Titanium Sands Ltd
Titanium Sands Ltd (ASX:TSL) is listed on the Australian Securities Exchange.
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Titanium Sands upgrades mineral sands resource, shares rise
Titanium Sands Ltd (ASX:TSL) has updated the JORC resource estimate for its Mannar Island Project in Sri Lanka to 90.03 million tonnes grading 6.60% total heavy minerals (THM).
Shares are up 25%, last trading at 2.5 cents this afternoon.
Of this total resource, 58.8% of the contained THM is on tenure already held by the company with the balance hosted on tenure in the process of being acquired by the company.
Shareholders will vote on the acquisition of the tenure at the general meeting on Friday 21 February 2020.
The heavy minerals resource is dominated by ilmenite and leucoxene with minor but valuable rutile and zircon components.
TSL's managing director Dr James Searle said: "Translation of over 66% of the Mannar Island Mineral Resource into the better defined Indicated Mineral Resource category is a major step forward for the Mannar Island Project and a sound basis for further multiple increases in the quality resource base".
Other Titanium Sands Ltd news
- Titanium Sands working in Sri Lanka within guidelines of granted exploration licences
2020-07-01 - Titanium Sands完成对Bright Angel的收购，扩大了在Mannar的产业
2020-03-17 - Titanium Sands试验证实斯里兰卡项目的THM深度资源潜力，股价上涨
2020-03-10 - Titanium Sands的结果表明马纳那岛THM的深度潜力
2020-03-09 - Titanium Sands assays confirm THM depth resource potential at Sri Lankan project, shares up
2020-03-06
