Pinnacle Minerals Ltd (ASX: PIM), an ASX listed technology minerals company, is excited to announce the approval and scheduling of a significant drilling program at the Capel Mineral Sands Project in Western Australia. The program, consisting of ninety-three (93) aircore drilling holes covering approximately 2,000 meters, is set to commence on May 20, 2024.
The Capel project, a brownfield heavy mineral (HM) exploration site, has demonstrated promising shallow mineralisation in prior drilling efforts by Iluka Resources. Notable findings include a mineralisation of 21 meters at 3.3% HM from the surface, including 9 meters at 6.1% HM from 11 meters depth. This project is strategically located within a region noted for its substantial mineral sands deposits and production facilities.
This drilling initiative aims to define an ilmenite dominated heavy mineral resource, complemented by accessory zircon and rutile. A concept study will follow the drilling results to outline potential development pathways, aligning with the market's growing demand for titanium dioxide (TiO2), as highlighted by industry forecasts.
Pinnacle Minerals Managing Director, Nic Matich, commented:
“The Capel Mineral Sands Project presents an exciting and low capital intensity brownfield exploration asset. Capel provides shareholders with exposure to a project in the critical minerals space which upon exploration success could have a JORC Mineral Resource Estimate defined in 2024.”
About us:
Pinnacle Minerals Ltd (ASX:PIM) is an ASX listed technology minerals company focused on delivering shareholder value via the systematic exploration and development of its portfolio of battery and technology metals projects in Canada, Western Australia and South Australia. Pinnacle aims to deliver exploration success via systematic and geologically rigorous techniques. The Company’s focus is the “Adina East Project” in James Bay, Quebec which is proximal to the world class Adina Lithium Project (Winsome Resources: ASX:WR1) and adjacent to the Trieste Lithium Project (Loyal Lithium: ASX:LLI) and the Tilly Lithium Project (ASX:WR1). The Company’s Australian exploration assets are prospective for Uranium, Rare Earth Elements and Heavy Mineral Sands.
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Jane Morgan
