Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has reported another broad porphyry copper intersection from the Linderos Copper Project in Ecuador, where Hancock Prospecting subsidiary Hanrine has now earned a 51% interest after meeting a US$20 million expenditure commitment.
The standout result from the Copper Ridge prospect was:
- 700.4 metres at 0.36% copper equivalent from 270.3 metres, including 20 metres at 0.82% copper equivalent and 164.8 metres at 0.52% copper equivalent in drill hole DHCR-15.
A second hole returned 302.3 metres at 0.32% copper equivalent from 197.1 metres, including 102.3 metres at 0.37% copper equivalent.
Titan's drilling had confirmed a porphyry copper system extending for more than one kilometre along strike and to a depth of about one kilometre, with mineralisation remaining open laterally to the south and at depth.
Long section looking west, displaying drill traces coloured by Cu% and Au ppm (red histogram).
Hancock reaches 51% ownership
Hanrine has completed the third milestone under its joint venture and earn-in agreement after spending US$20 million at Linderos in less than two years, well ahead of the permitted seven-year timeframe.
Titan will receive a US$1 million cash payment once the administrative transfer of the 51% mineral concession interest is completed.
Titan retains a 49% stake and will remain free-carried until Hanrine completes the final earn-in milestone, which requires either a decision to mine or aggregate expenditure of US$120 million.
Completion of that milestone would lift Hanrine’s ownership to 80%.
Titan chief executive Melanie Leighton said Hanrine had rapidly advanced drilling and exploration activities since taking over management of the project.
“Hanrine have earned 51% ownership in Linderos while Titan retain 49% ownership of Linderos and are free-carried until Hanrine reach 80% ownership,” she said.
Copper Ridge system remains open
Hanrine has completed 18 diamond holes for about 17,800 metres since drilling began in November 2024, bringing total drilling across the Copper Ridge and Meseta prospects to 45 holes for around 23,920 metres.
The latest work indicates that stronger copper mineralisation is associated with a potassic-altered diorite porphyry unit in the southern part of Copper Ridge.
Titan's higher-grade geological setting remained largely untested, providing scope to extend the known mineralised footprint.
Three priority areas have been identified for follow-up drilling to the south, northeast and northwest of the current drill coverage.
About the Linderos project
Linderos comprises four contiguous concessions covering 143 square kilometres in southern Ecuador’s Loja Province, around 20 kilometres southwest of Titan’s flagship Dynasty Gold Project.
The project sits within a prospective Andean mineralised corridor extending from Peru through Ecuador and hosts both porphyry copper and epithermal gold targets.
Titan’s broader Ecuadorian portfolio also includes the Dynasty Gold, Copper Duke and Copper Field projects.
