Announcement Date: 2022-12-19
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Image Resources NL
Project name: Atlas
Location: Australia
Commodities: Heavy Minerals
Highlight: Updated Reserve Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Image Resources NL (ASX: IMA) (“Image” or “the Company”) provides an updated Ore Reserve estimate at its 100%-owned, Atlas mineral sands project (Atlas Project) located in the infrastructurerich North Perth Basin in Western Australia. The northern section of the Mineral Resource is now excluded in this updated Ore Reserve estimate due to uncertainties of timing for environmental approval over the northern section of the deposit.This Ore Reserve estimate is based on a Mineral Resource estimate completed by Snowden Optiro as of December 2022 (refer to the Company’s ASX announcement dated 15 December 2022). This Ore Reserve update was prepared and reported by Entech Mining Consultants in accordance with the guidelines of the JORC Code (2012). The Ore Reserve estimate is shown in Table 1, and additional details are available in Schedule 1. The previous Ore Reserve estimate is shown in Table 2.
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