IMAGE RESOURCES NL - Regulatory Filings 2011

2[nd] Floor, 16 Ord Street 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

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ASX Release 8 December 2011

ASX code: IMA

ABN 57 063 977 579

BOONANARRING NORTHERN EXTENSION SHAPES UP

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HIGHLIGHTS

Consistently high grade HM intersections, some zircon-rich, identified by first pass drilling 3.6km north of the existing resource, confirming the validity of the 7.7km magnetic target.
Best intersection of 15m at 9.9%HM from 24m at 2.5%HM cut-off, including 5m @ 19.7%HM (5%HM cut-off), with encouraging zircon enrichments in two holes.
Ongoing drilling to test extensions at Boonanarring South.

Image has completed first pass drilling on part of the northern magnetic extension to the Boonanarring deposit. 40m-spaced aircore holes were drilled on lines between 200m and 400m apart over a strike length of 1.8km, as shown on Figure 1. Laboratory processing results have now been completed for this drilling and Image is preparing samples for mineralogical analysis. Significant results are summarised in Table 1 and all intersections of 3m or greater thickness at a 2.5%HM cut-off are detailed in Table 2.

The HM results confirm that the magnetic target extending from the Boonanarring deposit situated 3.6km to the south into the area covered by the drill program contains significant mineralisation over widths ranging from 300m to 400m of a similar tenor to the Boonanarring deposit.

Image considers this mineralisation to be a possible extension of the high zircon areas found within the Boonanarring deposit where zircon values average 15% of the HM with concentrations up to 70% in some areas (see ASX Release 15 September 2011). Visual examination of HM concentrates from the recent drilling has identified zircon enrichments of between 5% and 40% of the HM associated with high grade mineralisation in drill holes GG773 and GG774, located 40m apart on the southernmost drill line. Analysis of these samples using a portable XRF analyser has supported the estimates of elevated zircon content. These preliminary results will be confirmed by QEMSCAN analysis as part of Image’s ongoing assessment of this deposit.

Drilling in this area is ongoing, with drilling of two lines immediately south of the zircon-enriched area to commence shortly. Completion of the drill pattern plus additional sample analysis is planned for mid December. The HM samples will then be composited and submitted for QEMSCAN analysis to determine overall mineralogy as well as to quantify the extent of zircon enrichment indicated by the preliminary examination.

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Table 1 Significant Intersections (5%HM cut-off)

Hole ID	Northing	Easting	From	To	Thickness	HM	Slimes
			(m)	(m)	(m)	(%)	(%)
GG773	6549533	386908	24.0	39.0	15.0	9.9	16.3
		Including	26.0	31.0	5.0	19.7	13.3
GG774	6549551	386942	29	30	9	17.2	29.3
GG816	6550438	386484	30.0	36.0	6.0	10.9	12.6
		Including	31.0	36.0	5.0	12.7	12.4
GG783	6549718	386824	25.0	34.0	9.0	7.2	6.4
		Including	25.0	33.0	8.0	7.8	6.9
GG815	6550423	386453	23.0	36.0	13.0	7.0	14.6
		Including	29.0	33.0	4.0	10.5	8.6
GG788	6549617	386611	23.0	30.0	7.0	6.3	9.9
		Including	26.0	30.0	4.0	8.9	7.8
GG772	6549518	386870	20.0	24.0	4.0	7.6	17.8
		Including	21.0	24.0	3.0	9.6	16.3
GG841	6550951	386156	23.0	27.0	4.0	7.3	19.0
		Including	23.0	26.0	3.0	9.0	18.2
GG787	6549630	386643	21.0	32.0	11.0	5.3	13.0
		Including	28.0	30.0	2.0	10.9	8.1
GG832	6550769	386242	21.0	26.0	5.0	5.7	19.5
		Including	22.0	25.0	3.0	8.2	18.1
GG802	6550079	386654	31.0	35.0	4.0	10.1	22.9
		Including	32.0	35.0	3.0	12.8	25.3

The recent drilling is located in the northern half of the interpreted 7.7km northern extension of the Boonanarring deposit and Image plans to test the remaining zones once access agreements are completed. The Boonanarring deposit is also open to the south (see ASX Release 15 September 2011) where planning is in progress for a drill program to test the extent of this mineralisation in January 2012. Based on trends identified in the Boonanarring deposit the interpreted southern extension is also considered to have potential for high zircon mineral assemblages.

Image is most encouraged by these results which indicate that Boonanarring could shape up as a significant additional high grade component of its North Perth Basin feasibility study.

For more information on the company visit www.imageres.com.au

Please direct enquiries to:
George Sakalidis	Roger Thomson
Managing Director	Executive Director
Phone (08) 9485 2410	Phone (08) 9485 2410
Mob 0411 640 337	Mob 0419 969 183

The information in this report is based on information compiled by Paul Leandri BAppSc who is a member of the Australasian Institute of Mining and Metallurgy. Paul Leandri is an employee of Image Resources NL. He 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’. Paul Leandri consents to the inclusion of this information in the form and context in which it appears in this report.

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