First drilling results from 2.2moz Dynasty gold project due back very soon, Titan says
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Special Report: A 12,000m drilling campaign at Titan Minerals’ (ASX:TTM) large, high grade Dynasty gold project in Ecuador is now over 50 per cent complete. First assay results are due for release late January.
Titan has a large, ~2moz and growing flagship gold project called Dynasty in the country’s south.
A +12,000m drilling campaign at the Dynasty will aim to convert it to a JORC-compliant resource – a must-have for ASX-list companies — and ‘step out’ along the 9km of mostly untested strike to make it bigger.
4,560m of drilling at the ‘Iguana’ prospect is now at the lab with results anticipated in late January, the company says.
This is a potential future underground development, the company says.
A previous ~375,000oz resource estimate based on 6,521m of historical drilling completed before 2008 covered only a section of the vein corridor.
An additional 1.2km of strike extension has been mapped and channel sampled, highlighting relatively high-grade gold at surface.
This high-grade vein zone at Iguana remains undrilled along strike and below 100m depth, Titan says.
Drilling has now resumed at the ‘Papayal’ prospect.
The ‘Cerro Verde’ prospect, where the bulk of the resource is found, will be drilled last.
Results for each prospect will be reported in the sequence drilled, when all assays have been received and evaluated, the company says.
Titan is also evaluating ~28,000m of historic drill core which, alongside the current drilling campaign, will provide a better understanding of the size and scale of the Dynasty system.
All samples re-logged to date have been submitted for analysis with results for 2019 drilling anticipated in early February.
An aerial geophysical survey flown on 100m line spacing over Dynasty and Copper Duke, completed through October and November 2020, has delivered high resolution data sets for both project areas.
Outstanding historic exploration results has defined at least six major targets, including a major copper-gold porphyry complex at El Huato.
At Dynasty, Titan believes the geophysical results will enhance the regional geological interpretation of the district, by identifying multiple anomalies associated with major structural features in the 9km long corridor of outcropping vein hosted mineralisation.
At Copper Duke, the results are anticipated to unlock its large-scale potential and identify areas of mineralisation.
This article was developed in collaboration with Titan Minerals, aa Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.