2035 covering some 466km2 on the WA side of the Eucla Basin have recently been granted, paving the way forward for heritage clearances and then ground magnetic surveys and exploration drilling to commence. These tenements have been previously highlighted following the zirconenriched heavy mineral grades encountered nearby by Diatreme Resources Limited and announced in previous Image ASX releases of 17 July 2007 and 17 October 2007.
An 80 line-km ground magnetic survey has been completed over the southern part of the adjacent Diatreme tenement and revealed a correlation of high amplitude linear NW ground magnetic targets with the higher grade mineralisation intersected by Diatreme in at least 6 separate targets (see attached map). This verifies the interpretation that 3 palaeo coastlines pass into the Image tenement and gives Image the confidence to carry out ground magnetic surveys to search for the continuation of the mineralisation strands intersected by Diatreme. The target zone is very large being up to 9km wide by 28km in length, and Image is planning to begin heritage clearances, ground magnetic surveys and drilling at the end of the first quarter of this year.
In addition, Image has increased its land holdings to 2047km2 in the North Perth Basin following application for 4 new tenements. Several of these tenements have aeromagnetic targets identified by a recent survey and highlight their prospectivity. Image is now preparing ground magnetic programmes similar to those carried out over its existing tenements. This will prioritize targets for follow up drilling when the new tenements are granted.
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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