Titan Minerals flags copper-molybdenum-gold hit at Ecuadorean project

Titan Minerals has discovered copper-molybdenum-gold porphyry mineralisation at its Linderos Project in Southern Ecuador.

The first two diamond drill holes from the eight-hole maiden campaign at the Copper Ridge prospect returned:

308m grading 0.4% copper equivalent from 54m down hole (CRDD22-003) including a higher-grade intercept of 76m grading 0.5% copper equivalent from 132m downhole;
91m grading 0.4% copper equivalent from 484m down hole (CRDD22-003); and
52m grading 0.3% copper equivalent from 82m down hole (CRDD22-001).

Assays for the remaining holes are pending, and key geological and geochemical datasets are being assembled to facilitate Phase 2 drill planning at Copper Ridge.

A ‘significant’ discovery in the works

The drilling has now confirmed the large-scale porphyry potential at Copper Ridge which the company says gives it further confidence to continue targeting porphyry mineralisation at the project, with considerable scope for both lateral and depth extensions apparent.

“We are very pleased to have met with such success on our maiden drilling campaign at Copper Ridge, with results now confirming the presence of wide intervals of mineralised porphyry, with significant copper, molybdenum, gold and silver returned from shallow depths and extending to the end of hole in CRDD22-003,” Titan Minerals (ASX:TTM) executive director and CEO Matthew Carr said.

“Once all assay results have been received, we will be well positioned to target additional porphyry mineralisation, with foundation geochemical and geological datasets being established to support future exploration programs at Copper Ridge.

“We believe that this is the beginning of what could be a significant discovery.”

Titan’s triple threat

The company is confident that the key targets identified will drive size, scale and potential new discoveries at Linderos, Dynasty and Copper Duke in 2023.

“The level of interest we’ve had from large corporates and strategic investors in our projects this year is something we haven’t experienced to date, with multiple site visits hosted in recent months and advanced discussions held,” Carr says.

“After undertaking site visits, walking the ground and visualising outcropping porphyry mineralisation for themselves, strategic investors are clearly excited about the potential opportunity of all three projects, which puts Titan in an enviable position.”

Next steps

Once all assays have been received from the first phase of drilling at Copper Ridge, grade iso-surfaces will be generated for copper-gold-silver-molybdenum and pathfinder elements typically found in porphyry deposits.

Titan’s technical team is assessing the amenability of an Induced Polarisation (IP) geophysical survey for mapping the sub-surface mineralisation at the prospect, and if deemed suitable, the IP survey will commence in the first quarter of 2023.

Further surface mapping and sampling is also being undertaken to consolidate the company’s understanding on porphyry mineralisation controls at Copper Ridge, and to align surface mapping with logging of recently completed diamond drilling.

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.