Titanium Sands updates on the Mannar Island Mineral Sands Project Drilling

On 2 April 2019, Titanium Sands Limited, a company engaged in the exploration of the mineral sand, shared an update regarding the Mannar Island Mineral Sands Project drilling.

The company has reported that the resource drilling further to the drilling used in the resource update was successful in reducing the nominal resource drilling pattern. It has gone down from 400 metres by 50 metres to 200 metres by 50 metres over 90% of the resource envelope.

There were 802 holes drilled with sample intervals of 0.5metres. These samples are being prepared in the Pesalai preparation facility of the company, and then it is sent to the mineral sands laboratory in Africa.

Sponsored ad by Kalkine

On 11 February 2019, the company provided an updated inferred mineral resource at the Mannar Island project in Sri Lanka. The inferred mineral resources contained valuable heavy mineral sand and had increased by 300% of the previous JORC resource at Mannar Island. The total inferred resource was 53.08 Mt at 6.7% of total heavy minerals (THM), and it also included the new high-grade zone of 9.85 Mt at 9.06% of total heavy minerals.

Now, the recent drilling has infilled previous resource drilling from 400m spaced lines to 200m spaced lines which will be contributing to the further resource update that is planned for the period July/August 2019.

The drilling also identified targeted areas that have potential resource extension.

Further drilling at the project site is under progress. The company has acquired an RC-aircore drilling rig, and after the modification, it will be sent to Sri Lanka to start further drilling to be held in June 2019.

Mannar Island mineral sands project is a project based in Sri Lanka and has heavy mineral sand concentrations along the modern sandy shorelines of Sri Lanka along the north-eastern and north western coast.

On 28 March 2019, the company provided a 12 months outlook on its Mannar Island mineral sands project. The announcement highlighted that the company had started the scoping study and it expects to be completed by early 2020. By the end of April 2019, the company believes that the initial phase of metallurgical test work for the scoping study will be completed. The company, in March 2019, has started the offtake partner discussions and is in progress. The company also highlighted that they would commence the mining options study in July 2019.

In the previous six months, the stock has generated a return of 5.56%. However, the YTD performance of the stock has been decent at 58.33%. By the closure of the trading period on 2 April 2019, the closing price of the shares of TSL was A$0.020, up by 5.263% as compared to its previous closing price. The company has a market capitalization of A$12.07 million and approximately 635.32 million outstanding shares.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Facebook Comments
Join Our Forum

We help you to connect with investors and people connected with the stock market.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here