Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has delivered a substantial upgrade to the mineral resource at its 100%-owned Dynasty Gold Project in southern Ecuador, lifting contained gold by 25% to 3.9 million ounces (Moz) and silver by 19% to 26.1Moz
The updated mineral resource estimate (MRE) now stands at 65.6 million tonnes at 1.85 g/t gold and 12.38 g/t silver, reflecting the impact of an extensive drilling campaign completed over the past year.
Dynasty Gold Project Combined Total Mineral Resource Estimate reported by deposit area.
The increase is largely driven by growth at the Cerro Verde deposit, where resource expansion and infill drilling have confirmed strong continuity at depth and defined additional zones of mineralisation.
Cerro Verde drives resource growth
Cerro Verde now hosts 50.8 million tonnes (Mt) at 1.66 g/t gold and 9.89 g/t silver for 2.7Moz of gold and 16.2Moz of silver, accounting for the bulk of the project’s total resource.
Drilling has expanded mineralisation at both the Brecha-Comanche epithermal system and the Kaliman porphyry prospect, with the latter highlighting the presence of broader, lower-grade mineralisation alongside higher-grade vein systems.
The update adds around 780,000 ounces of gold and 4.1 million ounces of silver compared to the previous 2023 estimate, marking a significant step forward in defining the scale of the project. The updated resource remains weighted toward Inferred material, with around 17.4Mt classified as Indicated and 48.2Mt as Inferred, highlighting scope for further drilling to upgrade confidence levels.
Dynasty Gold Project Combined Total Mineral Resource Estimate reported by resource categorisation.
Titan CEO Melanie Leighton said the result reflects a focused and cost-efficient drilling program.
“We are very pleased to have delivered substantial growth at the Dynasty Gold Project, with an increase of 25% in contained gold ounces from the previous July 2023 MRE,” she said.
Open at depth and along strike
Importantly, mineralisation across the Dynasty project remains open both laterally and at depth, with further drilling set to begin imminently targeting additional resource growth and conversion.
Recent drilling has also improved geological understanding, demonstrating strong predictability of mineralisation and reinforcing confidence in the broader system.
The Cerro Verde resource extends from surface over a roughly 2-by-1.7-kilometre area and down to depths of about 670 metres, supporting both open pit and potential underground mining scenarios.
Long section looking northeast (300m viewing window), showing classified resource blocks coloured by gold (Au g/t), pit optimisation used to constrain MRE reporting (open pit reported > 0.5 g/t Au, below pit MRE reported > 1.5 g/t Au).
Notably, around 47% of the Cerro Verde resource sits within 100 metres of surface, highlighting the potential for near-term, shallow mining opportunities.
Pathway to development studies
The updated MRE is expected to underpin upcoming scoping studies, with the resource now considered sufficient to advance development planning.
The project is already permitted for small-scale mining across three concessions, allowing for potential production of up to around 1 million tonnes per annum under the current framework.
Oxide material makes up around 27% of the Cerro Verde resource and is considered amenable to conventional processing, potentially providing a pathway to early, lower-cost production.
Meanwhile, the larger sulphide component supports longer-term development through more complex processing routes.
Building on recent drilling success
The latest resource upgrade builds on Titan’s recent exploration momentum at Dynasty, including strong and identified porphyry-hosted gold systems across the project.
With a 30,000-metre drilling campaign planned, the company is targeting further resource growth as well as upgrading inferred material into higher-confidence categories to support future feasibility work.
As drilling resumes, Titan is aiming to continue expanding what is shaping up as a large-scale gold-silver system in a well-established mining region of southern Ecuador.
Titan Minerals Ltd CEO Melanie Leighton recently spoke with Proactive about drilling results from the Kaliman target highlighting wide zones of gold, silver and copper mineralisation:
