Perth, Australia – 15 October 2024 | Titan Minerals Limited (ASX: TTM) ("Titan" or "the Company") is pleased to announce the discovery of high-grade gold in new extensional trenches at its wholly-owned Dynasty Gold Project in southern Ecuador. Recent trenching and surface geochemical sampling confirm the presence of high-grade gold-silver veins, extending the mineralisation footprint at the Iguana prospect.
Highlights:
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Exceptional Trenching Results: New trenching at Iguana South has returned an outstanding intercept of 3.0m @ 21.4 g/t Au & 14.1 g/t Ag, confirming a high-grade vein that has never been drill-tested. Additional trench results include:
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1.8m @ 4.5 g/t Au & 10.6 g/t Ag at Iguana East, further expanding the mineralisation footprint beyond the current resource areas.
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Significant Mineralisation Expansion: The Iguana prospect’s mineralisation footprint has increased to 4km x 1.5km, significantly larger than the previously defined 2.5km x 300m area. New veins have been discovered at surface, supporting the potential for further resource growth.
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10,000m Drilling Campaign Set to Begin: Titan is set to commence a 10,000-metre drilling program targeting both lateral and depth extensions at Dynasty, with multiple new exploration targets to be tested.
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Development Pathway: Resource growth and conversion workstreams are being fast-tracked, with a resource update planned for mid-2025 to coincide with ongoing development studies.
Melanie Leighton, CEO of Titan Minerals, commented: “Our efforts this year have been focussed on unveiling the opportunity within large unexplored gaps in the 9-kilometre epithermal corridor at Dynasty. Our systematic exploration has dramatically increased the Dynasty mineralisation footprint, successfully identifying several new exploration and extensional targets which have the potential to provide substantial growth to the current 3.1Moz gold & 22Moz silver resource.”
“It’s exciting that our mapping, soil, rock chip and trench sampling efforts have proven the continuity of the gold system in previously unexplored areas, with several high priority targets identified in new areas. These latest trench results have confirmed the presence of high-grade gold from surface in the first of many new extensional targets to be tested. Trenching is underway over several exploration targets, with results to assist with defining strike extents and tenor of mineralisation in these areas ahead of drilling.”
“We anticipate a steady flow of results from trenching currently underway and drilling which is planned to commence in the coming weeks. With gold and silver prices at all time highs, we are optimistic of a much enhanced scenario for Dynasty with an updated resource estimate due in mid-2025.”
Expansion of Mineralisation at Iguana:
The Iguana prospect, part of the Dynasty Gold Project, has historically demonstrated robust gold-silver mineralisation. Recent exploration efforts, including trenching and rock chip sampling, have unveiled new veins at surface with high gold grades. Mapping and trenching have confirmed multiple high-priority targets, which will inform the upcoming drilling program. The resource growth potential at Iguana is expected to contribute significantly to the Dynasty Project’s 3.1Moz gold and 22Moz silver Mineral Resource.
Next Steps:
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Drilling Program: Titan will begin a 10,000m drilling campaign in the coming weeks, targeting both new exploration areas and extensions of the existing resource.
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Development Workstreams: Titan will advance pre-feasibility studies, with a focus on optimising the Dynasty Project’s development potential.
Melanie Leighton
Chief Executive Officer
melanie@titanminerals.com.au
Jane Morgan
Investor & Media Relations
jm@janemorganmanagement.com.au
About us:
About Titan Minerals Limited:
Titan Minerals Limited is an Australia-based copper and gold project developer company. The Company is focused on exploring and developing Tier One projects in Ecuador's southern Andean copper-gold belt. The Company's projects include Dynasty Gold Project, Copper Duke Project, and Linderos Project. The Company's Dynasty Gold Project is located approximately 25 kilometres (km) north of the Peruvian border. The Copper Duke is an early-stage exploration project located approximately 18 km east of the Company’s wholly owned Dynasty gold. The Copper Duke Project is comprised of 13 concessions totaling 130 square kilometres (km2) in the Loja Province in southern Ecuador. The Lineros project is located approximately 20 km southwest of its flagship Dynasty Gold Project where drilling for resource estimation update is underway, and is comprised of four contiguous concessions totaling approximately 143 km2 located near the Peruvian border in southern Ecuador's Loja Province.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au
