Mar. 1, 2011 - Image Resources NL has identified a potential 3.5 kilometre strike extension to the south of the Atlas project in the north west Perth Basin.
Atlas has a Measured and Indicated Resource of; 12.1 million tonnes at 7.4% heavy minerals, containing 0.9 million tonnes of heavy minerals.
This new discovery has the potential to boost the Atlas mineral sands resource, with Image already the largest mineral sand tenement holder in the North Perth Basin with over 1,600 square kilometres of wholly owned tenements, with a further 256 square kilometre footprint from joint ventures.
Almost 65% of the Ilmenite product looks likely to be of synthetic rutile feed quality based on metallurgical testwork of bulk samples which is handy given mineral sands prices are buoyant.
A global shortfall is driving the prices, with zircon predicted to reach $1200 per tonne by 2014 up from $850/t in 2009, with Rutile rising to $750/t from $550 and Ilmenite climbing to $190/t from $130/t.
Image's tenements are handily located to mineral separation plant and synthetic rutile plants including those owned by Iluka, BeMax and Tiwest in Western Australia.
With five synthetic rutile kilns within trucking distance of Image's Atlas resort, there would appear to be an attractive potential market for the Atlas ilmenite product.
In 2010, Image appointed Engenium Pty Ltd, management consultants and engineers, to assist in the commercialising of Image s heavy mineral assets in the North Perth Basin.
The extension was outlined by detailed ground magnetics and topographic data, with the target significant due to the southern 3 kilometre strike length holding a high grade above 10% heavy mineral core, with the new potential extension continuing south from this point.
A number of other sub parallel targets have been identified in the vicinity of this extension, including a 3.2 kilometre long stretch which is up to 250 metres wide.
Most importantly, both of the high priority targets remain open to the south. Ground magnetics are in progress to detail these areas.
All of these new targets are concentrated directly south of the Atlas deposit and augur well for the potential to significantly increase the tonnage of this deposit.
The company has now completed 47 mineral composites and is currently updating its estimates of zircon, rutile and ilmenite grades for the Atlas deposit and these should enhance the resource inventory.
Image also owns 8.6% of Meteoric Resources, 10.7% of Magnetic Resources and 2.9% of Emu Nickel.
Atlas has a Measured and Indicated Resource of; 12.1 million tonnes at 7.4% heavy minerals, containing 0.9 million tonnes of heavy minerals.
This new discovery has the potential to boost the Atlas mineral sands resource, with Image already the largest mineral sand tenement holder in the North Perth Basin with over 1,600 square kilometres of wholly owned tenements, with a further 256 square kilometre footprint from joint ventures.
Almost 65% of the Ilmenite product looks likely to be of synthetic rutile feed quality based on metallurgical testwork of bulk samples which is handy given mineral sands prices are buoyant.
A global shortfall is driving the prices, with zircon predicted to reach $1200 per tonne by 2014 up from $850/t in 2009, with Rutile rising to $750/t from $550 and Ilmenite climbing to $190/t from $130/t.
Image's tenements are handily located to mineral separation plant and synthetic rutile plants including those owned by Iluka, BeMax and Tiwest in Western Australia.
With five synthetic rutile kilns within trucking distance of Image's Atlas resort, there would appear to be an attractive potential market for the Atlas ilmenite product.
In 2010, Image appointed Engenium Pty Ltd, management consultants and engineers, to assist in the commercialising of Image s heavy mineral assets in the North Perth Basin.
The extension was outlined by detailed ground magnetics and topographic data, with the target significant due to the southern 3 kilometre strike length holding a high grade above 10% heavy mineral core, with the new potential extension continuing south from this point.
A number of other sub parallel targets have been identified in the vicinity of this extension, including a 3.2 kilometre long stretch which is up to 250 metres wide.
Most importantly, both of the high priority targets remain open to the south. Ground magnetics are in progress to detail these areas.
All of these new targets are concentrated directly south of the Atlas deposit and augur well for the potential to significantly increase the tonnage of this deposit.
The company has now completed 47 mineral composites and is currently updating its estimates of zircon, rutile and ilmenite grades for the Atlas deposit and these should enhance the resource inventory.
Image also owns 8.6% of Meteoric Resources, 10.7% of Magnetic Resources and 2.9% of Emu Nickel.
