Sydney, Australia – 18 September 2024 | Titan Minerals Limited (ASX: TTM) is pleased to announce the signing of a landmark binding agreement with Hanrine Ecuadorian Exploration and Mining S.A., a wholly owned subsidiary of Hancock Prospecting Pty Ltd. This transformative deal positions Titan Minerals to significantly expand its Linderos Project in Southern Ecuador.
The agreement enables Titan Minerals to earn up to a 75% interest in the prospective Linderos Copper-Gold Project through an earn-in and joint venture structure. With this strategic partnership, Titan gains access to both the exploration expertise and resources of one of Australia's most reputable mining investors, Hancock Prospecting.
Titan Minerals’ Managing Director, Melanie Leighton, commented: “We are very pleased to have entered into formal binding arrangements with Hanrine for the Linderos Copper Project. The JV & earn-in agreement represents endorsement of what we believe is an exciting early-stage porphyry copper-gold discovery.
“We are well advanced in our technical discussions with Hanrine who are ready to commence exploration activities at the Linderos Copper Project, with expansion of the camp being the first task on the priority list to ensure seamless and efficient operations once drilling commences.
“We are pleased to be partnering with Hanrine, who have a well-established team in-country with the technical capability and financial capacity for us to mutually benefit from exploration success alongside contribution to the economy of Ecuador. We look forward to providing further updates on logistics and exploration activities as we prepare for commencement of the initial 10,000 metre drilling campaign at Linderos.”
The Linderos Project is a high-grade copper-gold system that has shown promising exploration results to date. This agreement will accelerate the development timeline, advancing both exploration and potential production in this highly prospective copper-gold district.
Hanrine is renowned for its commitment to sustainable mining practices, and this collaboration ensures that both parties will work towards the responsible development of the Linderos Project. Hancock Prospecting, led by Gina Rinehart, is one of Australia’s largest private mining companies and has a long history of successful mining ventures.
About us:
About Titan Minerals Limited:
Titan Minerals is an ASX-listed minerals explorer and developer, focused on building a highly prospective portfolio of projects in Ecuador. With a commitment to creating value for shareholders, Titan is advancing several key projects with a focus on gold and copper exploration.
For more information, please visit https://www.titanminerals.com.au/
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au
