PTR on fast track to titanium development
PTR progresses testwork, appoints new head of development at Rosewood
Project shapes as potential world-class titanium discovery
Company aims to kick off next phase of drilling in September
The company is confident Rosewood could be a potentially world-class titanium discovery. It includes several other prospect sites where only very limited drilling has been completed.
Previous results include up to 55.7% HM while mineralogy results from Rosewood East have indicated HM sands with >95% valuable heavy mineral content, with an assemblage dominated by high-grade titanium minerals in excess of 70% titanium dioxide (TiO2).
In the aerospace sector, titanium's lightweight strength – particularly when combined with steel – makes it invaluable for aircraft frames and engine components.
The appointment of highly experienced mineral sands professional Araujo is expected to advance technical studies at the project.
'Victor brings deep expertise in the mineral sands sector,' Petratherm (ASX:PTR) CEO Peter Reid said.
'In particular, he has a very strong history in the successful development of heavy mineral sands projects around the world.
'Given the number and significance of the workstreams currently underway at PTR, he will play a key role as we continue to advance the Rosewood titanium project.'
Bulk sample metallurgical testwork is progressing at Rosewood East and feed processing and trial spiral separation testing is underway to produce an initial heavy mineral concentrate.
In conjunction, the company is assessing saprolite HMS mineralisation from recent drilling at Duke, Nardoo and Claypan prospects. This is a promising new style of high-grade, titanium-rich HM mineralisation.
Victor Araujo is PTR's new head of project development to assist in advancing the Rosewood Titanium Project. Pic: PTR
Ramping up for drilling in September
As Muckanippie's potential grows, PTR has also earned a further 19% beneficial interest in EL 6715 taking its equity position to 70% in a farm-in agreement with Narryer Metals (ASX:NYM).
NYM has advised PTR that it has elected to form a joint venture with PTR holding 70% and managing the project.
While Rosewood prospect primarily occurs on PTR's 100% owned EL 6855, it extends westwards onto the joint venture tenement EL 6715 – which also contains the Duke, Nardoo and Claypan prospects.
Orientation drilling in preparation for future resource drilling at Rosewood is scheduled to commence from early September.
Plus, further exploration drilling of sediment-hosted mineral sands targets will be undertaken to follow up key targets and test for extensions to the current project mineralisation.
'Based on our work to-date, we continue to be of the view that the Rosewood Project is emerging as a major, potentially world-class titanium discovery,' Reid said.
'We look forward to continuing to update the market and all our stakeholders as new results come to hand.'
This article was developed in collaboration with Petratherm, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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