Resource drilling by Titan Minerals Ltd at its Dynasty Gold Project in southern Ecuador has delivered impressive results as the company works to expand its existing 3.1-million-ounce gold and 22-million-ounce silver mineral resource.
Titan is undertaking a 10,000-metre resource extension and resource infill diamond drill program across the Dynasty project and late last year drilled 21 diamond drill holes for ~4,600 metres.
That drilling validated historical results and improved the grade of the existing resource, with the company reporting results that feature a standout intercept of 15.5 metres at 3.0 g/t gold and 22.8 g/t gold from 89.1 metres downhole at the Iguana prospect, including a higher-grade zone of 6.1 metres at 4 g/t gold, 40.1 g/t silver.
Dynasty Gold Project displaying mineral resources, interpreted geology, modelled epithermal veins and the collar locations of resource definition drilling completed in Q4 2024.
Drilling at Iguana East was undertaken in an area of inferred resources, supported by mapping and surface trenching, but never previously drilled. This drilling has successfully extended mineralisation down-dip from historical surface trenching.
New significant intercepts include 3.0 metres at 4.9 g/t gold and 11.2 g/t silver, within a broader intersection of 9.8 metres at 1.6 g/t gold, 4.4 g/t silver from 21.8 metres; and 2 metres at 2.5 g/t gold, 4.2 g/t silver from 53.2 metres; and 2.3 metres at 1.8 g/t gold and 18.4 g/t silver from 29.8 metres.
Dynasty Gold Project displaying mineral resources, modelled veins, exploration and resource extensional targets, previous significant trench results and drilling completed at Iguana & Iguana East prospects.
A great result
“We are pleased to release the first of several batches of drill results from our 2024 Dynasty resource drilling campaign,” Titan CEO Melanie Leighton said.
“With a substantial 3.1-million-ounce gold and 22-million-ounce silver resource already established at Dynasty, in 2025 we are targeting resource growth and conversion with our initial 10,000-metre campaign.
“The result of 15.5 metres at 3.0 g/t gold, 22.8 g/t silver, including a higher-grade interval of 6.1 metres at 4.0 g/t gold, 40.1 g/t silver at Iguana main zone is a great result, both validating historical drilling and improving the grade of the resource in this area.
“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.
Drilling continues
After a short break for Christmas, four diamond drill rigs are now back operating at the Cerro Verde and Iguana prospects. The remaining ~5,400 metres of drilling is expected to be completed by late March 2025.
Leighton said, “The drill rigs are now back in action at Dynasty, with the remaining 5,400 metres 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 boasts a strong balance sheet, with a capital raise of $20 million in December 2024 and strong conversion of 35c options providing funding for drilling, delivery of an updated mineral resource and completion of a scoping study for Dynasty in 2025.