Titanium Sands Ltd (ASX:TSL) has returned 2-24% total heavy mineral (THM) sands from drilling efforts at its flagship Mannar Heavy Mineral Sands Project in Sri Lanka.
The explorer hopes to achieve early production revenues at the 166 square kilometre Mannar Island project in northwest Sri Lanka.
Of 357 drill holes analysed, 330 holes, or 92%, have so far returned 2-24% THM gradings with 35%, or 126 holes, outside the defined resource.
A total of 802 holes were drilled and the drilling pattern was 200 metres by 50 metres, with 90% sited over the resource envelope.
Three possible zones of extension
Titanium Sands said: “These drill holes indicate the potential for resource extensions in three separate zones.
“All these mineralised intercepts are from surface and drilling was only down to the water table at 2-metre to 5-metre depth.”
Results are pending for a further 465 holes.
Scoping study efforts continue
Resource infill and extension drilling continue at Titanium Sands’ Mannar Island licences.
The company is hoping to update its resource estimate for the project in September 2019 as it prepares a scoping study flagged for the June 2020 half-year.
A resource update in February 2019 put resources at 53.08 million tonnes of inferred resources grading 6.67% total heavy minerals.
Titanium Sands debuted a new high-grade zone with the update, featuring 9.85 million tonnes at 9.06% total heavy minerals.
Acquisitions a priority
Titanium Sands is also hoping to expand Mannar resources with new tenements and is evaluating a proposed acquisition under an extended deadline.
The company has found a high-grade heavy mineral zone at the 38 square kilometre package extends over a strike length of at least 8 by 2 kilometres.
Titanium Sands views the ground as complementary to its existing tenure and has 30 days from this Monday to wrap up a due diligence investigation.
The company has five exploration licences at the project, all wholly-owned, which extend over Mannar Island and the adjoining coast.