Perth, Australia – Titan Minerals Limited (ASX: TTM) (“Titan” or the “Company”) is pleased to announce further outstanding results from ongoing resource definition drilling at its 100%-owned Dynasty Gold Project in southern Ecuador, with wide, high-grade gold and silver intercepts returned from shallow depths.
The latest drill results continue to expand the known resource limits, with highlights from drillhole CVDD24-141 including:
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31.6m @ 2.2 g/t Au, 5.4 g/t Ag from 70.9m, including:
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8.8m @ 3.8 g/t Au, 10.6 g/t Ag from 79.6m
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4.5m @ 3.2 g/t Au, 4.7 g/t Ag from 95.4m
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18.1m @ 1.4 g/t Au, 2.9 g/t Ag from 145m, including:
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2.4m @ 3.6 g/t Au, 4.1 g/t Ag from 146.8m
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1.7m @ 3.0 g/t Au, 6.3 g/t Ag from 153.8m
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2.4m @ 3.2 g/t Au, 4.5 g/t Ag from 160.0m
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23m @ 1.4 g/t Au, 5.4 g/t Ag from 173m, including:
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8m @ 2.6 g/t Au, 12.1 g/t Ag from 183m
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4.3m @ 2.1 g/t Au, 6.1 g/t Ag from 274.6m, mineralised to end of hole
The results come from the Cerro Verde prospect, where three diamond drill rigs are targeting resource conversion through infill drilling in areas previously classified as waste in conceptual pit studies. This approach is already confirming additional near-surface mineralisation, with strong potential to grow the resource base and improve future mine optimisation and strip ratios.
Titan’s CEO Melanie Leighton commented:
“It is pleasing to deliver these exceptional drill results in proximity to our current resource, as we continue to define extensions to mineralisation, which augers well for our early development studies at Dynasty.”
“To be the 100% owner of such a substantial and growing multi-million-ounce gold-silver project puts Titan in the box seat amongst our junior ASX peers. We have 3 drill rigs churning at Dynasty, while our JV partner, Hancock Prospecting, is busy drill defining large-scale copper porphyry mineralisation at our Linderos Project. We believe that Hancock’s exploration work at Linderos can be a potential game changer for the Company.”
“We have seen a significant increase in foreign investment in Ecuador in recent months, and Titan believes that an exciting period of value creation lies ahead for our shareholders.”
Ongoing Growth Strategy
The Cerro Verde prospect currently hosts nearly two-thirds of the Dynasty’s 3.1Moz gold resource. Mineralisation has been defined from surface to ~400 metres depth, with further down-plunge and down-dip targets now being tested.
The current 6,000m drilling campaign is on track for completion within three months, with results to be incorporated into an upcoming Mineral Resource Estimate update. Specialist resource consultants from Entech Mining will visit the project in August as part of the due diligence process.
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:
Jane Morgan – Investor & Media Relations
E: [email protected] | T: +61 405 555 618