Image Resources identifies potential Boonanaring augmentation
THE DRILL SERGEANT: Image Resources (ASX: IMA) has identified, what it considers to be, potential multiple extensions north of the company’s 10.5 kilometre strike length high-grade Boonanarring mineral sands Reserves.
The Boonanarring Reserves form part of Image’s North Perth Basin project (NPB project).
Image claims the current Boonanarring Reserves contain amongst the highest in ground value per tonne of mineral sands in the world at 8.3 per cent heavy minerals (HM), with 24.5 per cent of the HM consisting of zircon.
The company considers any potential strike or resource extensions at Boonanarring would therefore add economic value to the NPB project.
Image recently completed magnetic mapping between Boonanarring and its Red Gully project, from which it has identified magnetic features it suspects may host potential extensions to both the high-grade Boonanarring Eastern Strand and the medium-grade Western Strand.
“These new targets represent a real opportunity for Image which we are keen to test further,” Image Resources managing director Peter Davies said in the company’s announcement to the Australian securities Exchange.
“Should the targets…be later converted to JORC Resources, this may enable Image to further improve the already strong economics of the NPB project through a combination of longer mine life at Boonanarring, higher production rates or greater opportunity for optimised grade scheduling.
“The potential for the Boonanarring mineralisation to extend north to our Red Gully project is also something that we are continuing to test.”
Boonanarring Resource and Conceptual Extensions from Magnetic survey Interpretation. Source: Company announcement
Image has identified a total of three undrilled magnetic targets to the north and west of Boonanarring.
The company explained the newly-delineated targets have similar characteristics to those of the currently defined Boonanarring Resource, which it considers to augur well for a follow up drilling program it has scheduled for the first half of 2014.
Prior to finalising the next drill program, Image has some infill ground magnetic surveying planned to better define these new targets.
Email: admin@imageres.com.au
Website: www.imageres.com.au