PTR Minerals (ASX:PTR) has unveiled a maiden resource estimate for the Rosewood Titanium Project in South Australia of 463 million tonnes @ 8.8% heavy minerals (HM), containing 40.6 million tonnes of HM.
The resource uses a 3% HM cut-off grade and includes the Rosewood East deposit, which comprises 294 million tonnes @ 9.7% HM, containing 28.5 million tonnes of HM, with 89% in the indicated category.
An initial mining program is expected to focus on the Rosewood East deposit.
Using an 8% HM cut-off grade, the Rosewood resource estimate returns 208 million tonnes @ 13.5% HM, with 94% in the indicated category. The resource hosts an average valuable HM grade of 93%, with leucoxene accounting for 75% of HM.
The resource estimate is classified as 57% indicated. The company has planned workstreams aimed at increasing a proportion of this material to the measured category in the coming months.
All mineralisation at Rosewood occurs within a single, coherent, and shallow deposit. Mineralisation thickness ranges from 5–30m with preliminary indications suggesting the deposit will be amenable to conventional open-pit mining.
PTR Minerals has appointed Australian Mining Consultants to undertake pit optimisation and mine scheduling studies.
CEO Peter Reid says the Rosewood deposit has “delivered on expectations to be a globally significant titanium deposit”.
“Its large, continuous, high-grade tonnages located close to surface bode well for a potential long-life, efficient mining operation,” Reid says.
“Only limited exploration has been undertaken on the wider Muckanippie Project area. Significant upside remains not only for extensions at Rosewood but also for the discovery of new high-grade systems.
“The delineation of the Rosewood East portion of the deposit provides the opportunity to commence operations in a very high-grade area, which may allow for the maximisation of early cashflow and reduce the capital payback period.”
PTR Minerals is a critical minerals explorer focused on the discovery of deposits in both frontier and mature mineral provinces.
Write to Maddison Elliott at Mining.com.au
Images: PTR Minerals
