Petratherm Limited (ASX: PTR) has commenced a 4,000-metre drilling program at its Muckanippie Titanium Project in South Australia’s northern Gawler Craton. The exploration focuses on the Rosewood and Claypan prospects, targeting titanium-rich heavy mineral sands (HMS) spanning several square kilometers. Deeper drilling at Claypan will assess Titanium-Vanadium-rich basement rocks for vanadiferous titanomagnetite (VTM) deposits. Drilling depths will range from 30-70 meters, with tighter spacing in zones of interest.
Initial assay results are expected by late November 2024. Earlier exploration reported high titanium dioxide (TiO₂) grades (10-50%) near the surface, with significant vanadium potential in the basement rock. The project, including a joint venture with Narryer Metals (ASX: NYM), reflects the area's potential to become a major source of critical minerals. Petratherm, which is also focused on copper-gold exploration, aims to assess the economic viability of the mineralization at Muckanippie through this drilling campaign.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
