Proactive Investors - Run By Investors For Investors

Titanium Sands in trading halt ahead of material project acquisition announcement

The company hopes to complete a scoping study for the Mannar Heavy Mineral Sands Project by the June quarter of 2020.
Mineral sands
The company’s flagship project is the Mannar Heavy Mineral Sands Project in Sri Lanka

Titanium Sands Ltd (ASX:TSL) is in a trading halt ahead with an announcement pending in relation to a material project acquisition.

The trading halt will remain in place until the beginning of trading on the ASX on Tuesday, July 16, 2019, or when an announcement is made to market, whichever occurs earliest.

TSL's shares last traded at 1.7 cents and have been up to 1.9 cents this week.

In April the company drilled 802 holes on the Mannar Island Heavy Mineral Sands Project in Sri Lanka, which was designed to infill previous resource drilling from 400 metre spaced lines to 200 metre spaced lines.

The drilling, which targeted areas of potential resource extension, will also contribute to a further resource update planned for July-August 2019.

The Mannar ilmenite-leucoxene heavy mineral deposit is on a 25-kilometre-long by 5-kilometre-wide sand island in the dry northwest of Sri Lanka.

READ: Titanium Sands drills minerals sands for scoping study at Sri Lankan project

The island is joined to the mainland by a road and small causeway with mineral sand deposits occurring elsewhere along the coast but only the government-owned Lanka Mineral Sands on the northeast coast at Pulmoddai is operational.

Mannar Island is a low lying (less than 10,000 years old), largely unconsolidated sand island with heavy mineral deposits contained within extensive sheets of 1 to 3 metres thick beach and beach sands along the coast.

View full TSL profile View Profile

Titanium Sands Ltd Timeline

Related Articles

A gold nugget
March 31 2019
The Albury Heath project near Meekatharra now contains 35,479 ounces of gold.
Drilling at Gabanintha project
February 05 2019
The company expects a ‘material’ increase in vanadium resources and will also publish a base metals resource.
First ore is loaded at Edna Beryl mine
January 20 2019
Emmerson sold Edna Beryl to Territory but will get 12% of gold ore produced.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use