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Titanium Sands Ltd.
Summary
| Project: | Mannar Island | |
|---|---|---|
| Deposit: | Mannar Island | |
| Location: | Sri Lanka | |
| Commodities: | Ilmenite-Leucoxene-Rutile-Zircon | |
| Date: | 2/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-2-2019: Titanium Sands Ltd. announces a Resource Estimation report for its Mannar Island deposit at the Mannar Island project. Updated mineral resource estimate at the project. 11 February 2019 – Perth, Australia: Titanium Sands Ltd (the “Company”, ASX | |
| Resources: | (Resource, Inf.): 53.08Mt @ 6.66% THM | |
| CP/QP: | [Resources]: Kobus Badenhorst, Bernhard Siebrits (GeoActiv Pty Ltd.;Independent) | |
| ABSTRACT: | 11 February 2019 – Perth, Australia: Titanium Sands Ltd (the “Company”, ASX: TSL) is pleased to announce an updated Inferred mineral resource at its Mannar Island Project in Sri Lanka of 53.08 million tonnes at 6.67% heavy minerals (Table 1) (Figure 1). The contained valuable heavy mineral resource has increased to nearly 300% of the previous resource statement reported to the ASX on 22 April 2015*. Correspondingly the resource tonnage has increased to 500% of the previously reported tonnage. The heavy mineral suite is dominated by ilmenite and leucoxene with minor but valuable rutile and zircon components. Contained within the resource are two higher grade zones, Domain 0 (10.33Mt @11.86%THM) and Domain 2 (9.85Mt @ 9.06%THM, Figure 2 and Table 1). Resource drilling to date has only been down to the water table which in the interior of Mannar Island occurs at a depth of 1 to 3m below the land surface. The heavy mineral sequences are exposed at surface and there is essentially no significant overburden on the resource. Acquisition of the Mannar Island Project by Titanium Sands Ltd was formally concluded and the Company re-instated to trading on the Australian Securities Exchange on 18th December 2018**following a $6 million fundraising. | |
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