Image Resources (ASX:IMA) updates resource estimates at McCalls – The Market Herald

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  • Image Resources (IMA) Provides an Updated Mineral Resource Estimate (MRE) for its Recently Purchased McCalls Mineral Sands Project East of Gingin, Washington
  • Earlier this year the company completed the purchase of the McCalls mineral sands project from Sheffield Resources
  • The total mineral resource for the McCalls project is 5.8 billion tonnes at 1.4% total heavy minerals containing 84 million tonnes of heavy minerals
  • The upgrade effectively increased the company’s total heavy ore content more than sixfold, from 17 million tonnes to 101 million tonnes.
  • Image Resources is up 2.5% and trading at 20.5 cents per share as of 12:25 a.m. AEST

Image Resources (IMA) has provided an updated Mineral Resource Estimate (MRE) for its recently purchased McCalls Mineral Sands Project east of Gingin, Washington.

Earlier this year, the company completed the purchase of the McCalls mineral sands project from Sheffield Resources.

As soon as the purchase was finalized, Image’s first mission was to verify and declare the mineral resources, which it does now.

The McCalls Project’s total mineral resource is 5.8 billion tonnes at 1.4% total heavy minerals containing 84 million tonnes of heavy minerals.

Other positive characteristics of mineral resources include 90% valuable heavy metals
minerals in the mineral assemblage, a combined total of 7.1% zircon plus rutile and 82.5% ilmenite plus leucoxene in total heavy minerals with an average of 63% titanium dioxide.

These additional mineral resources effectively increased the company’s total heavy mineral content more than sixfold, from 17 million tonnes to 101 million tonnes.

“Although the overall grades are low, the thickness, extent, continuous nature and low
stripping rates from the McCalls and Mindarra Springs deposits are such that non-selective bulk mining methods may be considered,” the company said.

“Potential mining methods include dry mining using bulldozer traps as well as the potential (due to higher sludge content) for hydraulic mining methods using water cannons and slurry sumps.”

Image Resources was up 2.5% and trading at 20.5 cents per share as of 12:25 a.m. AEST.

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