Company
ASX:TSL
Titanium Sands Limited, through its local partners Orion Minerals (Private) Limited, Sanur Minerals (pvt) Ltd and Kilsythe Investments (Private) Limited are developing a high grade, high value and easily mineable heavy mineral sands project at Mannar Island, Sri Lanka. The Mannar island project has been highlighted in a recent scoping study as being a significant mineral sand asset with 345Mt @ 5.02% identified with a NPV of $545m.
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Rare earths & specialist minerals
The company’s operation in the CY2020 was impacted heavily with COVID-19 restrictions and issues, however, it achieved some milestones and formed a solid base on which to work from in 2021 and beyond once the restrictions are lifted.
Rare earths & specialist minerals
Whilst the year was impacted heavily with COVID-19 restrictions and issues, it achieved some milestones in its growth and formed a solid base on which to work from in 2021 and beyond once COVID-19 restrictions are lifted.
Rare earths & specialist minerals
More detailed scoping study results are expected to be released to the market once a resource upgrade is finalised.
Rare earths & specialist minerals
The company has provided responses to incorrect media reporting regarding its Mannar Island heavy mineral sands project.
Rare earths & specialist minerals
The Mannar Island Project is on a 26-kilometre long by 5-kilometre wide sand island joined to the Sri Lankan mainland by a road and rail causeway.
Rare earths & specialist minerals
The project is on a 26-kilometre long by 5-kilometre wide sand island joined to the Sri Lankan mainland by a road and rail causeway.
Rare earths & specialist minerals
The new resource of 264.93 million tonnes at 4.38% THM “makes a very long-life large-tonnage dredge mining operation a serious consideration”.
Rare earths & specialist minerals
The update will include deeper reverse circulation aircore drilling results with some aspects of the work having been delayed by COVID-19 interruptions to laboratory operations.
Rare earths & specialist minerals
The company’s drilling team and geologist in Sri Lanka are ready to begin a 500-hole RC aircore resource extension drilling program when local COVID-19 workplace restrictions are lifted.
Work on the scoping study is well advanced and can be completed quickly after receiving the upgraded resource estimate.
Rare earths & specialist minerals
The company expects another mineral resource update and completion of the scoping study in the coming months.
Rare earths & specialist minerals
An upgraded mineral resource estimate will be finalised once the mineralogical studies underway have been completed.
Rare earths & specialist minerals
Assays from another 243 drill holes show that under at least 18 square kilometres of the shallow Domain-1 resource area, THM concentrations of 2 to 6% consistently occur down to at least 10-11 metres below surface.
Rare earths & specialist minerals
The Mannar Island project has power, road and rail infrastructure, is backed by a government supportive of foreign investment and is ideally situated for product export to Asian markets.
Rare earths & specialist minerals
Notably, 66% of the total resource is now in the higher definition indicated JORC resource category.
Rare earths & specialist minerals
Bright Angel holds a 38 square kilometre tenure package on Mannar Island in Sri Lanka which hosts a heavy mineral sands JORC resource.
A drilling program has been completed on time and on budget and samples have been prepared to be sent to the laboratory in South Africa.
If the acquisition goes through, the company will have increased its heavy mineral sands resources eight times over in a year.
Results from the first stage of depth and lateral extension drilling have been very positive.
Upon shareholder approval of the acquisition, Mannar Island Project will have a combined high-grade inferred resource of 85 million tonnes at 6.96% total heavy minerals.
The resource is exposed at surface with no overburden and extends continuously for a strike of 8 kilometres with an average width of 2 kilometres.
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.
The company confirmed continuity of mineralisation at the Sri Lankan project and flagged possible zones of extension.
Acquisition tenure resource report anticipated in the coming weeks.
An initial mineral products quality review has indicated a wide range of potential markets for heavy mineral sand (HMS) products.
Following the acquisition, Titanium Sands’ tenure at the Mannar Island Project will expand to 204 square kilometres.
The company hopes to complete a scoping study for the Mannar Heavy Mineral Sands Project by the June quarter of 2020.
The study is expected in the June half of 2020 and will be based on another resource update.
TSL reflects on a busy March quarter that featured a material resource upgrade at its heavy mineral sands project.
Results and details of analyses will be released in June 2019.
