Image Resources NL (ASX: IMA), an Australian mineral sands company primarily focused on the exploration, development, and production of heavy mineral concentrate products, announced a substantial update to the Mineral Resource Estimate (MRE) for its 100%-owned Durack project. The Perth-based company reported a 43% increase in total Mineral Resources, now standing at 37.7 million tonnes at a 1.2% total heavy mineral (HM) cut-off grade. This represents a notable improvement over its previous 2022 estimate, which used a 1.4% total HM cut-off grade, highlighting the project’s enhanced potential.
The updated MRE further indicates an 11% increase in total contained in-situ HM, reaching 0.83 million tonnes. A significant upgrade in resource confidence was also highlighted, with 95% of the total Mineral Resource now classified in the higher-confidence Measured and Indicated categories. This includes 32 million tonnes at 2.3% total HM in the JORC Measured category, 3.9 million tonnes at 1.7% total HM in the Indicated category, and 1.8 million tonnes at 1.6% total HM in the Inferred category.
Adding to the positive update, the company confirmed a 21% increase in the zircon content of the HM assemblage, rising from 14% to 17% of the total HM, following comprehensive QEMSCAN analysis. For the first time, monazite has also been incorporated into the updated MRE. The Durack project, situated in the North Perth Basin of Western Australia, was acquired by Image in 2022 as part of a mineral sands tenement package from Sheffield Resources Limited.
Since the acquisition, Image has completed extensive work, including 447 infill drillholes spanning 6,170 metres and 25 mineral assemblage composites, to advance the project towards potential production. This updated Mineral Resource Estimate will now form the basis for a comprehensive economic evaluation of the Durack project, with Image Resources anticipating results of this assessment later in 2026.
