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IMAGE RESOURCES NL Regulatory Filings 2007
65117_rns_2007-02-06_8f6a14cd-1c02-46b7-8321-cebc9c31a350.pdf
Regulatory Filings
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IMAGE RESOURCES NL
ASX Release 7 February 2007 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 HIGH-GRADE STRAND (UP TO 6m @ 41%HM and 2m @ 60% HM) DISCOVERED AT COOLJARLOO NORTH
A new high-grade shallow strand (Target 1 in ASX Release 24 October 2006) has been outlined by drilling over a 2km strike length within the SW part of the 100%-owned Cooljarloo North project (see attached map). Drilling is continuing and is expected to test the remaining 2.5km extent of the magnetic target in the near future. The highlights of the high-grade results, based on visual estimates, are:
| CN19 | 2m @ 15% heavy minerals (HM) from 8m | |
|---|---|---|
| CN31 | 6m @ 26.7% HM from 4m | |
| Including $2m (2) 40\%$ HM from 6m | ||
| CN38 | 2m @ 20% HM from 6m | |
| CN39 | 4m @ 22.5% HM from 4m | |
| CN40 | $4m \omega$ 40% HM from $4m$ | |
| CN50 | 2m @ 20%HM from 8m | |
| CN52 | 8m @ 22%HM from 2m | |
| Including $2m @ 60\%$ HM from 6m | ||
| CN60 | 6m @ 25%HM from 4m | |
| Including $4m @ 32.5\%$ HM from 6m | ||
| CN61 | 8m @ 13%HM from 2m | |
| Including $2m (25\% H M)$ from 8m | ||
| CN78 | 2m @ 10%HM from 8m | |
| CN79 | 6m @ 41%HM from 4m | |
| Including | $2m @ 60\%$ HM from 6m | |
| CN80 | 2m @ 25%HM from 6m | |
| CN108 | 4m @ 50%HM from 4m |
These grade estimates on average are higher than those previously encountered at Cooliarloo and Cooliarloo North. A recently completed detailed ground magnetic survey highlights the high-grade nature of the 4.5km strand, measuring an average amplitude of 8nT, which is significantly higher than the near-surface high-grade strands identified at Cooliarloo and the three remaining magnetic targets at Cooliarloo North. The current drilling will be sited on the highest amplitude northern 2.5km section of this strand where access agreements have recently been signed.
Targets 1, 2, 3 and 4 at Cooljarloo North (ASX release 24 October 2006) are planned to be drilled as part of an ongoing drilling campaign with an air core rig booked until mid March. As a result of Image's successful delineation of high-grade mineralisation using detailed ground magnetic surveys at the 35 AHD and 28000 resource strands at Cooliarloo, particular attention will be paid to high-grade areas identified by historical drilling and where the strongest ground magnetic amplitudes are evident. Other targets west of the high-grade Target 1 include an excellent thick intersection of 36m @ 2% HM which will be assessed in the light of the channel deposits discovered at Cooljarloo.
All the grades announced in this ASX release reflect visual estimates from panning in the field which give a good quide to the HM grade prior to receiving processing results from the laboratory. Hole CN79, where Image drilled 6m @ 41%HM, is only 35m north of a historical intersection of 4m @ 49.2%HM and is a similar result. These visual results are thought to be
of such significance that the company believes it is compelled, by force of the statutory continuous disclosure regime, to release then without waiting (as might normally be expected) for laboratory results.
