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Titanium Sands in trading halt ahead of a resource report

The company has entered into an agreement with Srinel Holdings Ltd to acquire a high-grade ilmenite-leucoxene project on Mannar Island in northwest Sri Lanka.

Titanium Sands Ltd - Titanium Sands in trading halt ahead of a resource report
Titanium Sands has five exploration licences on the Mannar Island project in Sri Lanka

Titanium Sands Ltd (ASX:TSL) is in a trading halt pending an announcement related to a resource report at the company’s proposed acquisition tenure on Mannar Island, Sri Lanka.

The trading halt will remain in place until Wednesday, September 18, or when an announcement is released to the market, whichever occurs earliest.

TSL's securities last traded at 2.2 cents after recently reaching a 12-month high of 2.5 cents.

High-grade THM returns

Last month the company returned 2-24% total heavy mineral (THM) sands from drilling efforts at its flagship Mannar Heavy Mineral Sands Project in Sri Lanka.

Titanium Sands 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.

The company said the drill holes indicated the potential for resource extensions in three separate zones.

Quick facts: Titanium Sands Ltd

Price: 0.02 AUD

ASX:TSL
Market: ASX
Market Cap: $12.71 m
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Full interview: Titanium Sands' James Searle updates on new land acquisition...

Titanium Sands Ltd's (ASX:TSL) managing director James Searle tells Proactive London's Andrew Scott they've completed the technical and corporate due diligence relating to the acquisition of a high-grade tenure adjacent to its Mannar Island Project in Sri Lanka. Searle also updates on the...

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