Image Resources NL provided a Mineral Resources update on its 100%-owned Bidaminna mineral sands project (Bidaminna) in the North Perth Basin. Bidaminna Mineral Resources were most recently reported in March 2021 following a Mineral Resources estimate (MRE) carried out by Optiro Pty Ltd. (now Snowden Optiro) on behalf of Image. Since then, Image has undertaken additional drilling (comprising of 232 drillholes for a total of 12,916 m), composite sample analysis for the determination of mineral assemblage (33 additional composites) and visual heavy mineral (HM) sachet logging to identify potential laterite affected mineral.

The new information has been used by Snowden Optiro to update the MRE for the Bidaminna project. This 2023 MRE is based on data from 594 vertical reverse circulation (RC) drillholes, for a total of 31,233 m. A total of 18,096 samples have been assayed. The mineral assemblage is based on 33 composite samples of heavy mineral sachets taken from 94 drillholes (over a total of 2,090 m).

The 33 composite samples are all from 2022 drilling and supersede previous mineral assemblage data. The mineral assemblage composites were analysed by QEMSCAN using the following rules for titanium mineral determination (ilmenite - 45% to 70% TiO2, leucoxene - 70% to 95% TiO2 and rutile - > 95% TiO2) The MRE for Bidaminna has been reported above a 0.5% total HM cut-off grade. This cut-off grade was selected by Image based on technical and economic assessment, comparison with similar deposits and for consistency of reporting with Image's other deposits.

The other differences between the 2021 MRE and the 2023 MRE within the mineralised domains include: For the 2023 MRE, the breakpoints used for definition of the titania minerals are: ilmenite 45-70% TiO2; leucoxene 70-95% TiO2; rutile >95% TiO2. The mineral assemblage for the 2021 resource model was determined by QEMSCAN and grain counting methods and the QEMSCAN rules used for mineral determination were: ilmenite: 40 to 55% TiO2; leucoxene: 55 to 95% TiO2; rutile: >95% TiO2. The breakpoint of 40% TiO2 for the 2021 MRE was used to align the QEMSCAN data with the historical grain counting data.

The 2023 mineral assemblage data included monazite, and monazite has been included in the 2023 MRE. The Bidaminna project is located in the north of the Perth Basin approximately 120 km north of Perth. The project lies south of Orange Springs road in the shire of Gingin on crown land covered with banksia woodland.

The Bidaminna project is contained within Exploration Licences E70/3298 and E70/2844 which are both 100%-owned by Image.