Massive success for Titan as it locates new vein system at 3.1Moz Dynasty project
Special Report: Drilling at Titan Minerals’ Papayal deposit at its Dynasty gold project in Ecuador has confirmed a new vein system.
The company’s flagship 3.1Moz gold, 22Moz silver Dynasty project is in one of the fastest-growing mining jurisdictions in Latin America, with Ecuador the second-most attractive destination for mining investment, according to the Fraser Institute’s Investment Attractiveness Index.
The new ‘Julia’ vein system was recently confirmed by drilling at the Papayal deposit, with two holes intersecting wide zones of epithermal vein hosted mineralisation from shallow depths.
The shallow depth is particularly notable here, with Titan Minerals (ASX:TTM) confident the Julia target represents potential high-grade resource additions for the Dynasty project, further validating the company’s strategy of targeting shallow, high-grade, high-margin ounces.
“We are excited to have drill confirmed ‘Julia’ – a substantial new gold vein system, discovered by Titan through recent surface mapping and geochemistry at the Papayal prospect,” TTM CEO Melanie Leighton said.
“Discovery of this vein system has been made possible by the strong relationship established with the Papayal community, who have granted access, and are assisting with exploration work programs, enabling Titan to undertake drilling and realise Papayal’s full potential.
“The Julia vein system is the first of many that are set to be discovered and drill tested in the company’s efforts to grow the already established 3.1Moz gold and 22Moz silver resource at the Dynasty Gold Project.”
Resource growth drilling at the Cerro Verde prospect is now complete with nine diamond holes for 970m while drilling at the Papayal prospect is also under way.
Current resources at Papayal comprise 0.9Mt at 4.54 g/t gold, 50.85 g/t silver for a contained 0.13 Moz gold, 1.43 Moz silver, representing a high-grade part of the 9km epithermal corridor at the Dynasty project and a high-priority area for resource growth.
To date, four diamond holes for 394m have been completed while a further nine holes for 1,005m are scheduled as part of the initial resource drilling program.
Assays from drilling at Cerro Verde and the first holes from Papayal are expected to be returned in the coming 2-3 weeks.
The current resource growth drilling campaign is expected to be completed in Q1 2024, with a resource update to follow in Q2 2024.
This article was developed in collaboration with Titan Minerals, a 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.