Special Report: Titan’s goal of defining a JORC resource at its Dynasty gold project in Ecudor is off to a rousing start with drilling returning thick, high-grade hits.
Titan Minerals (ASX:TTM) said the mineralised intercepts are between three to five times wider than previously modelled while extending known mineralisation, which remains ‘open’ in multiple directions.
Here are some of the top hits from the first 10 holes for the recently completed 41-hole diamond drilling program:
- 5m at 6.43 grams per tonne (g/t) gold from a depth of 119m including 6.65m at 12.5g/t gold from 122.55m;
- 6m at 4.01g/t gold from 107.9m including 6m at 11g/t gold from 111.15m; and
- 16m at 3.49g/t gold from 171.4m.
This drill program is aimed at converting the current non-JORC resource of 2.1 million ounces of gold to JORC-compliant status.
The company is now re-logging and sampling historical drill core from holes drilled at the project between 2004 and 2007.
Managing director Laurie Marsland says the initial batch of assay results are very encouraging.
“Wider and higher grade intercepts at depth, and where altered material surrounding the veins is included, we are seeing up to three to five times wider intercepts than previously reported,” he said.
“These results add weight to the view of developing open pits over these extensive high-grade mineralised vein swarms, that typify the Dynasty gold project.
“We are very much looking forward to starting the new 6,000m drill campaign to further develop this exciting project.”
2.1moz could be just the start
The discovery of additional mineralisation outside the previous resource estimate is an excellent indicator that the Dynasty gold project could host a substantially larger endowment of the precious metal.
The tested Comanche and Brecha veins are located just 800m from shallow pits that produced 44 per cent more gold than originally modelled.
Small-scale mining at these pits over a three-year period has demonstrated a substantially higher vein density at the project, with metal added in known veins, and with the discovery of additional veins.
The company also notes that the extent to which mineralisation extends beyond the boundary shown is unknown due to colluvium cover over large areas of the concession package.
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This story was developed in collaboration with Titan Minerals, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.