Petratherm Ltd

via The Market Online (Australia) Multi-mineral explorer Petratherm Ltd is set to plug $1.6 million into upcoming #drilling work at its Muckanippie #Titanium Project in South Australia, following completion of a successful placement. Read more: https://loom.ly/pLYVQKE #PTR #ASX

#ASXNews Successful Placement to Underpin Drilling at Muckanippie Petratherm Ltd is pleased to advise that it has received firm commitments to raise $1.6M (before costs) through a share placement. The Placement was strongly supported by existing and new investors. CEO, Peter Reid, has contributed $20,000 and PTR’s Directors have agreed, subject to shareholder approval, to contribute $200,000 to the Placement. • Drilling of high Priority Rosewood and Claypan Prospects for #Titanium Rich Heavy Mineral Sands scheduled to start from the second week of October. • Share Purchase Plan of up to $1M will be offered to eligible retail shareholders on the same pricing terms as the Placement. #PTR Chief Executive Officer Peter Reid commented: “We are pleased to announce the completion of the Placement which was well supported. The Company has in addition announced a Share Purchase Plan allowing our existing shareholders the opportunity to be involved at an exciting time. The Muckanippie Project, located in the northern Gawler Craton of South Australia is highly prospective for a range of high value critical minerals. Mapping, surface sampling, and re-assaying of historic drilling has discovered high-grade Titanium rich heavy mineral sands. Petratherm is now well-funded and has a solid platform for its upcoming drilling operations due to start from early October.” See the full announcement: https://loom.ly/dVqJLUE #Petratherm #ASX #mining

#ASXNews Petratherm Ltd will be placed in an immediate trading halt pending the release of an announcement regarding capital raising initiatives. The trading halt should remain in place until the earlier of #PTR releasing the announcement or commencement of trading on Wednesday, 18 September 2024. See the full announcement: https://loom.ly/C-k21xY

via Stockhead Petratherm Ltd says reconnaissance mapping and surface sampling along with assaying of historic drill core stored at the South Australian Government’s core library has identified previously unknown high-grade #titanium mineralisation spanning many square kilometres at two prospect sites – Rosewood and Claypan, part of Petratherm’s Muckanippie project. The Australian Government, along with the United States, EU, India, Japan, South Korea and the United Kingdom designated titanium a #criticalmineral for essential modern technologies, economies and national security. Read more: https://loom.ly/ZShmZbI

via Grafa Petratherm Ltd discovered high-grade heavy mineral sands at its Muckanippie Project, located southwest of Coober Pedy, South Australia. Recent reconnaissance mapping and surface sampling, combined with re-assaying of historical drilling data, have revealed a substantial presence of titanium-rich HMS over several kilometres at the Rosewood and Claypan prospects. Sample grades from these areas range from 10% to 50% #titanium dioxide, with 79% of samples exceeding 10% TiO2 and 28% surpassing 30% TiO2. See more ⬇️ https://loom.ly/IvoJ8Ns

via Small Caps Petratherm Ltd has identified high-value #titanium at its heavy mineral sand (#HMS) discovery within the Muckanippie project area, south-west of Coober Pedy in South Australia. The Australian, US, Indian, Japanese and South Korean governments, along with the European Union, have designated titanium as a critical mineral for essential modern technologies, economies and national security. See more ⬇️ https://loom.ly/FUA0O_A

via @Mining.com.au Petratherm Ltd has uncovered “high-grade” #titanium-rich heavy mineral sands at the Muckanippie Project in South Australia. Read more ⬇️ https://loom.ly/GdikVrc

#ASXNews EXCEPTIONAL HIGH-GRADE TITANIUM RICH HEAVY MINERAL SANDS DISCOVERED Petratherm Ltd is pleased to announce a high-grade heavy mineral sand (#HMS) discovery at its Muckanippie Project area southwest of Coober Pedy, South Australia 🔹Mapping, surface sampling, and re-assaying of historic #drilling has discovered high-grade Titanium rich heavy mineral sands (HMS) over several kilometres at the Muckanippie Project. 🔹Exceptional sample grades ranging from 10% to 50% TiO2 from two large Prospect Areas. 79% of samples >10% TiO2, with 28% > 30% TiO2 🔹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. 🔹At the Rosewood Prospect, outcropping mineralisation extends over 9 kilometres West to East. Wide spaced drilling confirms HMS extend at least 6 kilometres to the North. 🔹Re-Assaying of Historical Rosewood drill intercepts include: ➖CAR 39 – 20m @ 4.2% TiO2 from 4m, including 4m @ 9.1% TiO2 from 4m ➖CAR 38 – 36m @ 4.0% TiO2 from 0m, including 6m @ 7.8% TiO2 from 8m 🔹An accompanying Exploration Target for the initial planned drill area over the Rosewood Target highlights excellent upside potential. 🔹At Claypan Prospect, samples of the mineral sandstone horizons assaying >5% TiO2 and up to 31.5% TiO2 have been traced over a 1.5 kilometre trend before passing under cover. 🔹A historical drill hole, 6 kilometres South of Claypan outcrop, intersected the heavy mineral sand layer assaying 12.1% TiO2, and underlying source rocks were intersected returned grades up to 21.0% TiO2 and 0.44% V2O5. 🔹A 4000-metre drilling program is scheduled to start early October to test grade and extent of HMS mineralisation and high-grade Titanium-Vanadium basement horizons. #PTR Chief Executive Officer, Peter Reid commented: “The Muckanippie Suite is a rare and highly fertile layered intrusion, and this titanium discovery including high-grade, high value, titanium ores as heavy mineral sands has the potential to be transformational for the Company. “The mineralisation has been traced over a large-scale area and has significant potential as large tonnage direct shipment ore. The Adelaide to Darwin railway, located just 30 kilometres east of Muckanippie, offers low-cost access to ports and global markets. “The Company looks forward to drilling in October, which will expand on these significant and exciting findings to define initial grades and extent of the mineralisation”. View the Announcement⬇️ https://loom.ly/qdkiSm4 #ASX #titanium #EV #batterystorage #miningnews #petratherm

Recent processing and interpretation of gravity data on Petratherm Ltd’s Mabel Creek Copper-Gold Project has identified numerous new iron-oxide #copper-#gold (IOCG) targets. Gravity surveys were undertaken by #PTR in April this year around the BigNE prospect area where favourable geology and alteration had been identified. Several new gravity anomalies were generated from this work and three of them are considered high-priority drill targets. The Company is searching for large copper-gold accumulations associated with #iron-rich alteration (hematite) that form large dense bodies which can be identified in gravity survey data. Learn more: https://loom.ly/5bsEfyI #PetrathermLimited #Exploration #ASX

While exploring the Mabel Creek Project for Tier-1 sized Iron-Oxide #Copper #Gold deposits, Petratherm Ltd discovered two targets within 10km of known hematite alteration with modelled densities of 3.4 g/cm³, comparable to known IOCG deposits such as BHP’s Prominent Hill, Carrapateena and the Oak Dam Project. Target BCG2, models as a large (450m x 1070m x >4000m) body at 500 metres below surface and is one of the three identified high-priority Copper-Gold targets. Discover more: https://loom.ly/1hMnmmU #PTR #Petratherm #ASX