Pinnacle Minerals Ltd (ASX: PIM) has announced the approval and scheduling of a significant drilling program at the Capel Mineral Sands Project in Western Australia.
The program, comprising 93 air core drilling holes over approximately 2,000 metres, is set to begin on 20 May 2024.
The Capel project, a brownfield heavy mineral (HM) exploration site, has already shown promising shallow mineralisation in previous drilling efforts by Iluka Resources.
Noteworthy results include a mineralisation of 21 metres at 3.3 per cent HM from the surface, including 9 metres at 6.1 per cent HM from 11 metres depth.
The project is strategically located in a region renowned for its substantial mineral sand deposits and production facilities.
This drilling initiative aims to define an ilmenite-dominated heavy mineral resource, complemented by accessory zircon and rutile.
Following the drilling results, a concept study will outline potential development pathways, aligning with the market’s increasing demand for titanium dioxide (TiO2), as indicated 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.”
Pinnacle Minerals is focused on delivering shareholder value through the systematic exploration and development of its portfolio of battery and technology metals projects in Canada, Western Australia, and South Australia.
The company’s primary focus is the Adina East Project in James Bay, Quebec, located near the world-class Adina Lithium Project and adjacent to the Trieste Lithium Project and the Tilly Lithium Project.
Pinnacle’s Australian exploration assets are prospective for uranium, rare earth elements, and heavy mineral sands.
