Image tables monster mineral sands resource

Image Resources has revealed a more than ten-fold increase in its total mineral sand stocks in an updated mineral resource estimate following its acquisition of the McCalls project near Gingin in WA. The company’s holding now stands at 6.4 billion tonnes after securing the asset in March in a deal worth $12 million.

McCalls boasts a 5.8 billion tonne mineral resource going 1.4 per cent total heavy minerals or “THM” with over 1.6 billion tonnes sitting in the JORC-compliant indicated category.

The project includes roughly 84 million tonnes of heavy minerals with 90 per cent valuable heavy minerals in its assemblage, a collective 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. The latter is potentially saleable as chloride grade ilmenite.

Following the announcement of its bumper new figures, the company says it is currently capable of punching out around 0.3 million tonnes of heavy mineral concentrate per annum, meaning it could soon bolster its numbers by year end.

McCalls is comprised of two separate deposits: McCalls and Mindarra Springs. Intriguingly, both resources sit in close proximity to the company’s Boonanarring project and have helped to boost the prospects of its mineral sands play.

In what will also bode well for the project’s prospect an ilmenite characterisation study by its previous owner Sheffield Resources Limited suggests the operation contained of up to 66 percent cent titanium dioxide, indicating its appropriateness for chloride processing or as a source for synthetic rutile production.

According to Image, despite the McCalls and Mindarra Springs deposits’ modest grades the thickness, continuous character and low stripping ratios could permit the zones to be mined using a lower-cost hydraulic approach.

Management says the new project's sheer size allows for the production of 500Mt subsets within its 5.8Bt resource, that will be part of a future feasibility assessment.

The subgroups would also be chosen to have greater heavy mineral grades and lower strip ratios.

Image is also exploring the possibility of assessing full mineral separation and the creation of a new synthetic rutile manufacturing facility employing cutting-edge robotic technology and green hydrogen.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au