North Perth Basin Large Scale Resources

Bidaminna (Image 90%)

The Bidaminna Deposit is located approximately 98km north of Perth and 21km east of Ledge Point on the WA coast (Figure 29). It was originally drilled by Geopeko in 1990 following up on work by earlier explorers. Image acquired tenements surrounding the deposit between 2008 and 2010, including the rights to 90% of the exploration licence covering the main part of the deposit (E70/3298).

The Bidaminna deposit was drilled by Geopeko along a 5.2km strike using air core drilling on 400m spaced lines and 40m hole spacing. This work defined a deposit between 100m and 200m wide and up to 38m thick, overlain by about 18m of barren overburden. The deposit is located in within the Guildford Formation in clean fine to medium grained sands. Below the Guildford Formation is a second mineralised horizon that is correlated with the Yoganup Formation. The Guildford Formation is covered by younger dunes of the Bassendean Sands, which cross-cut the deposit and increase overburden by up to 10m.

Overall the deposit was estimated by Geopeko to contain 44 million tonnes at 3.0%HM, as shown in Table 17. The HM contains 96% VHM, with 82.4% Ilmenite as detailed in Table 18. Image has reviewed this resource estimate and accepted it as being of sufficient quality to be classified as an Inferred Resource by JORC 2004 standards.

Table 17: Bidaminna Resource at 1.0% HM cut-off
Resource
Category
Volume
(cubic metre)
Tonnes

HM
(%)
Slimes
(%)
HM
(Tonnes)
Inferred 26,300,000 44,600,000 3.0 3.6 1,350,000
 
Table 18: Bidaminna Resource Mineralogy as % of HM (1% HM cut-off)
Resource
Category
HM
(Tonnes)
VHM
(%)
Ilmenite
(%)
Leucoxene
(%)
Rutile
(%)
Zircon
(%)
Inferred 1,350,000 96.0 82.4 7.2 1.0 5.4

 

Since acquiring the project area, Image has conducted a series of ground magnetic surveys over the tenements and has identified several large magnetic anomalies, including extensions of the Bidaminna deposit to both the north and south (see Figure 29). The southern extension trends right through the Moore River National Park and comes out on to the Bidaminna South Project 15km away. To the north, the target extends 2km to the Moore River and up to 4km north of the Moore River on Image’s tenements. There is also a large target immediately to the east of the Bidaminna deposit that may represent a new mineralised horizon.

In 2011 Image commenced exploration on the area north of the Bidaminna deposit with six drill lines completed. One hole in the southernmost line (BN018) was found to contain a 30m thick mineralised zone from 27m depth which averaged 7.7% HM (using a 1% HM cut-off) and includes a 3m intersection averaging 34.7% HM (Figures 30).

This grade is significantly higher than reported in the adjacent historical drillholes and was confirmed visually by a twinned hole and holes drilled 20 m either side across strike as shown on Figure 31. Drillhole BN030 has 8m at 9.2% HM and BN031 had 7.5m at 24% HM.

This unexpected high-grade intersection has encouraged Image to re-assess the prospectivity of the Bidaminna deposit and drilling has been scheduled for late 2013 or early 2014 to follow up the potential for a high-grade core to the deposit as well as to further investigate the other large targets in the area.

Image sees this deposit as an opportunity to increase production in the longer term and grow the business.

Bidaminna Deposit and Tenure webstie

Figure 29: Location of Bidaminna Deposit and Image Tenure

Figure 30: Bidaminna E70/2844 Drilling and Resources

Figure 31: Bidaminna E70/2844 Significant mineral intersections, Line 6560700

Cooljarloo (Image 100%)

The Cooljarloo Project is located approximately 170km north of Perth and its western border is 16km east of the town of Cervantes on the WA coast (Figure 32). The project adjoins the ground held by Tronox’s Cooljarloo heavy mineral sands mine and is situated on heavy mineral strandlines extending northwest from the mine. This area has yielded a total of 95 km of strandline targets (including the Atlas, Titan, Telesto, and Calypso) identified by ground magnetic surveys and follow-up aircore drilling. The Atlas deposit is now being treated as a separate project in its own right (see description in the North Perth Basin High Grade Resources section).

Figure 32: Cooljarloo target and resource areas

To the east of Atlas, Image has defined three large tonnage mineral sands deposits, which have been named Titan, Telesto and Calypso. Titan and Telesto are standard strand type deposits. Telesto consists of two sub-parallel strandlines separated by about 100m. The easternmost is the oldest, richest, widest and longest of the two. Both are very shallow, with overburden: ore ratios of less than one and frequently outcropping.

Titan was formerly named “Mid-Level”. The mineralisation of this deposit appears to have been formed during a regressive period. It lies within sediments widely interpreted to be of Mesozoic age. The mineralised zone averages 7m thick, 930m wide and is 8,200m long.

The Calypso deposit is interpreted to be of fluvial origin, it appears to be facies controlled and is hosted in Mesozoic sediments. The sediment hosting the mineralisation is typically a very clean fine to medium sand. It is bounded by clay rich sediment barren of heavy minerals. The sands are interpreted to be braided streams and the clays thought to represent quiet swamp environs. There are clay intercalations within the sands. The mineralisation as defined is typically 1600m long, 300m wide and between 15m to 40m thick and is covered by between 20m and 60m of unmineralised sands.

Titan and Calypso are both large tonnage, moderate grade deposits with high VHM contents (>80%) and moderate Zircon grades (9.5% to 10%), as shown in Tables 19 and 20. The Telesto deposit is a smaller tonnage higher grade deposit that has potential to provide a satellite feed to a large scale mining operation at Titan.

Table 19: Cooljarloo Project HM Resource at 1% HM cut-off
Project Area Resource
Category
Volume
(cubic metre)
Tonnes

HM
(%)
Slimes
(%)
HM
(Tonnes)
Titan Indicated 10,300,00 21,200,000 1.8 22.1 380,000
Titan Inferred 58,500,000 115,400,000 1.9 18.9 2,210,000
Titan Total 68,800,000 136,600,000 1.9 19.4 2,590,000
Telesto Indicated 1,700,000 3,500,000 3.8 18.4 130,000
Calypso Inferred 27,100,000 51,500,000 1.7 13.7 850,000
Sub Total Indicated 12,000,000 24,700,000 2.1 21.6 510,000
Sub Total Inferred 85,600,000 166,900,000 1.8 17.3 3,060,000
Cooljarloo Total   97,600,000 191,600,000 1.9 17.8 3,570,000

Table 20: Cooljarloo Project Resource Mineralogy as % of HM (1% HM cut-off)
Project Area Resource
Category
HM
(Tonnes)
VHM
(%)
Ilmenite
(%)
Leucoxene
(%)
Rutile
(%)
Zircon
(%)
Titan Indicated 380,000 84.4 71.9 2.0 1.0 9.5
Titan Inferred 2,210,000 84.3 71,8 2.0 1.0 9.5
Titan Total 2,590,000 84.4 71.9 2.0 1.0 9.5
Telesto Indicated 130,000 82.6 67.5 3.4 2.2 9.5
Calypso Inferred 850,000 84.6 68.8 3.5 1.6 10.6
Sub Total Indicated 510,000 86.1 72.5 2.4 1.6 9.6
Sub Total Inferred 3,060,000 84.6 71.1 2.5 1.2 9.8
Coolraloo Total   3,570,000 84.8 71.3 2.4 1.2 9.8