Perth, Australia – 29 November 2024 | Titan Minerals Limited (ASX:TTM) (“Titan” or “the Company”) is pleased to announce the discovery of more high-grade gold mineralisation in extensional areas at its flagship Dynasty Gold Project in the south of Ecuador. The latest trenching results have confirmed the significant potential for resource growth beyond the current Mineral Resource with 3.1Moz gold and 22Moz silver.
Highlights:
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New High-Grade Trench Results:
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Cerro Verde East and South:
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2.1m @ 32.0 g/t Au & 7.4 g/t Ag in CVC24-056- Extensional/ New
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2.0m @ 7.3 g/t Au & 6.1 g/t Ag in CVC24-072- Extensional/ New
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6.0m @ 1.8 g/t Au, 23.6 g/t Ag in CVC24-054- Extensional/ New
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4.7m @ 3.6 g/t Au & 23.1 g/t Ag in CVC24-063- Confirmatory
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Iguana East:
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3.3m @ 1.5 g/t Au & 3.2 g/t Ag in IGT24-010- Extensional/ New
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5.1m @ 1.4 g/t Au & 7.4 g/t Ag in IGT24-016- Extensional/ New
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Ongoing Exploration Success:
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Recently announced results include 3.0m @ 21.4 g/t Au & 14.1 g/t Ag at Iguana South and 5m @ 5.0 g/t Au & 20.6 g/t Ag at Tomahawk.
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Multiple newly identified high-grade targets remain open along strike.
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Advancing Drilling Program:
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A 10,000m diamond drilling campaign is currently underway, with three rigs in operation across the two sites.
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Drill results are expected in the coming weeks (and will feed into an updated Mineral Resource Estimate targeted for mid-2025).
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Speaking about the results, Melanie Leighton, Chief Executive Officer of Titan Minerals, stated: “It’s pleasing that trenching in new areas outside current Mineral Resources has continued to deliver strong results, with the latest result of 2m @ 31.96 g/t Au, 7.38 g/t Ag returned from an extensional area ~ 40m along strike from Inferred Resources at Cerro Verde. Not only will latest results assist in extending the resource along strike, but they will also assist with improving classification given the strong lateral continuity of mineralisation.”
“Gold mineralisation at Dynasty outcrops at surface, lending itself to trenching as a rapid and low-cost method for defining the width and tenor of mineralisation in areas. Additional trenches are being developed over priority areas, with a steady flow of results expected in the weeks ahead and several targets set to be tested as part of the ~ 10,000m drilling campaign currently underway at Dynasty.”
“Resource extensional and infill drilling is progressing well, with 3 diamond drill rigs currently in operation and several holes now completed with samples sent to the lab for analysis. We expect drill results to be returned within the coming 1-2 weeks, with results to feed into the Dynasty resource update planned for mid-2025”
Corporate Update:
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Strengthened Financial Position: The exercise of 9.48 million options post-quarter end generated over A$3.3 million, enabling the Company to fully repay their A$1.5 million loan.
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Expanding Opportunities: A further 12.21 million options remain exercisable by 31 January 2025, providing potential additional funding for exploration activities.
For further information, please contact:
Melanie Leighton
Chief Executive Officer
melanie@titanminerals.com.au
Jane Morgan
Investor and Media Relations
jm@janemorganmanagement.com.au
About us:
About Titan Minerals:
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 kilometers (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 kilometers (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
