Exploration Success at Muckanippie Raises Stakes for Titanium Resource Expansion

• Drilling intercepts up to 60m thick with heavy mineral grades exceeding 39%
• Titanium dioxide (TiO2) content above 20% in multiple zones confirmed by XRF assays
• High proportion of altered ilmenite identified, indicating premium titanium mineralisation
• Mineralisation remains open along a 16km magnetic trend at Muckanippie
• Plans underway for metallurgical testing and further drilling to assess economic potential

Exploration Breakthrough at Muckanippie

PTR Minerals Ltd (ASX, PTR) has announced a significant step forward in its exploration campaign at the Muckanippie Heavy Mineral Sands Project in South Australia. Recent drilling at the Duke and Nardoo saprolite prospects has confirmed the presence of very high-grade titanium-rich heavy mineral sands (HMS) starting from surface and extending up to 60 metres thick. These results build on earlier successes at the nearby Rosewood Titanium Project, reinforcing Muckanippie’s status as an emerging titanium province.

Robust Drill Results Highlight Thick, High-Grade Mineralisation

The Duke Prospect returned standout intercepts including 60 metres at 39.3% heavy minerals (HM) from surface, with a peak 6-metre section grading 61.6% HM. Similarly, Nardoo delivered thick mineralised zones such as 44 metres at 29.4% HM from surface. Laboratory XRF assays on heavy mineral concentrates from both prospects consistently showed titanium dioxide (TiO2) contents exceeding 20% over substantial intervals, underscoring the titanium-rich nature of the mineralisation.

Mineralogical Insights Point to Premium Titanium Ore

Preliminary QEMSCAN analyses reveal a high proportion of altered ilmenite, a titanium mineral with elevated TiO2 content, comprising 42-70% of the heavy mineral assemblage. This mineralogy suggests the ore could yield a high-quality titanium product. The coarse grain size of the titanium minerals, ranging between 200 to 500 microns, indicates amenability to conventional gravity spiral separation techniques, potentially simplifying processing and enhancing recoveries.

Open Mineralisation Along a 16km Magnetic Trend

The Duke and Nardoo prospects lie along a prominent 16-kilometre magnetic anomaly that remains open along strike. PTR’s drilling has so far confirmed mineralisation over strike lengths of approximately 1.3 kilometres at Duke and several hundred metres at Nardoo, with widths up to 200 metres and thicknesses reaching 60 metres. This continuity and scale provide a compelling case for further exploration and resource definition drilling.

Next Steps, Metallurgical Testing and Resource Expansion

PTR’s management plans to undertake bench-scale metallurgical test work to refine processing methods and evaluate the economic viability of producing a heavy mineral concentrate (HMC) using standard wet separation techniques. Additional drilling is also planned to expand the resource footprint along the magnetic trend. These steps will be critical in advancing Muckanippie towards a potential mining operation that could complement the existing Rosewood project.

CEO Peter Reid highlighted the significance of these results, noting that the saprolite-hosted mineralisation offers potential for a large-scale, free-dig operation with a high-value titanium product. The ongoing exploration success at Muckanippie positions PTR Minerals as a notable player in Australia’s critical minerals sector, particularly in titanium supply.

Bottom Line?

PTR Minerals’ expanding high-grade titanium discovery at Muckanippie sets the stage for a potentially transformative heavy mineral sands project in South Australia.

Questions in the middle?

• How will upcoming metallurgical test results impact the economic feasibility of the Muckanippie saprolite mineralisation?
• What is the timeline and scale for further drilling to delineate a JORC-compliant resource at Duke and Nardoo?
• Could the mineralisation along the 16km magnetic trend reveal additional high-grade zones beyond current prospects?