Petratherm (ASX:PTR) aims to inform mineral recovery processing and produce initial mineral sample products from the Muckanippie Project in South Australia.
The company collected a one tonne bulk sample from mineralised intervals within the Rosewood East discovery area for metallurgical testwork. The bulk sample will be processed by IHC Mining in Brisbane using a wet concentrator plant, followed by magnetic and electrostatic separation to produce heavy mineral concentrates.
CEO Peter Reid says these results will inform the separation processing, as well as final mineral product.
In conjunction, Petratherm, which has a market capitalisation of $77.76 million, completed a phase-two extension drilling program at the Rosewood Titanium Discovery, alongside other prospect sites within Muckanippie.
The program, comprising 128 holes for 4,486m, tested for extensions of the heavy mineral mineralisation 1.6km north of the currently defined mineralised outline.
Petratherm says the next phase of exploration drilling is scheduled to begin later this quarter.
A previously conducted heritage survey will allow for drilling to extend several kilometres further to the north, east and west.
Reid adds the heritage survey allows for future step-out drilling to be carried out beyond the current drill area.
“Whilst we eagerly await this next round of drilling results, another key milestone from the project will be processing of the one-tonne bulk sample for metallurgical testwork,” Reid says.
Further, Petratherm has notified Narryer Metals (ASX:NYM) that the stage-one commitment, as part of the farm-in and joint venture deal, has been met.
As a result, Petratherm has earned a 51% interest in EL6715. The company has elected to earn an additional 19% interest in the tenement, raising its stake to 70%, by spending a further $300,000 over the next two years.
Petratherm is a copper and critical minerals explorer focused on discovering deposits in frontier and mature mineral provinces.
Write to Aaliyah Rogan at Mining.com.au
Images: Petratherm
