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Ann: Mannar Project Drilling Completed, page-4

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09/03/17

13:54

Post #: 23218574
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Originally posted by francinoman ↑

MANNAR PROJECT DRILLING COMPLETED ENCOUNTERING SIGNIFICANT HEAVY MINERAL CONCENTRATIONS PRIORITY AREAS FOR RESOURCE EXPANSION DRILLING IDENTIFIED

HIGHLIGHTS

Drilling by the project vendor has encountered significant heavy mineral concentrations up to 3 kilometres inland from the previously reported resource envelope.

High grade heavy mineral occurrences have been noted up to 400m landward of the previously reported JORC inferred resource envelope on the adjacent mainland.

Preparation of samples from the 2016 drilling have now been completed and will be consigned to a specialist mineral sands laboratory.

The Company anticipates being able to lodge a notice of meeting seeking shareholder approval for the acquisition of the Sri Lankan heavy minerals sands projects this month.

The Board of Titanium Sands Limited (ASX:TSL) (“TSL”) is pleased to report that it has received an update from the Mannar Island mineral sands project vendor that concentrations of heavy minerals have been identified at surface in locations up to 450m landward of the previously reported JORC resource envelope at the Mannar Island Project in Sri Lanka (Figure 1).

Figure 2 shows high concentrations of heavy mineral sands at a location (HG1 in Figure 1) 250m inland of the previously reported JORC resource envelope.* In another location on the mainland shoreline north east of Mannar Island (HG2 in Figure 1) heavy mineral accumulations have been observed from the coast up to 450m inland.

A panned concentrate sample from 400m inland is shown in Figure 3.

As a result priority drilling zones have been defined to expand the resource envelope further landward by 400 to 500m at three locations with the total area of proposed drilling exceeding 10km2 (Figure 1). Following completion of the acquisition of Srinel Holdings Ltd (“Srinel”) it is anticipated that TSL will commence this drilling in the June quarter of this year.

Srinel has advised that during 2016 a total of 608 drill holes (of 1,000 in total) were drilled on the tenure that is to be acquired by TSL. Visual logging of the drilling has identified areas of heavy mineral concentration up to 3 Km inland from the previously reported JORC inferred resource envelope along the north east shoreline of Mannar Island (Figure 1). This area is contained within the expanded project area (as announced 29th January 2016).

Samples from these 608 holes are those to be sent for laboratory analysis. Accordingly an amended collar and total depth list of drill holes is appended here and replaces any previous tabulation of the 2016 drilling (Table 1).

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Ann: Mannar Project Drilling Completed, page-4

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