30 January 2025 - Perth, Australia | Titan Minerals Limited (ASX: TTM) is pleased to announce a significant drilling result from the Iguana Prospect at its 100%-owned Dynasty Gold Project (South Ecuador). The latest results validate historical drilling results and highlight the potential for resource expansio, which currently hosts a 3.1Moz gold and 22Moz silver resource.
Highlights
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High-Grade Intercepts at Iguana Main Zone:
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15.5m @ 3.0 g/t Au, 22.8 g/t Ag from 89.1m downhole, including:
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6.1m @ 4.0 g/t Au, 40.1 g/t Ag (Hole IGDD24-027)
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1.7m @ 1.5 g/t Au, 271 g/t Ag from 115.0m
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Strong Results from Iguana East Extensional Drilling:
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3.0m @ 4.9 g/t Au, 11.2 g/t Ag within 9.8m @ 1.6 g/t Au, 4.4 g/t Ag from 21.8m
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2.3m @ 1.8 g/t Au, 18.4 g/t Ag from 29.8m
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2.0m @ 2.5 g/t Au, 4.2 g/t Ag from 53.2m
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Resource Expansion Underway:
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Ongoing 10,000m resource extension and infill drilling campaign
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4,600m completed; remaining 5,400m to focus on Cerro Verde and Iguana depth extensions
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Updated Mineral Resource Estimate targeted for mid-2025
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Titan Minerals CEO, Melanie Leighton, commented: “We are pleased to release the first of several batches of drill results from our 2024 Dynasty resource drilling campaign. With a substantial 3.1Moz gold and 22Moz silver resource already established at Dynasty, in 2025 we are targeting resource growth and conversion with our initial 10,000m campaign.”
“The result of 15.5m @ 3.0 g/t Au, 22.8 g/t Ag, including a higher-grade interval of 6.1m @ 4.0 g/t Au, 40.1 g/t Ag at Iguana main zone is a great result, both validating historical drilling and improving the grade of the resource in this area.”
“Drilling at Iguana east was undertaken in an area of Inferred Resources, supported by mapping and surface trenching, but never previously drilled. Pleasingly, Titan’s latest drilling has been successful in confirming the continuity of Iguana East mineralisation at depth, with review of results being undertaken before planning next drilling.”
“The drill rigs are now back in action at Dynasty, with the remaining 5,400m of resource drilling to be directed towards several lateral and depth extensional targets at Cerro Verde, in addition to three holes to test depth extensions below Iguana main zone.”
“Titan has a strong balance sheet with a $20M capital raise completed in late 2024 and strong conversion of 35c options providing further funding to facilitate resource and exploration drill programs, delivery of a Mineral Resource update and the commencement of Scoping Studies at Dynasty in 2025.”
Strong Financial Position
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$20 million capital raise (December 2024)
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Strong conversion of 35c options to additional funding
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Funds are to go towards drilling, resource updates and advancing, and Scoping Study
Melanie Leighton
Chief Executive Officer
[email protected]
Jane Morgan
Investor & Media Relations
[email protected]
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 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.
For more information, visit www.titanminerals.com.au.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]