Perth, June 16, 2008 AEST (ABN Newswire) - Image Resources (ASX:IMA)(PINK:IMREF) announce a study of open file information has indicated that the favourable stratigraphy hosting the Dandaragan Trough phosphate sands are likely to extend for a strike length of more than 50km within Image's exploration tenements.
As noted in a previous ASX release (18 March 2008) three of nine recorded outcropping phosphate occurrences in the Dandaragan area occur on Image's tenements. Previous work by the Geological Survey of WA in the 1940's, BHP in the 1970's and Wesfarmers/Australian Fertilisers in the 1980's has demonstrated that phosphate sands are widespread within Upper Cretaceous sediments of the Dandaragan Trough which forms part of the North Perth Basin.
It is significant that one of the best intercepts from previous drilling (19m @ 4.2% P2 05 from 20m depth in Wesfarmers/Australian Fertilisers drill hole 57 situated east of Image's tenements) is located some 10km east of the projected outcrop of the base of the favourable stratigraphy which occurs on the Image tenements. This suggests potential for extensive, shallow phosphate bearing sediments within the Image tenements, depending on the relationship between topography and the flat lying stratigraphy. In particular the favourable stratigraphy is expected to be closest to the surface or sub-outcropping along the western margin of the Upper Cretaceous sediments where they are often obscured by shallow alluvium or laterite.
Upon grant of the tenements and any necessary permitting or land access agreements, Image plans to carry out a programme of scout drilling within the prospective parts of its tenements to assess the potential for shallow, large tonnage phosphate sands amenable to upgrading to a commercial product. This drilling will proceed together with Image's ongoing heavy minerals exploration programme which is designed to augment its recently announced initial heavy mineral resources.
For more information on the company visit www.imageres.com.au
Note:
The information in this report that relates to exploration results is based on information compiled by Roger Thomson BSc, ARSM, MAusIMM, who is a Member of the Australian Institute of Geoscientists. Roger Thomson is an employee of Image Resources NL. Roger Thomson 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 of Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Roger Thomson 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.
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