Yep, you can do that. Add a Card object, then open its Default Shader that will be connected to its Shader input by default. Load your main image in Colour Image, then load your alpha/opacity map on the Opacity tab to get transparency. Finally, resize, position, and orient your card to cast the shadow the correct direction and you're done.
Attached is a very simple proof of concept using some random images on my HD and a small card. You'd need to resize and reposition the card to get the effect you want.
- Oshyan