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Image Resources NL
Summary
| Project: | Boonanarring | |
|---|---|---|
| Deposit: | Boonanarring | |
| Location: | Australia | |
| Commodities: | Titanium-Leucoxene-Rutile-Zircon | |
| Date: | 3/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-3-2017: Image Resources NL announces an Exploration/Drilling Update report for its Boonanarring deposit at the Boonanarring project. Drilling results incl. 8m @ 23.84% HM from 27m. Image Resources NL (Image or the Company) (ASX: IMA) is pleased to anno | |
| Resources: | (Reserve, Prob.): 14.42Mt @ 8.3% HM for 1.19Mt HM contained at project | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | Image Resources NL (Image or the Company) (ASX: IMA) is pleased to announce that the results of a recent drill programme have confirmed a 5.6km extension of high-grade mineralisation associated with the Boonanarring mineral sands deposit. Boonanarring is arguably the highest grade, high-zircon undeveloped mineral sand deposit in Australia. In addition, the Company is in the final stages of completing a bankable feasibility study and is planning to develop the project with a goal of first production in early 2018. The indication of a significant extension of high-grade mineralisation for this deposit adds to the upside potential of the project. The Boonanarring deposit has estimated mineral resources of 43.8M tonnes at 5.6% heavy minerals (HM) with 18.1% of the HM as high value zircon and with 72% of the HM as valuable heavy minerals (VHM) (ASX release 13/01/2017). The area containing the current mineral resources at Boonanarring stretches 13.2km to the south on the east side of Brand highway. The new drilling results confirm the high-grade mineralisation extends to the north on the west side of the Brand highway for an additional 5.6km. The recent drill program was located within a road reserve on the Quinns Hill tenement (E70/3100). Ten drill holes for a total of 468m were completed in a programme designed to test the extension of the high-grade eastern strand of the Boonanarring mineral sand deposit, adjacent to and to the west of the Brand Highway. The design of the programme was based on an extrapolation of previous drilling by Image and limited historic drilling by Iluka. Assay results from this drilling programme are outstanding and clearly confirm the extension of the high-grade Boonanarring eastern strand northwards for 5.6km. | |
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