BPL has built a substantial portfolio of Heavy Mineral Sands (HMS; titanium & zirconium) projects within the world-class Murray Basin. BPL’s Mineral Sands business model involves applying low capex/low opex mobile, modular mining technology to develop and operate multiple smaller mining operations across a broad project area.
BPL currently has largest tenement holding in the Murray Basin with exploration titles covering approximately 7,300km2 in New South Wales, Victoria and South Australia. Additional tenement applications and potential project acquisitions under review will continue to position the Company to take advantage of improving market conditions.
The Company’s tenements are favourably located near key infrastructure and contain multiple parallel mineralised strandlines which persists up to 15km in strike in some areas with overburden varying between 5–20m in thickness.
Extensive historical data collection (60,000 drill holes for 2 million meters of drilling in NSW, VIC, and SA) has supported detailed prospectivity analysis and area selection which highlighted several opportunities along strike from the Company’s established tenement holdings in NSW. The project areas are in proximity to essential infrastructure — including work force and transportation networks.
The Company is entering a new era of Murray Basin HMS exploration targeting multiple high-grade shallow strandline deposits with high value mineral assemblage. The next stage of BPL’s exploration workplan will see the recently acquired tenement areas undergo historical data validation and geological modelling as was applied to the Jaws and Gilligans deposits in NSW. That work led to the estimation of Inferred resources of 113 Mt at 1.8% heavy mineral (HM) at a cut-off of 1% HM (10th August 2017).
The exploration strategy also involves the drill testing of high priority targets followed by a review of exploration priorities considering critical economic parameters (including deposit size and location, heavy mineral grade, mineral assemblage, depth of overburden). Industry standard technical studies will evaluate project economics.
Market confidence remains high with sustained Titanium pigment price increases in past 18 months.