Image Sourced ShutterStock
Market Herald logo


Be the first with the news that moves the market
  • Image Resources has uncovered ultra-high-grade Zircon north of Perth
  • 70 per cent grade zircon was shown, compared to historical peaks of only 30 per cent
  • The company has already mined and stockpiled 500 tonnes, expecting more in the coming weeks

Image Resources has announced discovery of ultra-high-grade Zircon near Perth. Early sampling results reveals 70 per cent zircon grades and 95 per cent heavy mineral grades.

A 1-6m wide by 1-3m thick zone of ore extending roughly 60m is currently being mined. The company is celebrating the discovery, in comparison to previously produced zircon grades at a much lower 30 per cent.

The results come from the company’s wholly owned Boonanarring project 80km north of Perth. Already 500 tonnes of ore have been mined and stockpiled. Further tonnage is expected in coming weeks.

Managing Director Patrick Mutz says the high-quality results follow an already consistent mining season on site.

“[W,e have been] ramping up to full-scale production in only the second month of operation,”

“The next step is to determine the extent of this type of ultra-high-grade ore along strike, and its connection to the potential high-grade Core currently being delineated,” said Mutz.

Image Resources is currently conducting further drilling on the announced discovery, expecting an increase in their ore reserve.

Production on the Boonanarring site has been ongoing since December 2018 and exceeding all expectations. In March, the company produced 68,700 tonnes of heavy mineral concentrates for an average grade of 11.1 per cent.

These results were 67 per cent higher in expected tonnage and 76 per cent higher in grade.

The company sold 47,900 tonnes of the March minerals to reap $24.8 million at an operating cost of $15.4 million.

The company climbed 8.11 per cent in the market today as a result of today’s announcement. Shares opened this morning at 19 cents each before increasing to 20 cents a piece.

IMA by the numbers
More From The Market Herald

" Eden Innovation (ASX:EDE) completes US secured debt restructure

Eden Innovation (ASX:EDE) has completed refinancing of the two existing secured loans in the US.
The Market Herald Video

" Vysarn (ASX:VYS) to buy Project Engineering for $2.6m

Water service provider Vysarn (ASX:VYS) enters an agreement to buy engineering services business, Project Engineering, for…
The Market Herald Video

" Clean TeQ (ASX:CNQ) secures option to acquire rapid dewatering technology

Clean TeQ Water (ASX:CNQ) has secured the option to acquire rapid dewatering technology to solve mining…
The Market Herald Video

" Clean TeQ Water (ASX:CNQ) posts 60pc cash receipts increase in Q4 2022

Clean TeQ Water (ASX:CNQ) has posted $2.5 million in cash receipts for the June quarter, up…