Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Titanium Sands (TSL) has begun trading on the ASX again after announcing it would begin drilling its heavy mineral project in Sri Lanka
  • The company will drill 300 holes as it looks to upgrade the Mineral Resource from Inferred to Indicated and also test a high-grade resource at depth
  • The new resource will allow TSL to revise its scoping study for the asset and assist in its mining process application process
  • The drill program will finish up by February 11, and is being managed by the Geological Survey and Mines Bureau Technical Services Division
  • TSL was suspended from trade back in April 2021 and after resuming trade on Tuesday, it dropped 23.3 per cent to 2.3 cents

Titanium Sands (TSL) has begun trading on the ASX again after announcing it would begin drilling its heavy mineral project in Sri Lanka.

The company was suspended from trading on the stock exchange for around nine months but was added back into quotation on Tuesday.

TSL confirmed it would drill 300 holes for 3600 metres at its Sri Lankan based asset, as it looks to upgrade the Mineral Resource from Inferred to Indicated.

Additionally, the drilling will test a 2.2 square kilometre area of the high-grade resource at depth.

The existing high-grade zone contains a Mineral Resource of 93 million tonnes (Mt) at 5.24 per cent total heavy mineral (THM).

This high-grade zone represents only 35 per cent of the Total Current Mineral Resource Estimate of 65Mt at 4.38 per cent THM.

Drilling at the project is expected to last for seven weeks and wrap up on or around February 11, with the Geological Survey and Mines Bureau Technical Services Division acting as manager of the exploration work.

Drill samples will be processed on-site and lab results are then expected back by the end of February, with an updated Minerals Resource Estimate to follow.

The new resource will allow TSL to revise its scoping study for the asset and assist in its mining process application process.

Titanium Sands was suspended from trade back in April 2021 and after resuming trade on Tuesday, it dropped 23.3 per cent to 2.3 cents at 1:30 pm AEDT.

TSL by the numbers
More From The Market Herald
Siren Gold (ASX:SNG) - Chairman, Brian Rodan

" Siren Gold (ASX:SNG) to begin scoping study at NZ gold projects

Siren Gold (ASX:SNG) will undertake a scoping study for underground development at its Big River and…

" Mad Paws (ASX:MPA) reports 199pc growth December-quarter revenue

Pet services marketplace Mad Paws (ASX:MPA) has reported operating revenue for the December quarter of $2…

" Vanadium Resources (ASX:VR8) increases stake in Steelpoortdrift Project

Vanadium Resources (A:VR8) increased its interest to 73.95 per cent in the Tier 1 Steelpoortdrift Vanadium…

" Stanmore (ASX:SMR) awards EPSA Pacific $564m open-cut mining contract

Stanmore Resources (ASX:SMR) has awarded EPSA Pacific a $564 million mining contract at its Isaac Downs…