Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has extended high-grade gold mineralisation at its Dynasty Project and confirmed a kilometre-scale porphyry copper system at Linderos, as part of a milestone-packed June quarter across its Ecuadorian portfolio.
At Dynasty, drilling at Cerro Verde and Iguana returned multiple high-grade intercepts, including 7.8 metres at 2.5 g/t gold and 30.2 g/t silver from 218.2 metres at Cerro Verde and 2.6 metres at 3.5 g/t gold and 21.5 g/t silver from just 26.8 metres at Iguana.
Plan view of the Cerro Verde & Iguana prospects displaying mineral resources, conceptual pit optimisation, high priority resource drilling areas.
Meanwhile, joint venture partner Hanrine Ecuadorian Exploration and Mining SA drilled more than 4,000 metres at Linderos in the quarter to earn a 30% stake, with standout copper results such as 735 metres at 0.23% copper equivalent from 385 metres.
Dynasty drilling uncovers high-value gold targets
Titan resumed drilling at the Dynasty Gold Project in May following a weather-related pause, completing 11 holes for 3,653.5 metres during the quarter and receiving assays for several high-grade intercepts from earlier drilling phases.
Dynasty Gold Project displaying Mineral Resources, simplified interpreted geology and prospect locations.
At the Cerro Verde prospect, key results included:
- 7.8 metres at 2.5 g/t gold, 30.2 g/t silver from 218.2 metres (CVDD25-126);
- 3.7 metres at 2.9 g/t gold, 19.0 g/t silver from 293.1 metres (CVDD25-123); and
- 13.0 metres at 4.5 g/t gold, 22.1 g/t silver from 330.6 metres (CVDD24-122).
Plan view of Cerro Verde prospect zoomed into area of resource drilling focus displaying interpreted geology, drilling and latest results.
The Iguana prospect also delivered encouraging results at shallow and down-dip depths, with intercepts such as:
- 2.6 metres at 3.5 g/t gold, 21.5 g/t silver from 26.8 metres (IGDD24-041); and
- 5.4 metres at 2.3 g/t gold, 5.7 g/t silver from 49.9 metres (IGDD24-036).
The drilling campaign has refined Titan’s understanding of the Dynasty system, identifying “high value ounces” for future ore reserve conversion. A 6,000-metre drilling program focused on infill and extensional targets is now under way ahead of a resource update scheduled for Q3 2025.
Supporting this work is a 920-line-kilometre Mobile Magneto-Telluric geophysical survey covering a 9-kilometre gold and porphyry corridor, with results expected in the coming quarter.
Hanrine earns 30% at Linderos with copper system confirmed
At the Linderos Copper Project, joint venture partner Hanrine — a Hancock Prospecting subsidiary — completed its second earn-in milestone by reaching more than 10,000 metres of drilling, with 4,190 metres drilled in the June quarter, increasing its project interest to 30%.
Plan view of the Copper Ridge prospect displaying Hanrine drill collars coloured by status, drill traces coloured by geology and assay histogram (Cu%).
Drilling confirmed a large-scale porphyry copper-gold-molybdenum system over 1 kilometre of strike and depth. Assays from early holes included:
- 735 metres at 0.23% copper equivalent from 385 metres, including 51 metres at 0.37% from 622.8 metres (DHCR-02);
- 398 metres at 0.24% copper equivalent from 420 metres (DHCR-01); and
- 367 metres at 0.24% copper equivalent from 246 metres (DHCR-04).
These assays build on earlier 2023 Titan results such as 308 metres at 0.35% copper equivalent from 54 metres (CRDD22-003), confirming an open-ended porphyry system trending northwest–southeast.
Hanrine has now commenced a 15,000-metre third earn-in program to increase its stake to 51%. Additional results are expected throughout the second half of 2025.
Copper Duke exploration ramps up
At Titan’s 100%-owned Copper Duke Project, reconnaissance mapping progressed ahead of drilling planned for Q3 2025. The company also flagged upcoming work at the Copper Field Project as part of its broader copper-focused strategy in Ecuador.
Strong cash balance and corporate activity
Titan ended the quarter with US$9.1 million (A$13.8 million) in working capital. Shareholders approved the issue of performance rights and options, including 2 million performance rights to CEO Melanie Leighton, 6 million unlisted options to corporate advisors, and 4 million TTMOA options issued under an underwriting agreement.
Performance-based rights held by drilling contractor Kluane were converted to ordinary shares following the achievement of drilling milestones.
“We’ve made significant progress at our Dynasty Gold Project, successfully extending mineralisation and identifying compelling new targets with our resource drilling,” Leighton said. “At our Linderos Project… Hanrine’s drilling has confirmed a porphyry copper system of significant scale which remains open laterally and at depth.”
The company expects the September quarter to bring further drill results from Cerro Verde and Linderos, an updated resource for Dynasty, and the start of drilling at Copper Duke.