LATEST NEWS

 

9 May 2012 Fast Track Presentation   May 2012

May 2012 The Pick

30 April 2012 Quarterly Activities and Cash Flow Reports - For the Quarter Ended on 31 March 2012

20 April 2012 Proactive Investors Research Report

18 April 2012 Red Gully Resource Confirmed

12 December 2011 Presentation of Projects April 2012

10 April 2012 Boonanarring Fast Track

23 March 2012 Boardroom Radio - Image Acquires 100% of Boonanarring

22 March 2012 Image Acquires 100% of Zircon-Rich Boonanarring Extensions in WA

16 March 2012 Half-Year Financial Report for the period ending 31 Dec 2011

9 March 2012 $1.88M Capital Raising to Accelerate Feasibility Study and Resource Expansion

28 February 2012 North Perth Basin Feasibility Study Manager Appointed

27 February 2012 Erayinia JV Encouragement

1 February 2012 Paydirt February 2012

31 January 2012 Quarterly Activities and Cash Flow Reports - For the Quarter Ended on 31 December 2011

17 January 2012 Atlas Mining Lease Application

11 January 2012 Atlas South Drilling Imminent

28 December 2011 Appendix 3Y - G Sakalidis, R Thomson, P Thomas

28 December 2011 Appendix 3B - New issue announcement

19 December 2011 Product Price Increases Improves North Perth Basin Return

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Image Resources is a diversified mineral explorer with a major landholding and an expanding mineral sands resource base in the North Perth Basin of Western Australia as well as major mineral sands projects in the Eucla Basin.

Figure 1: Image Resources NL’s projects in Western Australia

In the last few years there has been extensive exploration for heavy mineral sands deposits in WA, particularly for those rich in zircon. The main focus for Image Resources has been in the Cooljarloo area in the mid-west coastal plain of the Perth Basin (Fig. 1) with deposits such as Atlas and the Hyperion deposit at Cooljarloo North being extremely prospective. Other areas of interest include the Gingin prospect, as well as mineral sands targets around Bidaminna and Bootine. The newly discovered zircon-rich Cyclone and Cyclone Extended mineral sand deposits are contained within the Wanna Lakes in the Eucla Basin, close to the border with South Australia.

The titanium mineral sands industry (heavy mineral sands) is the most important sector of the industrial minerals suite in Western Australia, and includes ilmenite, synthetic rutile (upgraded ilmenite), leucoxene and rutile, together with zircon and staurolite mineral sands.

Titanium minerals

Ilmenite, leucoxene and rutile are oxides of titanium and used primarily as a feedstock for the TiO₂ pigment industry, and are the source for titanium metal. Titanium pigments are used in a wide range of products such as paints and sunscreens to plastics, paper, textiles and food. The high strength combined with its lightness makes titanium metal ideal for engineering, particularly in the aerospace industry, as well as in jewellery. About 10 Mt is consumed globally per annum. Ilmenite attracts a price of about US$100/tonne, leucoxene about US$450/tonne and rutile about US$650/tone. Synthetic rutile, a downstream product of ilmenite, attracts about US$500/tone. Ilmenite typically comprises 40–80% of a heavy mineral suite, leucoxene 5–30% and rutile 2–15%.

Zircon

Zircon or zirconium silicate (ZrSiO₄) is used in the production of ceramics, as a refractory, in foundry applications and specialised glass. It is also the source for zirconia (zirconium dioxide, ZrO₂), which is used in many high-end industrial applications. Zirconium metal has a high melting point and is chemically resistant which makes it ideal for use in specialized metal alloys and nuclear fuel roads. About 1.3 Mt is consumed globally per annum and it attracts a price of about US$1000/tonne, up from US$850 a year ago. Zircon typically comprises 5–15% of a heavy mineral suite. The Eucla Basin projects contain 25–50% zircon in the heavy minerals.

As well as the mineral sands projects, Image retains interests in a diverse package of gold and nickel tenements through joint ventures with Emu Nickel NL, Meteoric Resources NL, Magnetic Resources NL, Catalpa Resources Ltd and Sipa Resources Ltd.

Last updated: 9 May 2012