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Image Resources NL
Summary
| Project: | Atlas | |
|---|---|---|
| Deposit: | Atlas | |
| Location: | Australia | |
| Commodities: | Zircon-Rutile-Leucoxene-Ilmenite | |
| Date: | 5/8/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-5-2017: Image Resources NL announces a Resource Estimation report for its Atlas deposit at the Atlas project. 68% increase in mineral resources for Atlas project. Image Resources NL (ASX: IMA) (“Image” or “the Company”) is pleased to announce a substant | |
| Resources: | (Resource, Total): 18.1Mt @ 6.0% THM at Atlas (2.0% HM cut-off) | |
| CP/QP: | [Resources]: Christine Standing (Optiro Pty Ltd.) | |
| ABSTRACT: | Image Resources NL (ASX: IMA) (“Image” or “the Company”) is pleased to announce a substantial increase of the total tonnes of Mineral Resources for its 100%-owned Atlas Minerals Sand Project located 170 km north of Perth in the North Perth Basin. As part of the bankable feasibility study being conducted for the Company’s high-grade Boonanarring and Atlas mineral sand projects, Optiro Pty Ltd (Optiro) has completed an update of the Mineral Resource estimate for Atlas in accordance with the guidelines of the JORC Code (2012). When compared to the Mineral Resource estimate for Atlas prepared for Image in 2011, the total Mineral Resource tonnes have increased by 68%, from 10.8 million to 18.1 million tonnes, albeit at lower heavy mineral (HM) grade and mineral assemblage as detailed below. Total contained HM has increased by 30% to over 1 million tonnes, from previous 840,000 tonnes. Drilling during 2012, within the southern end of the deposit, has extended the strike length of the mineralisation within the main strandline from 5.5 km to 6.5 km and the overall strike length of the mineralisation within all of the strandlines from 7.3 km to 8.3 km. This has added approximately 1.2 million tonnes of Mineral Resources. In general, the additional mineralisation in this extension area within the main strandline (of 0.6 million tonnes) has significantly lower HM grade (5.6% total HM) and a lower overall mineral assemblage value (3.4% zircon) than the previously reported main strandline mineralisation. Although the expanded Mineral Resource estimate by Optiro is reported as substantially higher tonnes than the 2011 Mineral Resource estimate, it remains to be determined what quantity of these additional tonnes of mineralisation will translate to Ore Reserves. | |
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