Marmota (ASX:MEU) has observed 100% leucoxene in all heavy mineral concentrate samples immediately west of the new titanium heavy mineral sands discovery within the Muckanippie Project in South Australia.
Leucoxene is used as a feedstock in titanium pigment plants and is considered high-value, high-titanium content.
Marmota, which has a market capitalisation of $67.16 million, says the latest results confirm the presence of high-value titanium in the next tenement to the west and extends the potential strike of the company’s titanium heavy mineral sands discovery to 9km.
Chairman Colin Rose says Marmota announced in January heavy mineral assays featuring “bonanza grades” in every discovery hole.
“Those assays confirm Marmota’s discovery at Muckanippie as a highly significant new heavy mineral sands discovery. Marmota is progressing with full speed,” Rose says.
“The two holes tested by Flinders are 277m apart, were sampled at different depths, and both feature 100% high-value leucoxene in all observed heavy mineral concentrate samples.”
“The potential strike of the Marmota titanium heavy mineral sands discovery is now 9km.”
The concentrate samples come from historical work conducted by Flinder Mines, now Red Hawk Mining (ASX:RHK) which was searching for micro-diamonds in kimberlites in the Gawler Craton.
Flinder Mines’ program comprised two drillholes to the west of Marmota’s new titanium discovery at Muckanippie. Both of the holes are located within the interpreted titanium-bearing paleochannel.
Now, Marmota holds 28km in length of a highly prospective titanium-bearing paleochannel within its tenements. Of the total, 10km lies within the company’s tenement to the west and 18km lies within the eastern tenement.
The company notes the paleochannel is interpreted to be up to 5km in width over the tenements, as defined by the Geological Survey of South Australia GP2 Project.
Marmota is a South Australian mining company focused on gold, titanium, and uranium.
Write to Aaliyah Rogan at Mining.com.au
Images: Marmota
