Petratherm extends mineralisation, flags new high-grade titanium zone at Rosewood

• PTR flags extended mineralisation and new heavy minerals zone at Rosewood
• Assays returned up to 27% HM, confirming grade and thickness
• Company to kick off Phase 4 drilling ASAP

Special Report: Petratherm says drilling at its Rosewood Heavy Mineral Sands project has extended high-grade mineralisation and flagged a new HMS zone at the Echo deposit.

The Phase 3 drilling program was designed to test extensions of sediment-hosted titanium mineralisation to the north of the project as well as assess the prospectivity of identified new sedimentary and saprolite heavy mineral targets.

So far, the 3227m of aircore holes has extended the continuous high-grade mineralisation a further 2.6km to the north, with the titanium-rich HM (heavy minerals) mineralisation now extending over 40km2, including two extensive high-grade mineralised zones totalling 22km2 that remain open.

Petratherm’s (ASX:PTR) assays have confirmed the continuity, grade and thickness of the mineralisation, and include:

• 8m at 20.2% HM from 2m, including 5m at 27.0% HM from 3m
• 12m at 12.5% HM from 5m, including 4m at 25.0% HM from 7m
• 18m at 8.1% HM from 7m, including 5m at 19.8% HM from 9m
• 19m at 11.3% HM from 6m, including 7m at 19.1% HM from 6m
• 6m at 16.0% HM from 9m, including 2m at 25.4% HM from 9m; and
• 7m at 11.7% HM from 3m, including 4m at 17.4% HM from 6m.

The drilling also identified the newly named Echo prospect which extends 4.5km, is approximately 2km wide and remains open along a 10km prospective trend.

Notable results from Echo:

• 11m at 3.2% HM from 6m including 2m at 6.1% HM from 11m
• 6m at 5.1% HM from 10m including 3m at 7.1% HM from 13m
• 9m at 3.0% HM from 16m including 2m at 5.3% HM from 23m
• 7m at 3.2% HM from 12m including 1m at 6.1% HM from 13m
• 3m at 4.5% HM from 7m including 1m at 10.2% HM from 9m; and
• 6m at 3.5% HM from 6m.

More from PTR: Positioned for district-scale titanium discovery in South Australia

Phase 4 drilling on the cards

In addition, limited drilling was undertaken around the saprolitic targets at the Duke, Nardoo and Claypan prospects, which represent a new style of high-grade titanium rich HM mineralisation hosted in saprolite material.

Results are pending but the company is confident they may be similar to the logging of HM concentrates previously reported from drilling in April which returned variable valuable heavy mineral content ranging from 36.6% to 78.4% HM.

“The Phase 3 drill program has been an outstanding success, significantly extending the scale of high-grade mineralisation at Rosewood while also uncovering a major new mineralised area to the northeast at Echo,” CEO Peter Reid said.

“High-grade HM mineralisation at Rosewood East is now confirmed over an area of 22km2 within a broader mineralised footprint of over 40km2.”

Drill results continue to confirm high heavy mineral grades, continuity and thickness, according to Reid.

“Importantly, mineralogical test work to date has shown the Rosewood East assemblage comprises very high valuable heavy mineral content of over 95%, dominated by high-grade titanium minerals in excess of 70% TiO2 content.

“Identification of the new Echo Prospect, extending 4.5km and open along trend, demonstrates the broader scale potential and emerging camp style titanium province of the Muckanippie Suite.

“Together, Rosewood and Echo provide the company with multiple large-scale, high-grade HM systems that remain open in multiple directions.”

PTR is now planning to conduct another round of drilling ASAP, bolstered by the latest evidence of Rosewood’s large size and high-grade potential.

“Looking ahead, the upcoming Phase 4 drill program in late October will be a pivotal step as we progress Rosewood toward a maiden JORC inferred and indicated resource, while also advancing exploration at Echo and the nearby saprolitic targets,” Reid said.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.