Titan Minerals Limited is pleased to announce a significant drilling result from the Iguana Prospect at its 100%-owned Dynasty Gold Project (South Ecuador). The latest results validate historical drilling results and highlight the potential for resource expansio, which currently hosts a 3.1 Moz gold and 22 Moz silver resource.
Highlights
- High-Grade Intercepts at Iguana Main Zone:
- 15.5 m @ 3.0 g/t Au, 22.8 g/t Ag from 89.1 m downhole, including:
- 6.1 m @ 4.0 g/t Au, 40.1 g/t Ag (Hole IGDD24-027)
- 1.7 m @ 1.5 g/t Au, 271 g/t Ag from 115.0 m
- Strong Results from Iguana East Extensional Drilling:
- 3.0 m @ 4.9 g/t Au, 11.2 g/t Ag within 9.8 m @ 1.6 g/t Au, 4.4 g/t Ag from 21.8 m
- 2.3 m @ 1.8 g/t Au, 18.4 g/t Ag from 29.8 m
- 2.0 m @ 2.5 g/t Au, 4.2 g/t Ag from 53.2 m
- Resource Expansion Underway:
- Ongoing 10,000 m resource extension and infill drilling campaign
- 4,600 m completed; remaining 5,400 m to focus on Cerro Verde and Iguana depth extensions
- Updated Mineral Resource Estimate targeted for mid-2025
Titan Minerals CEO, Melanie Leighton, commented: “We are pleased to release the first of several batches of drill results from our 2024 Dynasty resource drilling campaign. With a substantial 3.1 Moz gold and 22 Moz silver resource already established at Dynasty, in 2025 we are targeting resource growth and conversion with our initial 10,000 m campaign.”
“The result of 15.5 m @ 3.0 g/t Au, 22.8 g/t Ag, including a higher-grade interval of 6.1 m @ 4.0 g/t Au, 40.1 g/t Ag at Iguana main zone is a great result, both validating historical drilling and improving the grade of the resource in this area.”
“Drilling at Iguana east was undertaken in an area of Inferred Resources, supported by mapping and surface trenching, but never previously drilled. Pleasingly, Titan’s latest drilling has been successful in confirming the continuity of Iguana East mineralization at depth, with review of results being undertaken before planning next drilling.”
“The drill rigs are now back in action at Dynasty, with the remaining 5,400 m of resource drilling to be directed towards several lateral and depth extensional targets at Cerro Verde, in addition to three holes to test depth extensions below Iguana main zone.”
“Titan has a strong balance sheet with a $20 M capital raise completed in late 2024 and strong conversion of 35 c options providing further funding to facilitate resource and exploration drill programs, delivery of a Mineral Resource update and the commencement of Scoping Studies at Dynasty in 2025.”
Strong Financial Position
- $20 million capital raise (December 2024)
- Strong conversion of 35 c options to additional funding
- Funds are to go towards drilling, resource updates and advancing, and Scoping Study