Resource definition diamond drilling at Titan Minerals Ltd (ASX:TTM, OTC:TTTNF)'s 100%-owned Dynasty Gold Project (Dynasty) in southern Ecuador continues to support a potential upgrade to the resource classification ahead of a Mineral Resource update planned for Q1 2026.
The current drilling campaign is focused on the Brecha-Comanche and Kaliman targets within the Cerro Verde prospect. The program is designed to rapidly grow the resource base by targeting extensive zones of porphyry and breccia-hosted gold-silver ± copper mineralisation, with recent results demonstrating the success of this approach.
Cerro Verde plan view showing the Brecha-Comanche and Kaliman targets, latest significant drill intercepts, drill traces and gold isosurfaces and reference lines for A-A’ and B-B’ cross sections and C-C’ long section.
Infill drilling at Brecha-Comanche has confirmed the interpreted position and tenor of vein-hosted mineralisation. Significant infill results include:
CVDD25-169
- 16.6 metres at 3.8 g/t AuEq¹ from 118.3 metres, including 3.1 metres at 4.9 g/t AuEq from 127 metres; and
- 11.9 metres at 1.4 g/t AuEq from 174.1 metres.
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- 9.9 metres at 1.9 g/t AuEq from 19.6 metres, including 3.3 metres at 5.2 g/t AuEq from 24.5 metres; and
- 10.8 metres at 4.2 g/t AuEq from 67.8 metres, including 4.1 metres at 9.3 g/t AuEq from 73.4 metres.
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- 30.0 metres at 1.5 g/t AuEq from 78.0 metres, including 3.4 metres at 6.4 g/t AuEq from 83.6 metres; and
- 6.0 metres at 1.8 g/t AuEq from 198.0 metres.
Brecha-Comanche schematic cross section A-A’ looking northeast showing latest significant drill intercepts, drill traces (Au g/t), interpreted breccia- epithermal vein hosted gold mineralisation extents and conceptual pit optimisation (US$3,000/oz).
“We are pleased to deliver more high-grade results from the Brecha-Comanche target, where our infill and extensional drilling have validated our geological modelling, further confirming the predictability of the epithermal vein system,” Titan CEO Melanie Leighton said.
“We have 3,000m of drilling remaining in the current resource program, which will take total metres drilled since the previous resource to 26,000m. The previous resource estimate was based upon 63,000m of drilling, so a substantial amount of drilling has been completed to support a robust resource update in early 2026.
“It’s important to note that the Kaliman porphyry mineralisation remains open along strike and at depth. This means that additional drilling beyond the current resource program will likely be directed toward understanding the Kaliman porphyry extents. This additional drilling will kick-off in January 2026 and will be key in defining additional bulk resources at Dynasty, that will ultimately inform the project scale and infrastructure layout.”
Strike extensions at Brecha-Comanche have been confirmed by extensional drilling, with these areas to be included in the forthcoming Mineral Resource update. Significant results include:
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- 13.6 metres at 1.3 g/t AuEq from surface, including 3.5 metres at 2.7 g/t AuEq from 1.9 metres;
- 3.0 metres at 6.3 g/t AuEq from 37 metres; and
- 7.8 metres at 1.9 g/t AuEq from 207.3 metres.
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- 3.1 metres at 1.6 g/t AuEq from 79.5 metres; and
- 29.4 metres at 0.7 g/t AuEq from 98.5 metres, including 1.8 metres at 5.2 g/t AuEq from 126 metres.
Brecha-Comanche schematic cross section B-B’ looking northeast showing latest extensional significant drill intercepts, drill traces (Au g/t), interpreted breccia-epithermal vein hosted gold mineralisation extents and conceptual pit optimisation (US$3,000/oz). Note multiple drill traces highlighting extensive mineralisation in the newly defined porphyry hosted gold mineralisation at the Kaliman target to the southeast of Brecha-Comanche.
Strategic interest from Lingbao
Lingbao, which recently acquired a 9.9% shareholding in Titan Minerals, is undertaking a second visit to Dynasty and will also inspect infrastructure and operating mines in the region.
Lingbao is continuing its due diligence as the parties advance discussions towards a potential project-level transaction for the Dynasty Gold Project.
Dynasty – next steps
Work completed, underway and planned over the coming months includes:
- An 8,000-metre resource diamond drilling program is nearing completion at the Cerro Verde prospect, which currently hosts almost two-thirds of the Dynasty resource (1.9 million ounces of gold and 12 million ounces of silver). Four diamond rigs are operating, with the remaining ~3,000 metres scheduled for completion in mid-to-late December.
- The updated Dynasty MRE is scheduled for Q1 2026, supported by extensional drilling at the Brecha-Comanche West and Kaliman porphyry targets.
MRE update workstreams
- Independent resource geologists from Entech Mining have completed a site visit to the Dynasty Gold Project and inspected the ALS sample preparation laboratory in Quito, Ecuador.
- Review and feedback on the Dynasty geological and mineralisation 3D models have been provided, with real-time updates being incorporated as new drilling results are received.
- Interim resource work is underway, including investigations into estimation techniques to appropriately capture high-grade veins, alteration halos and stockwork-style mineralisation, with the aim of optimising grade estimation for upcoming mine studies.
- Infill drilling is being carried out to upgrade the classification of Cerro Verde resources, with a focus on maximising indicated resources to support a potential future Ore Reserve.
Study and testwork continues
- A preliminary tailings storage facility (TSF) and waste dump options study has been completed by Knight Piésold, identifying several viable locations within Titan’s landholding at the Dynasty Project.
- Preliminary metallurgical testwork on representative composite samples has returned high overall gold recoveries of 85–88% for oxide ore and 91% for fresh/sulphide ore using conventional processing routes, with further scope to optimise the flowsheet and improve recoveries in future programs.
- Environmental baseline studies are being conducted across the Dynasty Gold Project on a biannual basis as part of ongoing environmental compliance. Routine monitoring of soil, water, stream sediment, noise and air quality is underway. These studies will contribute to the environmental documentation required for a future large-scale mining permit application for the Dynasty Project.
- Mine optimisation studies are scheduled to commence following delivery of the updated MRE in Q1 2026. Titan has engaged mine engineering consultancy Orelogy to undertake mine planning studies for the project. A conceptual pit shell has already been optimised on the basis of the 2023 MRE using a gold price of US$1,850/oz, and this work will be updated to reflect the new resource and revised long-term gold and silver pricing assumptions.
Drilling activities will pause briefly over the Christmas period to allow outstanding assays to be received and incorporated into the forthcoming MRE.
The pause will also provide time for Titan’s technical team to review all available data and design further drilling to test extensions of the Kaliman porphyry and assess potential bulk resource additions.