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IMAGE RESOURCES NL Regulatory Filings 2006
65117_rns_2006-09-27_b41577b9-f9fa-4706-b725-e411cc0389c8.pdf
Regulatory Filings
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ASX Release 28 September 2006 ASX code: IMA
2nd Floor, 35 Outram St West Perth WA 6005 PO Box 644 West Perth WA 6872 Telephone 08 9485 2410 Facsimile 08 9485 2840 [email protected] www.imageres.com.au
ABN 57.063.977.579
SPECTACULAR 40m CHANNEL INTERSECTIONS AT COOLJARLOO
Spectacular thicknesses of heavy minerals (HM) have been intersected in a number of holes in Image's recent drilling at Cooliarloo in the North Perth Basin. These thick intersections are interpreted to occur in channels as described in Image's ASX release of 3 July 2006 where a large intersection of 30m @ 6.6% HM from 39m was reported on the eastern margin of the project. The recent drilling has been completed 2.5km to the NW of this intersection on four separate lines over a strike length of 850m (refer to attached map and sections) where some shallower, consistent, thick, spectacular intersections of similar channels have been made including:
| Hole 268 | 22m @ 6.1% HM from 18m |
|---|---|
| Hole 269 | 14m @ 5.3% HM from 18m |
| Hole 270 | 30m @ 4.6% HM from 18m |
| Hole 271 | 40m @ 4.4% HM from 18m |
| Hole 524 | 16m @ 4.0% HM from 16m |
| Hole 528 | 8m @ 4.6% HM from 16m |
| Hole 713 | 12m @ 3.8% HM from 18m |
| Hole 277 | 42m @ 2.8% HM from 16m |
| Hole 533 | 20m @ 3.9% HM from 16m |
Modal analysis of a composite sample from the northernmost section, near the boundary of the tenement, which includes an intercept of 40m @ 4.4% HM, indicates the valuable heavy mineral content of the HM to be a remarkable 85%, comprised of 68% ilmenite, 11% zircon, 3.3% rutile and 2.6% leucoxene. These channel sediments are unusual features and occur down to 40m below the base of the main strandlines. Thicknesses of up to 42m are two to three times greater than the thickness of the resource strands discovered by previous Image subsidiary Magnetic Minerals at Dongara, which are scheduled for mining in 2008. The Cooljarloo channels appear to have excellent physical dredging characteristics with a high proportion of free running sand, low slimes/clay content and little induration.
The channels exhibit a broad ground magnetic signature which is interpreted to extend some 10km in length and up to 400m in width. The southeastern part of the Cooljarloo tenement shows strong correlation between the magnetics and previously drilled mineralised channels and augers well for the current drilling campaign where 70 holes (3,500m) are being directed to drill test the magnetic trends associated with the recently identified channels.
The south-eastern part of the tenement is only 3km north of the world class Tiwest
Cooljarloo Mine which contains a dredge and dry mining operation which is mining
material around the 3% HM. This augers well for the econom unusually thick intersections released today and for the current drilling programme.
| Hole No | Collar Coordinates | From | Τo | Interval | HM Grade | |
|---|---|---|---|---|---|---|
| E | N | m | m | m | ℅ | |
| 267 | 30240 | 20945 | 20 | 34 | 14 | 3.2 |
| 268 | 30280 | 20945 | $\overline{18}$ | 40 | $\overline{22}$ | 6.1 |
| 269 | 30320 | 20945 | $\overline{18}$ | $\overline{32}$ | 14 | 5.3 |
| 270 | 30360 | 20945 | 18 | 48 | 30 | 4.6 |
| 271 | 40400 | 20945 | 18 | 58 | 40 | 4.4 |
| 272 | 40440 | 20945 | 16 | 20 | 4 | 5.1 |
| 273 | 40480 | 20945 | 16 | 20 | 4 | 4.1 |
| 274 | 40520 | 20845 | 16 | 20 | 4 | 3.9 |
| 275 | 40560 | 20945 | 16 | $\overline{20}$ | 4 | $\overline{3.1}$ |
| 276 | 40600 | 20945 | 16 | 20 | 4 | 3.6 |
| 277 | 40640 | 20945 | 16 | 58 | 42 | 2.8 |
| 517 | 39960 | 20620 | $\overline{14}$ | 18 | $\overline{4}$ | $\overline{3.7}$ |
| 519 | 40040 | 20620 | $\overline{14}$ | 18 | 4 | 4.2 |
| 708 | 40220 | 20620 | $\overline{12}$ | 14 | $\overline{2}$ | 3.5 |
| 524 | 40240 | 20620 | $\overline{12}$ | 28 | $\overline{16}$ | 4.0 |
| 709 | 40260 | 20620 | 16 | 34 | 18 | 3.4 |
| 527 | 40280 | 20650 | 20 | 28 | 8 | 4.6 |
| 526 | 40320 | 20620 | 16 | 18 | $\overline{2}$ | 3.1 |
| 532 | 40520 | 20660 | 16 | $\overline{20}$ | $\overline{4}$ | 3.5 |
| 533 | 40560 | 20660 | 24 | 34 | 10 | 5.5 |
| 535 | 40640 | 20645 | $\overline{32}$ | 36 | $\overline{2}$ | 3.3 |
| 717 | 40120 | 20449 | $\overline{16}$ | $\overline{20}$ | $\overline{4}$ | 3.8 |
| 716 | 40160 | 20461 | 16 | 20 | 4 | 4.0 |
| 715 | 40200 | 20472 | $\overline{14}$ | 18 | $\overline{4}$ | 3.5 |
| 713 | 40280 | 20490 | $\overline{18}$ | $\overline{30}$ | $\overline{12}$ | 3.8 |
| 712 | 40360 | 20512 | 16 | 18 | $\overline{2}$ | 3.6 |
| 554 | 40080 | 20076 | 16 | 18 | $\overline{2}$ | 3.7 |
| 556 | 40240 | 20121 | 16 | 20 | 4 | 3.8 |
| 540 | 40280 | 20120 | $\overline{16}$ | 18 | $\overline{2}$ | 3.5 |
| 541 | 40320 | 20119 | 16 | 18 | $\overline{2}$ | 4.2 |
| 542 | 40360 | 20118 | 16 | 18 | $\overline{2}$ | 4.3 |
| 548 | 40440 | 20116 | $\overline{16}$ | $\overline{18}$ | $\overline{2}$ | $\overline{3.2}$ |
| 546 | 40520 | 20114 | 16 | 18 | $\overline{2}$ | 3.3 |
| 547 | 40560 | 20113 | 16 | 18 | $\overline{2}$ | 3.4 |
COOLJARLOO DRILLING RESULTS
Cooljarloo Project - Ground Magnetic Interpreted Strandlines showing Strand 28000 Drill Lines and Channel Area Drill Lines
Coolijarloo Project - Channel Area - Stacked Sections
For more information on the company visit www.imageres.com.au
Please direct enquiries to: Roger Thomson Managing Director Phone (08) 9485 2410 Mob 0419 969 183
George Sakalidis Executive Director - Exploration Phone (08) 9485 2410 Mob 0411 640 337
The information in this report is based on information compiled by George Sakalidis BSc (Hons), who is a member of the Australasian Institute of Mining and Metallurgy. George Sakalidis is an employee of Image Resources NL. George Sakalidis has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. George Sakalidis consents to the inclusion of this information in the form and context in which it appears in this report.