Petratherm (ASX:PTR) has uncovered “high-grade” titanium-rich heavy mineral sands (HMS) at the Muckanippie Project in South Australia.
Reconnaissance sampling and surface sampling, alongside assaying of historic drillcore stored at the South Australian Government’s core library, found previously unknown titanium mineralisation that spans several kilometres at the Rosewood and Claypan prospects.
Petratherm reports sample grades returned between 10% and 50% titanium dioxide from both prospects. The company adds 79% of the samples recorded assays greater than 10% titanium dioxide, while 28% recorded assays greater than 30%.
At Rosewood, outcropping mineralisation extends over 9km west to east. Wide-spaced drilling has also confirmed the HMS extends at least 6km to the north.
Meanwhile, at the Claypan prospect, samples of the mineral sandstone horizon assaying more than 5% titanium dioxide and up to 31.5% titanium dioxide have been traced over a 1.5km trend before passing under cover.
CEO Peter Reid says the Muckanippie Suite is a rare and highly fertile layered intrusion, and the titanium discovery — including “high-grade, high-value” titanium ores as HMS — has the potential to be transformational.
“The mineralisation has been traced over a large-scale area and has significant potential as large tonnage direct shipment ore,” Reid says.
“The Adelaide to Darwin railway, located just 30km east of Muckanippie, offers low-cost access to ports and global markets.
“The company looks forward to drilling in October, which will expand on these significant and exciting findings to define initial grades and extents of the mineralisation.”
A 4,000m drilling program is scheduled to start early next month to test the grade and extent of the HMS mineralisation and high-grade titanium-vanadium basement horizons.
Titanium is a critical mineral for essential modern technologies, economies, and national security. The mineral is used in EVs and battery storage, wind technology, pigments, and as an alloy in steel and superalloys.
Petratherm adds that 90% of titanium products are sold as titanium dioxide, which is a white pigment with high brightness.
Britannica reports that titanium deposits are dispersed worldwide, including in Australia, the US, Canada, South Africa, Sierra Leone, Ukraine, Russia, Norway, and Malaysia.
In 2022, the global market size for titanium amounted to US$28.6 billion and is forecast to grow over the coming years to nearly US$52 billion in 2030.
The Muckanippie Suite is a series of large layered intrusions, ranging in composition from ultramafic to felsic, covering 645km2 of land in the northern Gawler Craton of South Australia.
Petratherm is focused on developing a portfolio of mineral exploration projects with high growth potential. The company is focused on critical minerals, particularly the discovery of copper-gold and rare earths.
Write to Aaliyah Rogan at Mining.com.au
Images: Petratherm
