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Titanium Sands Ltd.
Summary
| Project: | Mannar Island | |
|---|---|---|
| Deposit: | Mannar Island | |
| Location: | Sri Lanka | |
| Commodities: | Heavy Minerals | |
| Date: | 6/16/2020 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-6-2020: Titanium Sands Ltd. announces a Scoping Study report for its Mannar Island deposit at the Mannar Island project. Scoping Study released for Mannar Island. The Scoping Study referred to in this announcement is a preliminary technical and economi | |
| Resources: | (Resources, I+I): 264.93Mt @ 4.38% THM | |
| CP/QP: | [Overall Report] James Searle (Internal) | |
| ABSTRACT: | The Scoping Study referred to in this announcement is a preliminary technical and economic investigation of the of the Mannar Island Heavy Mineral Sand Project. Under the JORC Code (2012), a scoping study is referred to as “an order of magnitude technical and economic study”. It is based on low accuracy technical and economic assessments, and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the Study will be realised. Notwithstanding many components of this study, such as plant design, this study does not present a production target. Mineral Resource Estimates referred to in this presentation have been previously reported in a JORC 2012 compliant form as indicated (32%) and inferred (68%) resources. There is a low level of geological confidence associated with inferred mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that the production target itself will be realised. The project scenario presented is based on the company’s current expectations of future results or events and should not be solely relied upon by investors when making investment decisions. Further evaluation work and appropriate studies are required to establish sufficient confidence to establish the technical, and commercial viability of the project. Development of the Mannar Island Heavy Mineral Sand Project will require funding. At this time it is not possible to predict the structure or source of funding. It is possible funding may only be available on terms that may be dilutive to or otherwise effect the value of TSL’sshares. | |
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