Highlights

• There has been surging demand for titanium across various applications.
• Australasian Metals recently marked its presence in the titanium space with the acquisition of a new project in Queensland.
• Field investigation and surface rock chip sampling across May Queen South Bauxite Project has defined high grades of titanium dioxide.
• The project has a JORC 2012 Inferred Mineral Resource estimate of 54.9Mt at 37.5% Al₂O₃% and 5.2% TiO₂ and 7.9% Rx SiO₂%.
• The focus remains on drilling to increase the current resources and detailed metallurgical testing work to explore potential for dual bauxite and titanium concentrates.

Titanium is considered a "critical mineral", owing to its wide applications across the defence, aerospace, industrial, automotive, pharmaceutical, and energy space. The use of titanium is growing faster than ever before as this mineral has found a home in numerous industries ranging from power generation to chemical processing to desalination plants.

Titanium minerals are favoured for their lightweight, strength and corrosion resistance.  

Moreover, titanium dioxide (TiO₂) acts as a building block of the power sector based on renewable energy. Titanium dioxide is an integral constituent in the generation of renewables as well as in energy efficiency.

Considering its growing adoption, it is expected that the titanium market would register strong growth over the years. Moreover, there has been surging demand for TiO₂ from industrial users in China, Japan, and South Korea.

Amid this encouraging scenario, Australasian Metals Limited (ASX:A8G) has also begun to explore its interest in the world of titanium.

The ASX-listed metals explorer known to mark new discoveries with advanced exploration projects has added the May Queen South Bauxite Project (EL 16260 and EPM 16261) in its portfolio of projects. In May 2023, A8G inked an agreement for the acquisition of this Queensland-based project from Atlantic Lithium Limited. The project is located <55km from existing rail infrastructure with connections to the Port of Bundaberg. Keep reading to know all about the project! 

Basic geology of the EPM16260 and EPM 16261 with RC hole’s locations marked

Image source: company update

 Titanium potential across May Queen South

Based in central Queensland, the project has a JORC 2012 Inferred Mineral Resource estimate of 54.9Mt at 37.5% Al₂O₃% and 5.2% TiO₂ and 7.9% Rx SiO₂%.

In July, initial field program comprising mapping and surface rock chip sampling was completed at the May Queen South Bauxite project.  

Outside the current resource area, a zone was identified with high grades of TiO₂% during the field investigation and surface sampling. The analytical results for the zone are between 3.36% and 17.55%.

Going forth, A8G will be involving metallurgical specialists for assessing the high-grade titanium ore processing pathway as well as its potential applications.

The company has reviewed the historical database of drilling results and highlighted the high-grade titanium results within the resource envelope showing ~10% of drilling assays between 3.8% to 13.2% TiO₂.

The highest TiO₂ grade has been delivered from sample Q23767 (17.55% TiO₂). Also, downhole grades from the resource drilling suggest a surface enriched titanium zone that reduces in grade with depth in the bauxite profile.

               Brittle nature of the bauxite rock as sample Q23767 (17.55% TiO₂)

The initial sampling program has reflected potential to expand the footprint of TiO₂ resource.

Future course of action

Presently, A8G is working to get titles of EPM16260 and EPM16261 transferred to its subsidiary company. The company then plans to submit the required work program application to commence a shallow drill campaign focusing on expanding the TiO₂ mineral resource.  

A8G shares traded at AU$0.145 on 03 August 2023, with a market cap of over AU$8 million.