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- Titanium Sands (TSL) has begun trading on the ASX again after announcing it would begin drilling its heavy mineral project in Sri Lanka
- The company will drill 300 holes as it looks to upgrade the Mineral Resource from Inferred to Indicated and also test a high-grade resource at depth
- The new resource will allow TSL to revise its scoping study for the asset and assist in its mining process application process
- The drill program will finish up by February 11, and is being managed by the Geological Survey and Mines Bureau Technical Services Division
- TSL was suspended from trade back in April 2021 and after resuming trade on Tuesday, it dropped 23.3 per cent to 2.3 cents
Titanium Sands (TSL) has begun trading on the ASX again after announcing it would begin drilling its heavy mineral project in Sri Lanka.
The company was suspended from trading on the stock exchange for around nine months but was added back into quotation on Tuesday.
TSL confirmed it would drill 300 holes for 3600 metres at its Sri Lankan based asset, as it looks to upgrade the Mineral Resource from Inferred to Indicated.
Additionally, the drilling will test a 2.2 square kilometre area of the high-grade resource at depth.
The existing high-grade zone contains a Mineral Resource of 93 million tonnes (Mt) at 5.24 per cent total heavy mineral (THM).
This high-grade zone represents only 35 per cent of the Total Current Mineral Resource Estimate of 65Mt at 4.38 per cent THM.
Drilling at the project is expected to last for seven weeks and wrap up on or around February 11, with the Geological Survey and Mines Bureau Technical Services Division acting as manager of the exploration work.
Drill samples will be processed on-site and lab results are then expected back by the end of February, with an updated Minerals Resource Estimate to follow.
The new resource will allow TSL to revise its scoping study for the asset and assist in its mining process application process.
Titanium Sands was suspended from trade back in April 2021 and after resuming trade on Tuesday, it dropped 23.3 per cent to 2.3 cents at 1:30 pm AEDT.
