Petratherm surges on ‘outstanding’ Rosewood metallurgical results

Petratherm (ASX:PTR) rallied strongly after announcing results from an initial trial heavy mineral sand (HMS) separation test using samples collected from historic drill holes stored at the South Australian Core Library (CAR series drill holes). The composite samples were collected from widely spaced contiguous drill holes along a 2.5-kilometre-long traverse on the eastern side of the Rosewood HMS Prospect area, located within the Company’s Muckanippie Project in the northern Gawler Craton, South Australia.

• A trial heavy mineral separation test, using samples from historical drilling at the Rosewood Prospect, has returned highly significant Heavy Mineral (HM) grades and mineralogy.
• Composite samples from wide spaced drill holes over 2.5 kilometres returned heavy mineral  (HM) concentrations of 12.0% and 12.5% from shallow depths.
• Laboratory analysis confirms high titanium mineral content of the HM fraction with results reporting approximately 65% TiO2, indicating a significant portion of higher value Ti Minerals are present.
• X-Ray Diffraction analyses of HM fraction indicates 19-21% Rutile, 4-7% Anatase and 68-70% Pseudo-rutile.
• The Company has recently completed regional drilling of Rosewood Prospect stepping away from these historical drill holes covering an expanded area of approximately 8km x 2km.
• 90 samples from a representative drill section trending over 1.8 kilometres selected for fast-tracking  HM separation analysis with results expected in 3-4 weeks.
• Titanium is on the critical minerals list for Australia, US and EU and has uses in electric vehicles and battery storage, wind technology, pigments, and as an alloy in steel and superalloys.

Petratherm CEO, Peter Reid, commented: “The initial metallurgical results from historic drilling at the Rosewood prospect are outstanding and beyond our expectations. As the Muckanippie project evolves, it continues to surprise with emerging potential to be a significant source of high value Titanium minerals and transformational for the Company.

“This outcome is a massive step forward for the Muckanippie Titanium Project and supports  our strategy to maintain momentum on activities over the coming weeks and months to determine the full potential of the project. We now eagerly await the initial batch of heavy mineral results from Petratherm’s recent drilling at Rosewood and look forward to providing results as they come to hand.”