Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has intersected shallow gold at Cerro Verde prospect within the Dynasty Gold Project in southern Ecuador, taking the company a step closer to a resource upgrade in the first quarter of 2024.
Nine diamond holes for 970 metres were completed at the prospect late last year, five to test mineralisation extensions and three to confirm continuity as well as to improve the grade of an area already contained in the mineral resource estimate (MRE).
Standout results from this drilling include:
- 3.55 metres at 2.31 g/t gold, 4.75 g/t silver from 94.15 metres;
- 7.7 metres at 1.44 g/t gold, 7.35 g/t silver from 6.30 metres, including 2.41 metres at 3.30 g/t gold, 16.35 g/t silver from 8.00 metres;
- 2.56 metres at 3.15 g/t gold, 3.58 g/t silver from 51.75 metres;
- 2.74 metres at 2.30 g/t gold, 7.40 g/t silver from 80.70 metres;
- 3.14 metres at 1.57 g/t gold, 7.65 g/t silver from 22.47 metres; and
- 2.05 metres at 2.25 g/t gold, 8.06 g/t silver from 53.60 metres.
Unlocking potential
“Completion of the first phase of resource growth drilling since publication of the Dynasty maiden JORC-compliant resource is a key step in our strategy to grow mineral resources and unlock the full potential of the Dynasty Gold project,” Titan chief executive officer Melanie Leighton said.
“We expect that the Cerro Verde resource growth drilling will result in additions of shallow extensional gold and silver mineralisation in the upcoming resource update.”
The Cerro Verde prospect has an MRE of 28.8 million tonnes grading 2.08 g/t gold, 13.00 g/t silver for 1.92 million ounces of gold and 12.04 million ounces of silver.
Cerro Verde prospect displaying mineral resource envelopes, simplified geology, drilling and recently returned results.
More to unlock
The resource drilling program completed in late 2023 included 13 diamond holes for 1,267 metres at the Papayal prospect, also within Dynasty.
Assays for the Papayal resource growth drilling are pending, but are expected in the next two weeks.
“These drill results are also set to feature in the upcoming resource update with the newly identified Julia vein system to be captured in the resource update,” Leighton said.
Additionally, land access agreements have recently been executed with several local landholders and communities, giving Titan access to new, highly prospective areas at the Papayal prospect, including several areas that have never been explored or drilled.
Next up
Exploration work is now focused on surface mapping and geochemical sampling across the broader Papayal and Trapichillo prospects, with the aim of identifying new exploration and resource extension targets.
This generative work is expected to take 2-3 months ahead of the next resource drilling campaign.
Dynasty plan view displaying mineral resources, prospect areas and geological interpretation.
“We are confident in identifying multiple new veins within the 9-kilometre epithermal corridor, having recently reached agreement to access and undertake exploration across parts of the Dynasty Project that have never previously been explored,” Leighton said.
“This represents an exciting opportunity for the company.”
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