Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has intersected a fresh vein of gold in the new Julia vein system of the Papayal prospect, part of the Dynasty Gold Project in southern Ecuador.
A diamond drilling program was designed to test the continuity and depth extent of the Julia vein system, with several high-grade intersections confirming continuity to at least 60 metres of depth.
Best results from this round of drilling include 2 metres at 5.29 g/t gold and 32.4 g/t silver from 12 metres of depth and 0.4 metres at 65.5 g/t gold and 83.2 g/t silver from 81.62 metres.
Potential for further growth
“We are very pleased with results returned from our first ever drilling into the newly discovered Julia vein system at the Papayal prospect,” Titan Minerals CEO Melanie Leighton said.
“With several coherent high-grade intercepts, these fantastic results confirm our ability to define new exploration targets and further grow the substantial 3.12-million-ounce gold and 22-million-ounce silver resource at the Dynasty Gold Project.
“The geology team continues to advance mapping and surface geochemical exploration programs, having recently secured access to additional land to the south of Papayal and importantly in a completely new, highly prospective area that has never previously been explored.
“We look forward to what our mapping and surface geochemical sampling might unveil at Papayal South and we are confident that there is a significant amount of mineralisation yet to be discovered and defined at the project.
“Pre-scoping study workstreams have commenced with this work important in understanding and optimising mining method/s, mining and process throughput rates, determining potential metallurgical recoveries, while also providing a preliminary economic assessment of the current resource inventory.
“Titan has a busy year ahead with plenty of news to come as we continue to advance our flagship Dynasty Gold Project.”
Assay results
Assay results of note from the latest diamond drilling program include:
- 29 metres at 0.95 g/t gold, 33.44 g/t silver from 12 metres, including 2 metres at 5.29 g/t gold, 32.4 g/t silver from 12 metres and 3.22 metres at 2.77 g/t gold, 120 g/t silver, 3.10% lead from 28 metres;
- 5.27 metres at 3.53 g/t gold, 72.3 g/t silver from 85.81 metres, including 0.66 metres at 25.1 g/t gold, 492 g/t silver, 0.42% copper, 0.66% lead, 0.54% zinc from 88.57 metres;
- 2.02 metres at 2.98 g/t gold, 84.02 g/t silver from 75.08 metres, including 0.51 metres at 9.34 g/t gold, 275 g/t silver from 76.05 metres;
- 0.40 metres at 3.5 g/t gold, 107 g/t silver from 58.35 metres; and
- 0.40 metres at 65.5 g/t gold, 83.2 g/t silver from 81.62 metres.
Titan is now updating the 3D geological model for the Papayal and Cerro Verde prospect areas ahead of a resource update for the greater Dynasty Project.