Titan Minerals Discovers New Shallow Gold and Silver Mineralisation at Dynasty
ASX:TTM – Titan Minerals Limited (Titan or the Company) is pleased to report the discovery of new shallow mineralisation at its wholly owned Dynasty Gold Project in southern Ecuador, as part of its ongoing 10,000m resource drilling program. The results significantly enhance the potential for resource growth at the project, with multiple high-grade intercepts returned from recent drilling at the Iguana prospect.
Significant Results Uncovered
Recent diamond drilling has identified previously untested zones of mineralisation, confirming extensions both near surface and at depth:
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IGDD24-041:
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2.6m @ 3.5 g/t Au, 21.5 g/t Ag from 26.8m
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3.7m @ 2.5 g/t Au, 9.9 g/t Ag from 92.9m
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IGDD24-036:
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5.4m @ 2.3 g/t Au, 5.7 g/t Ag from 49.9m
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2.3m @ 2.7 g/t Au, 5.9 g/t Ag from 212.1m
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The intercepts from IGDD24-041 are particularly encouraging, as they confirm three mineralised veins at shallow depths in a previously undrilled area to the south of Iguana East. This discovery highlights the potential for rapid, shallow resource growth just beneath surface.
IGDD24-036 has extended mineralisation a further 50m below previous drilling, validating historic data and likely contributing to a future resource upgrade in the area.
Drilling Progress and Updated Geological Model
To date, 31 holes totalling 7,970 metres have been drilled out of the planned 10,000m program. Results have been received for 25 holes, with assays pending for the remaining six. Titan has also updated its 3D geological model to incorporate the latest data, which will inform a planned resource update.
Operational Outlook
Heavy rainfall in March temporarily suspended field activities. Drilling is scheduled to resume in late April, with an acceleration of activity planned to complete the remaining program.
CEO Comments
“We are pleased to deliver further extensional results from Iguana resource drilling which has confirmed shallow extensional resources in new areas. In fact, results returned from IGDD24-041 were both wider and higher grade than that returned from trenches at surface, which bodes well for targeting additional shallow resources, just below the surface at Iguana.”
“Despite a slowdown in drilling activities due to weather conditions, the geology team have used this time to clear the decks, review latest drill results, and in doing so have identified new targets that are set to be drill tested when drilling recommences in the coming two weeks.”
“Titan has a strong balance sheet with a clear runway to accelerate resource and exploration drill programs at Dynasty, while JV & Earn-in Partner, Hancock Prospecting, undertake a 10,000m porphyry copper drilling program at the Linderos Project to earn a 25% interest in the project.”
“We look forward to delivering exciting news on multiple fronts in the coming weeks ahead across our portfolio of large-scale gold and copper projects.”
Next Steps
With new targets identified, and assays pending from Cerro Verde, Titan remains focused on delivering resource growth at Dynasty and progressing its broader portfolio of gold and copper assets in Ecuador. Further updates are anticipated as assay results become available and drilling resumes.
About us:
About the Dynasty Gold Project
The Dynasty Gold Project is an advanced exploration-early resource stage project comprising five contiguous concessions and is 139km² in area. Three of these concessions received Environmental Authorisation in 2016 and are fully permitted for all exploration and small-scale mining activities.
Exploration work at the Dynasty Gold Project has outlined an extensive zone of epithermal mineralisation over a nine-kilometre strike extent. There is also considerable potential for porphyry copper mineralisation as identified by surface mapping, trenching and drilling at the Kaliman prospect and by surface geochemistry and mapping at the Cola and Gisell prospects.
Contact details:
Contact details:
Melanie Leighton – Chief Executive Officer
E: [email protected] | Ph: +61 8 6555 2950
Jane Morgan – Investor & Media Relations
E: [email protected] | Ph: +61 405 555 618