Atlas Development Project

The Atlas Project is located 90km north of Boonanarring. It is a shallow and high grade open pit mine. Mineralisation extends from surface to 16m depth and has an average thickness of 3.5m and a maximum thickness of 12m.

The project is expected to commence when Boonanarring is depleted, at which time key infrastructure, including the existing wet concentrate plant (WCP), will be relocated from Boonanarring to Atlas. Image will continue to produce a high quality heavy mineral concentrate (HMC) which will be exported to international markets through the port of Bunbury. Atlas is expected to have a mine life of at least 3 years with opportunities to extend this through further exploration.

The Image exploration team have identified several additional zones of strandline mineralisation to the east, west and north which will be delineated prior to production from the project.

The project has a resource of 18.1Mt at 6% heavy mineral with a mineral assemblage including 9.3% zircon, 46% ilmenite, 4% leucoxene and 6.5% rutile. The reserve is 9.5Mt at 8.1% heavy mineral with a mineral assemblage including 10.6% zircon, 51% ilmenite, 4.5% leucoxene and 7.5% rutile.