Titan Minerals Limited (“Titan”) is pleased to announce the discovery of more high-grade gold mineralization in extensional areas at its flagship Dynasty Gold Project in the south of Ecuador. The latest trenching results have confirmed the significant potential for resource growth beyond the current Mineral Resource with 3.1 Moz gold and 22 Moz silver.
Highlights:
- New High-Grade Trench Results:
- Cerro Verde East and South:
- 2.1 m @ 32.0 g/t Au & 7.4 g/t Ag in CVC24-056- Extensional/ New
- 2.0 m @ 7.3 g/t Au & 6.1 g/t Ag in CVC24-072- Extensional/ New
- 6.0 m @ 1.8 g/t Au, 23.6 g/t Ag in CVC24-054- Extensional/ New
- 4.7 m @ 3.6 g/t Au & 23.1 g/t Ag in CVC24-063- Confirmatory
- Iguana East:
- 3.3 m @ 1.5 g/t Au & 3.2 g/t Ag in IGT24-010- Extensional/ New
- 5.1 m @ 1.4 g/t Au & 7.4 g/t Ag in IGT24-016- Extensional/ New
- Ongoing Exploration Success:
- Recently announced results include 3.0 m @ 21.4 g/t Au & 14.1 g/t Ag at Iguana South and 5 m @ 5.0 g/t Au & 20.6 g/t Ag at Tomahawk.
- Multiple newly identified high-grade targets remain open along strike.
- Advancing Drilling Program:
- A 10,000 m diamond drilling campaign is currently underway, with three rigs in operation across the two sites.
- Drill results are expected in the coming weeks (and will feed into an updated Mineral Resource Estimate targeted for mid-2025).
Speaking about the results, Melanie Leighton, Chief Executive Officer of Titan Minerals, stated: “It’s pleasing that trenching in new areas outside current Mineral Resources has continued to deliver strong results, with the latest result of 2 m @ 31.96 g/t Au, 7.38 g/t Ag returned from an extensional area ~ 40 m along strike from Inferred Resources at Cerro Verde. Not only will latest results assist in extending the resource along strike, but they will also assist with improving classification given the strong lateral continuity of mineralization.”
“Gold mineralization at Dynasty outcrops at surface, lending itself to trenching as a rapid and low-cost method for defining the width and tenor of mineralization in areas. Additional trenches are being developed over priority areas, with a steady flow of results expected in the weeks ahead and several targets set to be tested as part of the ~ 10,000 m drilling campaign currently underway at Dynasty.”
“Resource extensional and infill drilling is progressing well, with 3 diamond drill rigs currently in operation and several holes now completed with samples sent to the lab for analysis. We expect drill results to be returned within the coming 1-2 weeks, with results to feed into the Dynasty resource update planned for mid-2025”
Corporate Update:
- Strengthened Financial Position: The exercise of 9.48 million options post-quarter end generated over A$3.3 million, enabling the Company to fully repay their A$1.5 million loan.
- Expanding Opportunities: A further 12.21 million options remain exercisable by 31 January 2025, providing potential additional funding for exploration activities.