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Image Resources NL ( (AU:IMA) ) has provided an announcement.
Image Resources NL has received an independent desktop study from Entech assessing open pit potential with CIL processing for its 100%-owned Erayinia King gold project in Western Australia, which currently hosts an Inferred Mineral Resource of about 2.0 million tonnes at 2.1 grams per tonne gold for 139,000 ounces. Although the study is conceptual and not yet at scoping level, the results suggest most of the resource could be amenable to open cut mining, prompting Image to advance permitting, native title inquiries, water studies, and further technical evaluations.
On the back of the positive findings, the company will launch a follow-on drilling program of roughly 7,000 metres starting in the June quarter of 2026 to upgrade resources to the Indicated category, expand total resources, and test mineralisation at depth. The program, using about 60 reverse circulation and diamond core holes, will also generate metallurgical, geotechnical, and geological data needed for a future pre-feasibility study, underlining Image’s move to systematically de-risk and potentially progress Erayinia King toward development.
The most recent analyst rating on (AU:IMA) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Image Resources NL stock, see the AU:IMA Stock Forecast page.
More about Image Resources NL
Image Resources NL is an ASX-listed Australian resources company focused on mineral projects, with a portfolio that includes the 100%-owned Erayinia King gold project in the Eastern Goldfields Province, about 140km southeast of Kalgoorlie in Western Australia. The company is progressing this gold asset through early-stage technical studies and exploration to assess its potential for open pit development and CIL processing.
Average Trading Volume: 490,006
Technical Sentiment Signal: Sell
Current Market Cap: A$45.38M
Find detailed analytics on IMA stock on TipRanks’ Stock Analysis page.