• Resource growth drilling is set to commence in the coming week at Dynasty Gold Project in Southern Ecuador
  • Large areas along the Dynasty 9km epithermal vein system underexplored and have seen no, or very limited drill testing to date
  • “Steady flow of results from Cerro Verde and Papayal expected in our resource growth drilling”: CEO Melanie Leighton
  • $5.5m raised last month to accelerate exploration at Dynasty

 

Titan Minerals is soon to commence drilling to expand resources at its Dynasty Gold project after sampling and mapping successfully expanded the epithermal veining footprint at the Cerro Verde prospect “well beyond the current defined resource”.

Ecuador is one of the fastest-growing mining jurisdictions in Latin America and is the second-most attractive destination for mining investment, according to the Fraser Institute’s Investment Attractiveness Index.

The 139km2 Dynasty gold project’s four major prospects contain 3.12Moz gold and 21.98Moz silver, hosted within a 9km long by 2km wide corridor of epithermal gold and silver vein-hosted mineralisation.

Exploration to prove up the resource has been extensive, with 394 diamond drill holes for more than 63km completed in several phases of drilling by Titan Minerals (ASX:TTM) and previous project operators.

Yet huge upside remains. Large areas of the 9km epithermal vein corridor remains largely untested, and even the well-explored portions are sparsely drilled below depths of ~200m.

Approximately 84% of Indicated and 64% of Inferred Mineral Resources reported ≥0.5 g/t Au are within 160m from surface.

The explorer is aiming to define further high-grade, high-margin gold-silver resources in these areas and initial sampling is already showing promising results.

 

‘Exciting opportunity for growth’

Cerro Verde is the largest of the prospects at Dynasty, with a resource of 28.8Mt @ 2.08g/t Au, 13g/t Ag for 1.92Moz of gold and 12.04Moz of silver.

Recent rock chip sampling by Titan at the large-scale, open-ended gold-silver anomalism at the Cerro Verde prospect has confirmed it hosts a much larger epithermal vein system, with peak rock chip values returned from newly identified epithermal veins including:

  • 95g/t Au and 40.4g/t Ag in rock chip TM06908
  • 65g/t Au and 136 g/t Ag in rock chip TM06906
  • 35g/t Au and 14.75g/t Ag in rock chip TM06919

“Following extensive reconnaissance works including geophysics, soil geochemistry, mapping and rock chip sampling, the Cerro Verde epithermal veining footprint has been expanded well beyond the current defined resource at the Dynasty gold project,” Titan CEO Melanie Leighton says.

“There are also several significant intersections that are located outside the resource, representing immediate growth targets, with significant drill results including 4.70m @ 5.11 g/t Au, 32.78 g/t Ag from 32.78m and 4.44m @ 4.05 g/t Au, 163.55 g/t Ag from 76.76m in CVD061 remaining open.

“This represents an exciting opportunity for growth at Cerro Verde.”

An interesting feature noted in veins mapped at surface is they are predominantly thin, though appear to thicken when intersected at depth by drilling, particularly where the veins coalesce or intersect faults.

 

Titan Minerals ASX TTM
Cerro Verde’s epithermal vein system width and tenor, as well as previously recorded significant drill intersections. Pic supplied: (TTM)

 

Dynasty’s other prospect areas include Iguana with a resource of 10.9Mt @ 2.02g/t Au, 13.68g/t Ag for 0.71Moz gold and 4.81Moz silver, Papayal with a resource of 0.9Mt @ 4.54g/t Au and 50.85g/t Ag for 130,000oz of gold and 1.43Moz of silver, and Trapichillo with a resource of 2.9Mt @ 3.80g/t Au, 39.3 g/t Ag for 360,000oz of gold 3.71Moz of silver.

Titan says the Papayal and Trapichillo vein systems exhibit extremely high gold and silver grades, albeit relatively low tonnes – which is largely a function of sparse drilling.

“These areas will be a focus for resource growth,” Titan says.

 

Titan Minerals ASX TTM
The Dynasty gold project area. Pic supplied: (TTM)

 

With $5.5 million raised in a share placement last month, Titan is targeting the commencement of resource growth drilling over new targets areas at Dynasty in the coming weeks and will provide further updates as work progresses.

Funds will also be used to further the explorer’s Linderos and Copper Duke projects nearby and discussions are ongoing with multiple potential strategic investors for Titan’s projects.

 

 

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.