Image Resources Grows Durack Mineral Sands Resource 43% Ahead of 2026 Economic Study
Key Takeaways
- Image Resources' Durack mineral resource has grown 43% to 37.7 million tonnes at 1.2% total heavy mineral cut-off grade, up from 26.3 million tonnes in the 2018 estimate.
- 95% of the updated resource now sits in the two highest JORC confidence categories — Measured and Indicated — with 32.0 million tonnes classified as Measured, a category that had zero tonnes in 2018.
- Zircon content of the heavy mineral assemblage has increased 21% from 14% to 17%, a meaningful uplift given zircon's premium pricing relative to other mineral sands products.
- Metallurgical testwork on an 8.9-tonne bulk sample confirmed HMC product grade of 91.7%, HM recovery of 84.6%, and near-perfect zircon recovery of 99.8% — all exceeding the project's stated commercial thresholds.
- A comprehensive economic evaluation is expected later in 2026, directly informed by this upgraded resource and confirmed metallurgical performance.
Durack resource upgraded 43% as Image Resources advances mineral sands project toward economic evaluation
Image Resources NL (ASX: IMA) has released an updated JORC 2012-compliant Mineral Resource Estimate (MRE) for its 100%-owned Durack mineral sands project, located in the North Perth Basin of Western Australia.
The headline result is a 43% increase in total Mineral Resources to 37.7 million tonnes at a 1.2% total heavy mineral (HM) cut-off grade, up from 26.3 million tonnes in the 2018 estimate. This is not speculative tonnage: 95% of the resource is now classified as Measured or Indicated, representing a significant uplift in geological confidence. A comprehensive economic evaluation is expected later in 2026, making this resource upgrade a direct precursor to that assessment.
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Resource update by the numbers
The table below compares the 2018 MRE (prepared by Optiro Pty Ltd, now Snowden Optiro, on behalf of Sheffield Resources) with the updated 2026 MRE prepared by Snowden Optiro for Image Resources.
| Category | Estimate | Tonnes (Mt) | Total HM Grade (%) | In-Situ HM (Mt) | Zircon (% of HM) |
|---|---|---|---|---|---|
| Measured | 2026 MRE | 32.0 | 2.3 | 0.74 | 17 |
| Indicated | 2026 MRE | 3.9 | 1.7 | 0.06 | 17 |
| Inferred | 2026 MRE | 1.8 | 1.6 | 0.03 | 19 |
| Total (2026) | 2026 MRE | 37.7 | 2.2 | 0.83 | 17 |
| Indicated | 2018 MRE | 20.7 | 2.9 | 0.600 | 14 |
| Inferred | 2018 MRE | 5.6 | 2.6 | 0.148 | 14 |
| Total (2018) | 2018 MRE | 26.3 | 2.8 | 0.748 | 14 |
The key movements between the two estimates are:
- Total tonnes: 26.3 Mt (2018) → 37.7 Mt (2026), a +43% increase
- Total contained HM: 0.748 Mt → 0.83 Mt, a +11% increase
- Zircon content of HM assemblage: 14% → 17%, a +21% increase
- Classification: the 2018 MRE had zero Measured resource; the 2026 MRE delivers 32.0 Mt at 2.3% HM in the JORC Measured category
- Cut-off grade: reduced from 1.4% to 1.2% total HM, reflecting improved economic confidence
This upgrade was driven by 447 infill drillholes (6,170 m) completed by Image since acquiring the project, along with 25 mineral assemblage composites from 1,610 m of drill samples analysed by QEMSCAN (Quantitative Evaluation of Minerals by Scanning Electron Microscopy — a method that identifies and quantifies mineral species within a sample using automated scanning electron microscopy).
What is a JORC Mineral Resource, and why does classification matter?
A JORC 2012 Mineral Resource Estimate is a standardised, independent assessment of the quantity and quality of mineralisation in the ground. It is prepared in accordance with the Australasian Code for Reporting of Mineral Resources and Ore Reserves, which sets the rules for how resources can be classified and reported to the market.
There are three confidence tiers:
- Inferred — early-stage, lower confidence. Geological continuity is assumed rather than proven, based on limited drilling.
- Indicated — moderate confidence. Sufficient drilling density exists to assume continuity of grade and geology between sample points.
- Measured — highest confidence. Dense drilling, good geological and grade continuity. This is the category closest to a formal Ore Reserve.
The distinction matters to investors because a higher proportion of Measured and Indicated resource reduces technical risk. It is also a prerequisite for progressing to a formal Ore Reserve and feasibility study.
The shift of 95% of Durack’s resource into the Measured and Indicated categories is a material de-risking event. Where the 2018 estimate contained no Measured resource at all, the 2026 estimate places 32.0 Mt in the Measured category alone, reflecting the density and quality of Image’s infill drilling programme.
Metallurgical test results confirm the ore works
Resource tonnage tells you what is in the ground. Metallurgical testwork tells you whether it can actually be processed into a saleable product. Image has now confirmed that it can at Durack.
In December 2025, a representative bulk metallurgical sample of approximately 8.9 tonnes was collected and processed by Mineral Technologies at their Carrara facilities in Queensland. Processing used conventional, commercially available equipment: a scrubber, hydrocyclone, gravity separation spirals, and an up-current classifier (UCC).
The key results from the testwork were:
- HMC product grade: 91.7% HM (above the +90% HM saleable grade threshold)
- HM recovery: 84.6% (above the +80% HM recovery threshold cited in the announcement)
- ZrO₂ recovery: 99.8% (exceeds the +95% ZrO₂ threshold)
- TiO₂ recovery: 95.3% (exceeds the +80% TiO₂ threshold)
- Potential to upgrade HMC further to +96% HM via the UCC circuit if required
For investors, this confirmation de-risks the path from resource to production. A zircon recovery rate of nearly 100% is particularly significant given the 21% uplift in zircon content of the HM assemblage confirmed in the updated resource.
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Path to production: what comes next for Durack
The Durack deposit has physical characteristics that suit low-cost, bulk-scale mining. The deposit is approximately 5 km long and up to 1.5 km wide, with mineralisation occurring from surface to depths of up to 15 m. Average overburden is just 0.7 m, and average mineralised thickness is 5.8 m. The potential mining method identified is excavator feeding a mobile in-pit feed unit, described in the announcement as non-selective bulk mining.
Durack shares geological and metallurgical characteristics with Image’s Yandanooka deposit located approximately 24 km to the north. This proximity supports potential infrastructure and operational synergies as the project advances.
On the tenure front, Image has already applied for Mining Lease M70/1456 over the northern part of the Durack deposit and intends to apply for a mining lease over the southern part prior to the expiry of Exploration Licence E70/3762 in May 2027.
The confirmed near-term catalyst is the comprehensive economic evaluation expected later in 2026, which the upgraded MRE will directly inform. With 95% of the resource now in the two highest-confidence JORC categories and metallurgical viability confirmed, Durack is a materially better-defined project than it was under the 2018 estimate.
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