Perth, Australia – 4 November 2024 | Titan Minerals Limited (ASX:TTM) (“Titan” or “the Company”) is pleased to announce the commencement of a significant 10,000-metre diamond drilling campaign at its flagship Dynasty Gold Project in southern Ecuador. This drilling program aims to expand known mineral resources, as well as convert existing resource categories and test newly identified exploration targets across the project’s mineralised corridor.
Highlights:
-
Resource Growth Drilling Underway: The program will focus on extending resources laterally and at depth at the Cerro Verde and Iguana prospects.
-
Exploration of New Targets: The campaign will include drilling at new exploration targets identified through recent soil geochemistry, trenching, and mapping. Notably, the trench result at Iguana South of 3.0m @ 21.4 g/t Au & 14.1 g/t Ag will be a focus of the exploration drilling.
-
Discovery of New Veins: Construction of drilling platforms at Cerro Verde has unveiled new, previously unmapped veins that extend beyond current resource boundaries, enhancing the potential for further resource definition in underexplored areas.
-
Trenching Program Ongoing: The trenching program continues over newly identified soil geochemical targets, with results expected to inform further exploration drilling and refine understanding of mineralisation widths and tenors.
-
Expanded Mineralisation Footprint: The Dynasty Gold Project’s mineralised footprint now extends over 9km x 2km, significantly larger than the original 5.5km x 1km area, underscoring substantial resource growth potential.
Melanie Leighton, CEO of Titan Minerals, commented: “Our geology team are very excited to have drilling underway at Dynasty. We have three diamond drill rigs on site to test resource extensions and exciting new exploration targets discovered by systematic exploration earlier this year. The team have been working tirelessly to unveil the potential at Dynasty, and we are now in a position to confirm that potential by drilling new targets and resource extensions.
“We look forward to delivering a steady stream of drill and trench results from the Cerro Verde and Iguana prospects over the coming months, which we believe will culminate in a more robust and expanded mineral resource set to be delivered in mid-2025.
“This is an exciting opportunity for Titan, and if we are able to drill confirm the new exploration targets, this could be significant for growing the mineral inventory at Dynasty and transformation for the company.
We also have drilling soon to commence at Linderos, with drill results expected to be returned over the coming months ahead as Hanrine undertake their initial 10,000m of drilling to earn an additional 25% of the Linderos Copper Project.”
Next Steps:
The drilling program will proceed with continuous updates as trenching and drilling results are received. Titan also plans to commence a separate 10,000m drilling campaign at the Linderos Copper Project in November, funded and managed by Hanrine, a subsidiary of Hancock Prospecting, which is investing up to US$120 million in exploration and development to earn an 80% interest.
Melanie Leighton
Chief Executive Officer
melanie@titanminerals.com.au
Jane Morgan
Investor & Media Relations
jm@janemorganmanagement.com.au
About us:
About the Dynasty Gold Project:
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
