- Image Resources (IMA) provides an update to the mineral resource estimate (MRE) of its recently purchased McCalls minerals sands project east of Gingin in WA
- Earlier this year, the company completed the purchase of the McCalls mineral sands project from Sheffield Resources
- Total mineral resource for the McCalls project is 5.8 billion tonnes at 1.4 per cent total heavy minerals containing 84 million tonnes of heavy minerals
- The upgrade has effectively increased the company’s total of contained heavy minerals by over six fold, from 17 million tonnes to 101 million tonnes
- Image Resources is up 2.5 per cent and trading at 20.5 cents per share at 12:25 pm AEST
Image Resources (IMA) has provided an update to the mineral resource estimate (MRE) of its recently purchased McCalls minerals sands project east of Gingin in WA.
Earlier this year, the company completed the purchased of the McCalls mineral sands project from Sheffield Resources.
As soon as the purchase was complete, the first mission for Image was to verify and report mineral resources, which it is now reporting.
The total mineral resource for the McCalls project is 5.8 billion tonnes at 1.4 per cent total heavy minerals containing 84 million tonnes of heavy minerals.
Other positive attributes of the mineral resources include 90 per cent valuable heavy
minerals in the mineral assemblage, a combined total of 7.1 per cent zircon plus rutile and 82.5 per cent ilmenite plus leucoxene in the total heavy minerals averaging 63 per cent titanium dioxide.
These additional mineral resources have effectively increased the company’s contained heavy minerals total by over six fold, from 17 million tonnes to 101 million tonnes.
“While the overall grades are low, the thickness, areal extent, continuous nature and low
stripping ratios of both the McCalls and Mindarra Springs deposits are such that non-selective bulk mining methods can be considered,” the company.
“Potential mining methods include dry mining using dozer traps as well as potential (due to higher slimes content) for hydraulic mining methods using water cannons and slurry sumps.”
Image Resources was up 2.5 per cent and trading at 20.5 cents per share at 12:25 pm AEST.