Titan drilling uncovers big potential gold resource at Dynasty
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Drilling at the Cerro Verde prospect within Titan’s Dynasty project has intersected mineralised halos up to five times wider than previously modelled.
Notable intercepts from the first 18 holes include:
Titan Minerals (ASX:TTM) adds that the results to date support its previous modelling while the encouraging increase in vein density provides additional confidence for the development of open pit mining.
That the mineralised halos around the modelled veins are also wider than expected just lends further support to its belief that Dynasty could be a +5Moz project.
Drilling has also identified lateral extensions of up to 160m for some mineralised zones and confirmed that gold mineralisation extends over a vertical depth of 450m, a further 150m than previously demonstrated.
“Exploration and project development continues to accelerate following the process of building our social license to operate in the region and having resolved many of the legacy issues associated with the takeover of Core Gold, it has been pleasing for the Board of Titan to refocus on its key objectives,” managing director Laurence Marsland said.
“Achievement of key objectives should also be significantly enhanced by the appointment of highly experienced key executives Peter Cook, as Titan’s chairman and Michael Skead, as executive vice president of exploration, to help guide the company through the next phase of its development and toward production.
“Restructuring of the business, the continued progress developing working relationships with local communities, and the substantive size of the mineralised system at Dynasty, will afford Titan the opportunity to advance the project’s true potential as the foundation for a major gold mining centre.”
Drilling is ongoing at the Cerro Verde prospect with 54 holes completed to date and assays pending for 36 of these.
This program is aimed at augmenting data compiled from over 1,160 trenches and the initial 201 diamond drill holes that produced 26,733 metres of core that was drilled by previous owners, which underpinned the previous non-JORC resource.
Titan expects to deliver a maiden JORC resource in the fourth quarter of 2021.
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.