Petratherm Limited (ASX: PTR) has announced a high-grade heavy mineral sand (HMS) discovery at its Muckanippie Project area in South Australia.
Reconnaissance mapping and surface sampling along with assaying of historic drill core stored at the south Australian government’s core library has identified previously unknown high-grade titanium mineralization spanning many square kilometres at two prospect sites, Rosewood and Claypan.
CEO Peter Reid commented, “The Muckanippie Suite is a rare and highly fertile layered intrusion, and this titanium discovery including high-grade, high value, titanium ores as heavy mineral sands has the potential to be transformational for the company.”
Compelling sample grades ranging from 10% to 50% TiO2 have been found at the two large prospect areas. 79% of samples retuned >10% TiO2, with 28% > 30% TiO2.
At the Rosewood Prospect, outcropping mineralization extends over 9km west to east, and wide spaced drilling confirms HMS extends at least 6km to the north.
Re-assaying of historical Rosewood drill intercepts include:
- CAR 39 – 20m @ 4.2% TiO2 from 4m, including 4m @ 9.1% TiO2 from 4m
- CAR 38 – 36m @ 4.0% TiO2 from 0m, including 6m @ 7.8% TiO2 from 8m
Initial metallurgical evaluation of titanium ores is underway and further results will be reported once they come to hand. The company will conduct heritage surveying starting in two weeks, to allow for more extensive ground exploration and drilling operations over the wider Muckanippie Project area.
To find out more, please visit www.petratherm.com.au
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