NORTHERN ONTARIO – RANDSBURG INTERNATIONAL GOLD CORP. of Toronto has released a preliminary resources estimate for its 100%-owned Titan titanium-iron-vanadium deposit. The figures were based on 29 holes drilled during 2004 and 2005.
The Titan deposit, located in Flett and Angus townships 50 km north of North Bay, are estimated to contain 58 million tonnes of resources. The indicated resource is 40.0 million tonnes averaging 11.41% TiO2, 41.7% FeO and 1.188% V (using cut-off grades of 9.85%, 34.4% and 0.14%, respectively). A second indicated resource totals 18.0 million tonnes averaging 6.86% TiO2, 25.86% FeO and 0.092% V.
On samples from the Titan deposit, more than 96% titanium extractions were observed in two bench-scale tests of the Altairnano hydrochloride pigment (AHP) process created by ALTAIR NANOTECHNOLOGIES. This is the first new titanium dioxide pigment manufacturing process to be developed in 50 years. See Randsburg’s news release (www.RandsburgDiamonds.com) of Aug. 24, 2005, for more information. The 96% results were achieved despite the fact the samples were relatively coarse. The fact that some of the ilmenite is intergrown with magnetite did not limit the recovery of titanium dioxide.