Titanium Sands assays confirm THM depth resource potential at Sri Lankan project, shares up
Posted on March 6th, 2020

Jessica Cummins Courtesy Proactive Investors Australia

An upgraded mineral resource estimate will be finalised once the mineralogical studies underway have been completed.

Titanium Sands Ltd - Titanium Sands receives RC air core assays confirming depth resource potential at Mannar Island

Panning of samples from below the water table with the dark material being heavy minerals

Titanium Sands Ltd (ASX:TSL) has received all RC aircore assay results drilled in late 2019 at Mannar Island Heavy Minerals Sands Project in northwest Sri Lanka that confirm extensive depth resource potential.

All 473 holes indicate that the current shallow surface-exposed resource of 90.03 million tonnes at 6.60% total heavy minerals (THM) is underlain by large areas of deeper mineralisation.

While the results indicate the deeper mineralisation is likely, at least in part, to have lower grades than the shallow surface resource, it is laterally extensive and typically extends down to at least 5 to 12 metres below surface, under the surface resource.

Mineralogical analysis of the RC aircore samples is underway in preparation for a revised mineral resource estimate for the Mannar Island project.

Major depth potential”

Managing director James Searle said: The complete RC aircore results again demonstrate the major depth potential to substantially increase the previously reported surface-exposed mineralisation on the Mannar Island project.”

Shares have risen almost 7% today to 6.3 cents, a new 6-year high, and up from 3.1 cents on February 26.

The program was designed to test for below water table depth extension of the surface exposed mineral resource to a nominal depth of 12 metres.

Sampling of the RC aircore drill holes every metre was undertaken from surface down to a depth where water recovery with the sample was judged to potentially compromise the accuracy of the sample.

Location of the RC aircore drill holes

Potential to enhance resource

Typically, this occurred at depths of around 8 to 11 metres below surface, however, visual logging of material from the drill holes was carried from surface to the nominal 12 metres target depth.

Visual logging indicated that almost all holes contained significant concentrations of heavy minerals all the way to the target depth of 12 metres.

A further drill program utilising Sonic Core Drilling capable of sampling in water-prone materials is likely to provide accurate samples below the 8 to 11 metres achieved by the RC aircore drilling.

This could provide TSL with the potential to further enhance the resource.

Cross-section A-B showing RC drilling results beneath the existing mineral resource of Domain 1

Quick facts: Titanium Sands Ltd

Price: 0.062 AUDASX:TSL

Market: ASX
Market Cap: $30.21 m

30. Sep11. Nov9. Dec3. Feb2. Mar0. 6, 2019ToMar 6, 2020Highcharts.comMonday, Dec 16, 2019● Share price: 0.019● Volume: 52 631View company profile

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