Randsburg cuts extensive iron at Titan

Vancouver – Broad intercepts of iron, titanium and vanadium mineralization were encountered in drilling by Randsburg International Gold (RGZ-V, RBGDF-O) on its Titan project located 50 km north of North Bay, Ontario.

Over 900 metres of core from three vertical drill holes sampled iron-rich mineralization. Hole 11, located on the western portion of the drill program, intersected 197 metres (essentially from surface) grading 40.5% Fe₂O₃ (iron oxide), 11.9% TiO₂ (titanium dioxide) and 0.19% V (vanadium). The bottom 46 metres of the hole averaged 57.5% Fe₂O₃, 18% TiO₂ and 0.29% V. Resultantly, the hole is being deepened to 400 metres. In addition, a 2-metre intersection from 132 to 134 metres depth returned 0.4 gram platinum per tonne.

Hole 12, collared on the eastern portion of the drill program, cut 198 metres (again, essentially from surface) grading 26.2% Fe₂O₃, 6.3% TiO₂ and 0.09% V, and is also being deepened to 400 metres.

Hole 13, drilled to the rig-limit of 535 metres depth, was mineralized over the entire core length. The hole encountered 284 metres of higher-grade material from 224 to 508 metres depth averaging 45.3% Fe₂O₃, 13.9% TiO₂ and 0.23% V.

Drilling continues to demonstrate consistency of grade in the Titan deposit. Iron-titanium mineralization trends northwest-southeast and appears to plunge southeasterly.

Randsburg has drilled over 20 holes on the project in its current program and also recently completed hydrometallurgical testing of magnetite-ilmenite material from Titan, showing successful extraction of over 95% of titanium in two bench scale tests using drill core samples.

The project saw extensive historical work, including drilling, through the 1940s and 1950s that led to a resource estimate of about 127 million tonnes averaging 49.4% Fe₂O₃ (34.6% Fe) and 15.6% TiO₂, which predates National Instrument 43-101. Essentially all of the Randsburg’s drilling has been outside the area of historical work, identifying extensive additional mineralization.

The company is also looking to test the footwall contact of the iron-titanium bearing body, to ascertain any layering or cumulate structures that may be prospective for platinum group metals.