Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Titanium Sands extends high-grade zone at acquisition tenure in Mannar Island Sri Lanka
Mon, Aug 12, 2019, 08:07 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 12, Colombo: Titanium Sands Ltd's (TSL) Investigations have confirmed continuity of an 8km long and up to 2km wide high-grade zone through its acquisition tenure in Mannar Island, Sri Lanka, the company said in an investor report.

Titanium Sands Ltd has previously announced that it has entered into a conditional sale agreement to acquire a group of companies that hold a substantive 38km2 tenure package (Acquisition Tenure) that complements the Company's existing extensive tenure at Mannar Island in north west Sri Lanka.

Part of the due diligence investigations being undertaken by TSL has been to analyses further drill holes from the acquisition tenure in a zone of high grade heavy mineral sands defined by previous drilling and reported in the original proposed acquisition announcement. A total of 329 drill holes were analyzed.

These due diligence results confirm the continuity of the high grade heavy mineral zone over a strike length of at least 8km and up to 2km wide through the acquisition tenure.

The high-grade zone in the acquisition tenure adjoins and extends the heavy mineral concentration zones in the existing Titanium Sands tenure.

The company said due diligence investigations are continuing and an extension of a further 30 days has been granted by the vendor to allow finalization of a resource report as well as third party professional reports. Titanium Sands Limited is focused on defining and developing high grade, high value and easily minable heavy mineral sands deposits. The Company has entered into an agreement with Srinel Holdings Ltd to acquire a high grade ilmenite-leucoxene project on Mannar Island in northwestern Sri Lanka on which ongoing drilling is expanding resources and reserves that can be brought rapidly into production with modest capital requirements. Titanium Sands Limited is also evaluating the potential elsewhere in Sri Lanka and other heavy mineral sand provinces around the world for projects with similar parameters.


ColomboPage - Recent 10 Stories ::
JVP to announce 'Candidate of people's anticipation' today
-- [30 minutes ago]
Fitch Affirms Sri Lanka's Co-Operative Insurance at 'BBB+(lka)'; Outlook Stable
-- [37 minutes ago]
Investigation into dumping 890 metric tons of potatoes during the 52-day unconstitutional government
-- [56 minutes ago]
Massive development of the Northern Province in the last three years
-- [1 hour and 46 minutes ago]
Sri Lanka to rehabilitate mangrove lands used for aquaculture and salterns
-- [2 hours ago]
CID seeks public support to apprehend a suspect
Construction of Sri Lanka Korea National Vocational Training Institute completed
PM says young people should be given priority to change the political system
Will not allow the country's economy to collapse, PM vows
Mahindra & Mahindra inaugurates first automotive assembly plant in Sri Lanka

Copyright © 2000, 2016 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.