Image Resources is beginning their feasibility study on the North Perth Basin Heavy Mineral Project in Western Australia. The company owns the property outright and hopes to begin production by 2014. This is supported by the Scoping Study completed in August 2011.
The property is likely to have an average production of 185 000 t/y of heavy minerals in concentrate and this would continue over the 12-year life of mine period. The mine is expected to yield total resources of 1.39-million tons of ilmenite, 85 000 tons of rutile and 193 000 tons of zircon, as well as 93 000 tons of leucoxene.
The Managing Director of Image Resources Mr George Sakalidis said that they had now achieved a critical mass for the resource base, which combined with solid grades and projected strong commodity prices, provides Image with the opportunity to become a substantial and highly profitable long-term heavy minerals producer.
Mr. Sakalidis added that the robust outcomes of the scoping study are an extremely positive sign for the company given the conservative estimates of commodity pricing and metallurgical recoveries. The project is seen to represent one of the biggest, yet to be developed, high grade Heavy Mineral resources in the country.
The Feasibility Study work will include infill drilling, Resource upgrades, recruitment of key personnel, metallurgical test work, geotechnical drilling and test work, ethnographic and environmental studies, detailed engineering design, detailed capital and operating cost estimates.
Source: Image Resources