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Image Resources NL
Summary
| Project: | Boonanarring | |
|---|---|---|
| Deposit: | Boonanarring | |
| Location: | Australia | |
| Commodities: | Zircon-Rutile-Leucoxene-Ilmenite | |
| Date: | 4/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 10-4-2017: Image Resources NL announces a Resource Estimation report for its Boonanarring deposit at the Boonanarring project. Updated ore reserves for Boonanarring project increases ore tonnes by 39%. Image Resources NL (ASX: IMA) (“Image” or “the Compan | |
| Resources: | (Reserve, P+P): 20Mt @ 7.2% THM at project (2.0% HM cut-off) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Image Resources NL (ASX: IMA) (“Image” or “the Company”) is pleased to announce a 39% increase in the total tonnes of ore reserves for its 100%-owned Boonanarring Minerals Sand Project located 120 km north of Perth in the North Perth Basin. This increase in ore reserves follows on from the Company’s ASX announcement of 13 March 2017 of outstanding drill results confirming the potential of a 5.6km high-grade extension of the Boonanarring deposit to the north. 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 estimated Ore Reserves for the Boonanarring Project in accordance with the guidelines for the reporting of Mineral Resources and Ore Reserves the JORC Code (2012). When compared to the estimated Ore Reserves for Boonanarring prepared for Image for its 2013 feasibility study, the total tonnes of Ore Reserves have increased by 39% from 14.4 million to 20.0 million tonnes or by 24% to 17.8 million tonnes based on the strandline mineralisation only, albeit at a lower HM grade and mineral assemblage as detailed below. In addition, up to two years of production is now in the Proved category. The Company also completed additional in-fill drilling in March which will be used to provide a further update to the Ore Reserves in the coming weeks and is expected to push additional tonnes into the Proved category. | |
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