Petratherm (ASX:PTR) has extended mineralisation at the Rosewood Heavy Mineral Prospect, following the return of drilling assays from its phase two program.
The company conducted an aircore drilling program over a total of 73 drillholes, spanning 2,225m to further investigate the heavy mineral mineralisation first identified in drilling last year.
Intersections include 9m @ 15.1% heavy mineral from 5m including 6m @ 20.3% HM from 8m, 11m @ 12.3% HM from 4m, including 5m @ 21.4% HM from 7m.
The company will conduct further drilling this week with a particular focus on extending towards the north, where the company reported intersections such as 8m @ 13.1% heavy mineral from 6m including 4m @ 20.5% heavy mineral from 7m.
Petratherm, which has a market capitalisation of $100.22m, is also working towards completing bulk sample metallurgical studies to provide an initial assessment of key elements, including mineral recovery processing and potential product mix.
CEO Peter Reid says phase two of drilling at Rosewood has returned some of the company’s best results to date.
“These results have extended the high-grade mineralisation up to 1.6 kilometres further north with the mineralised envelope now exceeding 20 km2,” Reid says.
“Two distinct zones of continuous mineralisation are now evident from the drilling – they are strongly mineralised and remain open to the north.”
With prospects spanning South Australia, Petratherm is an explorer focused on the development of copper and critical minerals projects in the northern Gawler Craton region.
Write to Maddison Elliott at Mining.com.au
Images: Petratherm
