Titanium Sands Ltd’s (ASX:TSL) due diligence results have confirmed the continuity of the high-grade heavy mineral zone over a strike length of at least 8 X 2 kilometres through its acquisition tenure in Mannar Island, Sri Lanka.
Background
Last month, TSL had entered into an agreement to acquire a substantive 38 square kilometre tenure package that complements the company’s existing extensive tenure at Mannar Island in northwest Sri Lanka.
Existing Titanium Sands Ltd tenure over the Mannar Island Project and the acquisition tenure
Part of the due diligence investigations being undertaken by TSL has been to analyse further drill holes from the acquisition tenure in a zone of high-grade heavy mineral sands defined by previous drilling.
Due diligence drilling assay results on the acquisition tenure
A total of 329 drill holes were analysed. These due diligence results confirm the continuity of the high-grade heavy mineral zone over a strike length of at least 8 kilometres and up to 2 kilometres wide.
Importantly, the high-grade zone in the acquisition tenure adjoins and extends the heavy mineral concentration zones in the existing TSL tenure.
Due diligence investigations are continuing and an extension of a further 30 days has been granted by the vendor to allow finalisation of a resource report as well as third party professional reports.