Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) is building towards a mineral resource update at the Dynasty Gold Project in Ecuador, having confirmed surface gold mineralisation stretching over the entire 9-kilometre-long epithermal gold corridor.
The company has also expanded the Iguana prospect significantly – surface geochemical results have sketched out an area of 4 kilometres by 1.5 kilometres, up from 2.5 kilometres by 300 metres, with multiple new mineralised veins at surface.
TTM is particularly interested in Iguana South due to high-grade gold results from trenching over that area of the prospect.
The prospect produced results grading up to 3 metres at 21.4 g/t gold and 14.1 g/t silver from outside the current mineral resource of 700,000 ounces of gold and 4.8 million ounces of silver.
Strong potential to increase resource
“Our systematic exploration has dramatically increased the Dynasty mineralisation footprint, successfully identifying several new exploration and extensional targets which have the potential to provide substantial growth to the current 3.1-million-ounce gold and 22-million-ounce silver resource,” Titan Minerals CEO Melanie Leighton said.
“It’s exciting that our mapping, soil, rock chip and trench sampling efforts have proven the continuity of the gold system in previously unexplored areas, with several high-priority targets identified in new areas.”
Leighton says these latest trench results confirmed the presence of high-grade gold from surface, having tested the first of many new extensional targets to be explored.
“Trenching is underway over several exploration targets with results to assist with defining strike extents and tenor of mineralisation in these areas ahead of drilling,” Leighton continued.
“We anticipate a steady flow of results from trenching currently underway and drilling which is planned to commence in the coming weeks.
“With gold and silver prices at all-time highs, we are optimistic of a much-enhanced scenario for Dynasty with an updated resource estimate due in mid-2025.”
More exploration to come
Trenching efforts at Iguana East also produced promising results, grading up to 1.8 metres at 4.5 g/t gold and 10.6 g/t silver, again originating from outside the current resource boundary.
Titan considers these extensional trenching results at Iguana South and East to be an “excellent resource growth target” close to inferred JORC resources at Iguana.
The company says it has generated high-grade rock chips from multiple new veins coincident with geochemical anomalies that remain untested by the drill bit.
TTM will conduct further trench sampling over the new target areas, the results from which will inform a new exploration drilling program.
Titan intends to undertake up to 10,000 metres of drilling in the short term, targeting lateral and depth extensions to the existing mineral resource as well as investigating the new vein targets.
The company will undertake development workstreams for Dynasty in parallel with ongoing resource growth efforts, targeting mid-2025 for an updated mineral estimate.
In other news, Titan’s joint venture partner and Hancock Prospecting subsidiary Hanrine is preparing for a 10,000-metre drilling campaign over the Linderos Copper Project.
Read: Titan Minerals and Hancock subsidiary enter JV on Linderos Copper Project in Ecuador; US$120 million on table
The first phase of drilling will see Hanrine earn a 25% interest, with exclusive rights to increase this to 80% by spending US$120 million on the project’s exploration and evaluation.