Tusker Minerals (ASX:TSK) reports 2.1 to 2.6 billion tonne JORC Exploration Target at Douala Basin

Tusker Minerals has reported a JORC (2012) Exploration Target of 2.1 to 2.6 billion tonnes at 2.1% to 2.3% total heavy minerals (THM) for the Diwong South Deposit within its Douala Basin Project in Cameroon.

The Exploration Target includes indicative in situ grades of 0.3% to 0.35% rutile and 0.06% to 0.07% zircon, with Tusker stating that the Exploration Target establishes Douala as a globally significant emerging rutile bearing mineral sands system.

Highlights

The Exploration Target was prepared for the Diwong South Deposit in accordance with the JORC Code (2012 Edition), using a domain constrained block model of the interpreted mineralised sand package.

Cut off grades of 0.5% and 1.5% THM were used to define the Exploration Target, which contains an estimated 48 to 55 million tonnes of heavy minerals.

Tusker stated that the potential quantity and grade of the Exploration Target are conceptual in nature, with insufficient exploration completed to estimate a Mineral Resource.

The company also stated that it remains uncertain whether further exploration will result in the estimation of a Mineral Resource.

The current Exploration Target is located within the Diwong South area, covering approximately 152 km², representing approximately 6% of Tusker’s 2,580 km² Douala Basin Project.

The model comprises two mineralised domains, being the upper aeolian plateaus and lower colluvial valleys. Historical drilling in parts of the area terminated at approximately 18m to 24m, with mineralisation remaining open at end of hole in numerous areas.

The modelled grand total mineral assemblage comprises approximately 15% rutile and 3% zircon of THM, with kyanite comprising approximately 70% of the modelled THM assemblage.

Tusker noted that no economic value has been attributed to kyanite at this stage, with recovery, product quality and commercial potential remaining subject to further testwork and market assessment.

Reconnaissance auger drilling across additional targets within the broader Douala Basin Project identified rutile zircon mineralisation outside the current Exploration Target.

Results included RHRAU0035, which returned 3.2m at 0.76% rutile and 0.08% zircon from surface, while RHRAU0033 returned a peak internal interval of 1.0m at 0.86% rutile and 0.12% zircon.

Tusker Chief Executive Officer Cliff Fitzhenry commented on the Exploration Target, stating:

“The Douala Basin Exploration Target is a game changing milestone for Tusker, establishing genuine multi billion tonne scale within a shallow, infrastructure advantaged rutile zircon system.”

Tusker stated that the Douala Basin Project is located within approximately 40km of the Port of Douala, with access to existing road infrastructure, power, telecommunications, skilled labour and industrial services within the Douala economic corridor.

Tusker intends to undertake priority infill and step out drilling, deeper drilling below historical drilling limits, expanded mineralogical and metallurgical testwork focused on rutile, zircon and kyanite recovery, and updated geological and block modelling.

The company stated its objective is to support a maiden JORC Mineral Resource Estimate on priority zones within approximately 6 to 9 months, subject to drilling outcomes, permitting, assay turnaround and technical results.

The Douala Basin Exploration Target forms part of Tusker’s African titanium assets, which also include the Central Rutile Project in Cameroon and the Mzimba Rutile Project in Malawi.

Tusker stated that Douala Basin represents the cornerstone of its strategy to build a diversified African titanium company.