Titanium Sands Limited announced that the resource infill and extension RC aircore drilling completed last year has been incorporated in an updated mineral resource estimate. The mineral resource estimate was undertaken by GeoActive Ltd. with specialist expertise in heavy mineral sands
exploration and resource modelling in compliance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. In the updated MRE, it shows an increase in Indicated resources in Domain 2 and 8 from 31% to 75% and an increase in tonnes from 92.6 million to 145.6 million based on a 2% lower Total Heavy Mineral (THM) grade cut off. For a 3% lower THM cut off, the Indicated portion of the resource increased from 42% to 75% and tonnes from 59 million to 82 million. When the updated Domain 2 and 8 MRE is incorporated into the total MRE for the project it is 318 million tonnes at 4.17% THM up from 264.9 million tonnes at 4.38% THM at a 2% THM lower cut off (Tables 5 and 6). At a 3% THM lower cut off, the total MRE has increased from 164 million tonnes at 5.54% THM to 187 million tonnes at 5.36% THM. The resource block modelling demonstrates excellent grade continuity along the 8km long mineralisation zone with higher grades in Domain 2 being underlain by the higher grades in Domain 8. The areas of Indicated resources in both Domain 2 and 8 are also now defined as continuous zones along the mineralisation trend. The drilling consisted of 315 drill holes for a total meterage of 3,438m carried out in an 8km long by 1 to 2km wide portion of the previously defined heavy mineral resources referred to as Domains 2 and 8. Domain 2 being generally defined by the near surface mineralisation down to 2 to 3m, Domain 8 the underlying mineralisation below Domain to down to 10 to 12m below land surface. The drilling program was designed to decrease line and hole spacing to test for resource extensions and to increase the proportion of Indicated resources in the MRE. The new MRE and the increased resource definition in Domains 2 and 8 will now be used for an updated scoping study. The drilling undertaken for this mineral resource estimate update consisted of 315 Reverse Circulation Aircore (RC/AC) drill holes drilled vertically surface to a target depth of 12m. RC/AC drilling is and established drilling technique for heavy mineral sand resource definition. The drilling rig used is owned by Titanium Sands Ltd. and has been optimized for the drilling conditions of this project. The tractor mounted drilling rig operates with HQ gauge (96mm OD and 63.5mm ID) RC rods with face sampling bits. The on board air supply has the capability to deliver 120psi/90cfm.