Titan drilling to highlight Ecuador gold project’s multi-million ounce potential
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Special Report: Titan has kicked off confirmatory drilling that will help underpin a JORC resource estimation for its company-making Dynasty gold project in Ecuador.
Dynasty currently has a Canadian NI 43-101 resource of 2.1 million ounces of gold though this is not considered to be of a quality to underpin any economic reviews.
As such, the first of three diamond rigs is now carrying out Titan Minerals’ (ASX:TTM) 6,000m program that is designed to better understand the geologic controls on gold mineralisation at the project.
Additional geological data, including the first oriented core drilling for the project and logging of historical diamond core will underpin a maiden 3D geology model for Dynasty.
“This current phase of drilling is an important step towards further advancing and confirming Dynasty as a significant gold project within Ecuador,” managing director Laurie Marsland said.
“Current drilling, leading to a JORC compliant resource update is a key catalyst for adding value to and bringing a higher standard of technical stewardship to the project.”
Importantly, defining key controls on the mineralisation will improve the probability of expanding the resource footprint.
“Initial drill testing of outcropping gold mineralisation and substantial step-out drilling along zones of known mineralisation that disappear under shallow cover, is required to assess the potential for substantial resource growth in the next phases of drilling,” he added.
Diamond drilling is not the only work that Titan is carrying out at Dynasty.
The company’s program of logging core from the 2019 drilling at the project is also nearing completion and further assays results are pending analyses.
Concurrently, it has started re-logging and sampling material outside and adjacent to the identified veins that it has not previously sampled.
Titan notes that significant progress has been made in building the first integrated database that will provide a better understanding of the structure and geology of the Dynasty project.
Additionally, a geophysical survey crew has mobilised to carry out a high resolution magnetic and radiometric survey over both the Dynasty and Copper Duke project areas.
These surveys will be completed over the next three to four weeks with final reporting expected about 30 days after.
Copper Duke is an early stage project, located east of Dynasty, comprising 13 concessions spanning 130sqkm.
Historical exploration has defined at least six major targets, including a major copper-gold porphyry complex at El Huato.
Titan recently raised close to $15m to fast track exploration at the two 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.