| Hole No | Collar Coordinates | From | To | Interval | HM Grade | |
|---|---|---|---|---|---|---|
| Northing | Easting | m | m | m | % | |
| $\overline{CN5}$ | 6632400 | 329270 | $\overline{s}$ | $\overline{10}$ | $\overline{2}$ | 4 |
| C N6 | 6632400 | 329290 | $\overline{4}$ | $\overline{8}$ | $\overline{4}$ | $\overline{3.7}$ |
| CN19 | 6632200 | 329300 | 8 | 10 | $\overline{2}$ | 15 |
| CN 21 | 6632300 | 329325 | $\overline{2}$ | $\overline{8}$ | $\overline{6}$ | 2.1 |
| CN22 | 6632200 | 329350 | $\overline{4}$ | $\overline{6}$ | $\overline{2}$ | 3.3 |
| CN23 | 6632200 | 329375 | $\overline{12}$ | $\overline{14}$ | $\overline{2}$ | 4 |
| CN30 | 6132000 | 329365 | 4 | 8 | $\overline{4}$ | 3.6 |
| CN31 | 6632000 | 329385 | $\overline{4}$ | $\overline{10}$ | $\overline{6}$ | 26.7 |
| including | $\overline{6}$ | $\overline{8}$ | $\overline{2}$ | 40 | ||
| CN38 | 6631800 | 329430 | 6 | 8 | $\overline{2}$ | 20 |
| CN39 | 6631800 | 329450 | 4 | $\overline{8}$ | 4 | 22.5 |
| CN40 | 6631800 | 329470 | $\overline{4}$ | $\overline{8}$ | $\overline{4}$ | 40 |
| CN41 | 6631800 | 329490 | $\overline{2}$ | 4 | $\overline{2}$ | 5 |
| CN50 | 6631600 | 329505 | $\overline{\mathbf{8}}$ | 10 | $\overline{2}$ | $\overline{20}$ |
| CN52 | 6631600 | 329525 | $\overline{2}$ | $\overline{10}$ | $\overline{8}$ | $\overline{22}$ |
| including | $\overline{6}$ | $\overline{8}$ | $\overline{2}$ | 60 | ||
| CN53 | 6631600 | 329545 | $\overline{4}$ | 10 | $\overline{6}$ | 4.2 |
| CN 54 | 6631600 | 329575 | $\overline{0}$ | 4 | 4 | $\overline{2.5}$ |
| CN60 | 6631400 | 329575 | 4 | 10 | 6 | 25 |
| including | 6 | 10 | $\overline{4}$ | 32.5 | ||
| CN 61 | 6631400 | 329595 | $\overline{2}$ | 10 | $\overline{8}$ | $\overline{13}$ |
| including | $\overline{s}$ | $\overline{10}$ | $\overline{2}$ | 25 | ||
| CN71 | 6631200 | 329180 | $\overline{6}$ | 14 | $\overline{8}$ | 2.2 |
| CN75 | 6631200 | 329300 | 16 | 42 | $\overline{26}$ | 1.8 |
| CN78 | 6631200 | 329615 | 8 | 10 | $\overline{2}$ | 10 |
| CN79 | 6631200 | 329635 | 4 | 10 | 6 | 41 |
| including | $\overline{6}$ | 8 | $\overline{2}$ | 60 | ||
| CN80 | 6631200 | 329655 | $\overline{6}$ | $\overline{\overline{\overline{8}}}$ | $\overline{2}$ | $\overline{25}$ |
| CN96 | 6631000 | 329710 | $\overline{6}$ | 10 | $\overline{4}$ | $\overline{5}$ |
| CN97 | 6631000 | 329730 | $\overline{6}$ | $\overline{8}$ | $\overline{2}$ | $\overline{\overline{3}}$ |
| CN103 | 6630800 | 329405 | $\overline{12}$ | 48 | $\overline{36}$ | $\overline{2}$ |
| CN104 | 6630800 | 329435 | 20 | 42 | 22 | $\overline{2}$ |
| CN107 | 6630800 | 329750 | $\overline{2}$ | 10 | $\overline{8}$ | $\overline{2.1}$ |
| CN108 | 6630800 | 329770 | $\overline{4}$ | $\overline{8}$ | $\overline{4}$ | 50 |
| CN112 | 6630600 | 329430 | $\overline{2}$ | $\overline{8}$ | $\overline{6}$ | 3 |
| CN117 | 6630600 | 329795 | $\overline{6}$ | $\overline{8}$ | $\overline{2}$ | $\overline{5}$ |
| CN118 | 6630600 | 329815 | $\overline{2}$ | $\overline{8}$ | $\overline{6}$ | $\overline{2.4}$ |
| CN131 | 6630200 | 329840 | $\overline{\mathbf{8}}$ | 10 | $\overline{2}$ | $\overline{4}$ |
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.
COOLJARLOO NORTH PROJECT DRILL HOLE SUMMARY
Cooljarloo North Project