ASX-listed Pinnacle Minerals Ltd (ASX:PIM) is excited to announce the significant discovery of broad and shallow zones of heavy mineral (HM) mineralisation at the Capel Mineral Sands Project in Western Australia. The latest infill and extension drilling, which tested historical wide-spaced drilling by Iluka, has revealed an interpreted strike length of up to three kilometers.
HIGHLIGHTS:
Broad and Shallow Mineralisation: Infill and extension drilling has intercepted broad and shallow zones of HM mineralisation over an interpreted trend of up to three kilometers.
Assay Results: The first batch of heavy mineral assays from 26 holes has been received, with notable results including:
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3.4% HM over 7m from 16m downhole, including 2m at 7.9% HM (CAP023)
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3.0% HM over 5m from 19m downhole (CAP011)
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2.9% HM over 6m from 3m downhole (CAP002)
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13.1% HM over 1m from 19m downhole (CAP002)
Surface Mineralisation: All holes assayed to date have intercepted mineralization from the surface.
Drilling Program Goals: The drilling program aims to define an ilmenite (titanium ore) dominated HM Mineral Resource.
Strategic Location: The southwest of Western Australia is a well-known HM region with several large deposits currently mined by global companies including Tronox (NYSE: TROX), Iluka (ASX: ILU), and Doral (Iwatani Corp - TYO:8088).
Pinnacle Minerals’ extension and infill drilling at the Capel Mineral Sands Project has intercepted shallow and broad zones of HM mineralisation over an interpreted strike length of up to three kilometers. The initial assays reveal all holes intersecting HM mineralisation from the surface, with significant intersections such as 2.8% HM over 9m from 15m downhole and high-grade intercepts of 13.1% HM over 1m.
These assays on the western side of the project confirm that the drilling program successfully intersected the younger of two mineralised trends previously identified by Iluka, validating Pinnacle's modeling efforts. The central and more prospective area of the project is yet to be assayed, with assays of the older mineralised trend intersected in CAP067 still pending. The full suite of assay results is expected in the coming weeks and will be released to the market accordingly.
Additionally, Diamantina mineralogists will conduct sachet scanning of the HM sink material to analyse the valuable heavy mineral fraction (VHM%) and the mineral assemblage to guide further studies on the project.
Pinnacle Minerals Managing Director, Nic Matich, commented:
"The initial assay results from this extensional and infill drilling campaign have borne early fruit, with moderate grade strandline mineralization intercepted over an interpreted trend of up to three kilometers. The grade and thickness of these initial assay results are a positive sign that the Capel Mineral Sands Project has the potential for a shallow Mineral Resource to be defined over a broad area."
This discovery marks a significant step forward in the development of the Capel Mineral Sands Project, highlighting its potential to contribute substantially to the mineral resources sector in Western Australia. Pinnacle Minerals Ltd remains committed to advancing this project and providing further updates as additional assay results are received and analysed.
About us:
About Pinnacle Minerals 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.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
