Highlights:
- 5.8 billion tonnes total Mineral Resources at 1.4% total heavy minerals
o 1.6 billion tonnes (28%) in JORC Indicated category
o Image's total Mineral Resources increased more than ten-fold to 6.4 billion tonnes
- 84 million tonnes contained total heavy minerals
o Image's total contained heavy minerals increase more than six-fold to 101 million tonnes
o Image's current production of heavy mineral concentrate is approximately 0.3 million tonnes per annum
- 90% valuable heavy minerals ("VHM") within mineral assemblage
- 7.1% zircon plus rutile and 82% ilmenite plus leucoxene in total heavy minerals averaging 63% TiO2
- Mineralisation located from surface in some places with low overall average strip ratio.
In
The first order of business with new ownership of the
Total Mineral Resources reported for the McCalls project, as presented in Table 1, is 5.8 billion tonnes at 1.4% total heavy minerals ("THM") containing 84 million tonnes of heavy minerals. Other positive attributes of the Mineral Resources include 90% valuable heavy minerals in the mineral assemblage, a combined total of 7.1% zircon plus rutile and 82.5% ilmenite plus leucoxene in the total heavy minerals averaging 63% TiO2.
Preliminary ilmenite characterisation studies by Sheffield's consultants produced concentrates containing between 59% and 66% TiO2, indicating potential suitability for chloride processing or as a feedstock for synthetic rutile production. The studies also demonstrated that mineralisation in the deposit has properties well suited to conventional mineral sands processing methods for the recovery of heavy minerals.
While the overall grades are low, the thickness, areal extent, continuous nature and low stripping ratios of both the McCalls and
These additional Mineral Resources have effectively increased the Company's contained heavy minerals in its total Mineral Resources by over six-fold, from 17 million tonnes (Table 2*) to 101 million tonnes.
The project is located in the infrastructure-rich
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/6TF5XMZX
About
Boonanarring is arguably one of the highest grade, zircon-rich mineral sands projects in
Contact:
Managing Director
+61 8 9485 2410
info@imageres.com.au
www.imageres.com.au
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