Titan Minerals Ltd has intersected new shallow gold and silver mineralisation at its 100%-owned Dynasty Gold Project in southern Ecuador, supporting its strategy to expand the project's 3.1 million ounce (Moz) gold and 22 Moz silver Mineral Resource.
At the Cerro Verde prospect, hole IGDD24-041 returned encouraging mineralisation, including:
- 2.6 metres at 3.5 grams per tonne (g/t) gold and 21.5 g/t silver from 26.8 metres; and
- 3.7 metres at 2.5 g/t gold and 9.9 g/t silver from 92.9 metres.
Drilling at the Iguana prospect confirmed down-dip extensions to existing mineralisation. Notable intercepts from hole IGDD24-036 included:
- 5.4 metres at 2.3 g/t gold and 5.7 g/t silver from 49.9 metres; and
- 2.3 metres at 2.7 g/t gold and 5.9 g/t silver from 212.1 metres.
Encouraging growth potential at Iguana
Titan CEO Melanie Leighton said the drilling had identified new areas of mineralisation with strong upside potential. “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.”
So far, Titan has completed 31 holes for 7,970 metres, with assay results received for 25 holes.
Results from the remaining six are expected in the coming fortnight. The updated three-dimensional geological model for Dynasty will support a forthcoming resource update.
Read:Titan Minerals reports high gold recoveries from initial Dynasty metallurgical testwork
Iguana prospect displaying interpreted geology, modelled veins, resources, resource extensional targets, trenching and drilling completed and latest significant drill intercept
Weather delays prompt reassessment and targeting
Drilling activities were temporarily suspended in March due to heavy rainfall. However, the break allowed the geological team to advance internal modelling and define new exploration targets.
“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,” Leighton said.
Multiple growth catalysts across gold and copper portfolio
Titan remains well-funded to pursue exploration at Dynasty while joint venture and earn-in partner Hancock Prospecting advances a 10,000-metre porphyry copper drilling program at the Linderos Project to earn a 25% interest.
“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,” Leighton added.
“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.”
Titan Minerals southern Ecuador Projects, peer deposits and surrounding infrastructure