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Titan ramps up drilling in sprint to Dynasty gold resource
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Titan is getting closer towards defining a maiden JORC resource for its Dynasty gold project with the completion of the first 12 diamond holes at the Cerro Verde prospect.
While these 12 holes total over 2,000m of drilling with the next three holes already underway, the level of activity is poised to increase further with a fourth rig expected to join the 12,000m program this month.
Titan Minerals’ (ASX:TTM) drilling to date at Cerro Verde has focused on the eastern extent of the prospect, sampling a corridor of mineralisation at the Gordo and Foto veins that were exposed in shallow pits mined in 2019-20.
The third rig is drilling at the Brecha–Comanche vein zone located in the southern part of Cerro Verde.
Separately, the company is building up exploration datasets at the Copper Duke project with follow-up geochemistry surveys and reviewing historical information, existing drill-core, and reconnaissance field observations that have highlighted the presence of widespread copper and molybdenum anomalism at the Linderos project.
“We have a very prospective package of assets and I’m extremely pleased with our in-country operations team and the progress they have made to date,” managing director Laurie Marsland said.
“Of particular interest is the work being undertaken at Linderos, which indicates the presence of a significant copper porphyry system.”
Titan’s Dynasty, Copper Duke and Linderos projects are located in the Loja province of southern Ecuador.
Dynasty gold project
The company noted that open pits that exposed the Gordo and Foto veins also exposed several additional veins not identified in historical surface sampling activity.
The targeted veins represent about 120,000oz of gold and 1.4Moz of silver in the previous non-JORC resource, which had estimated an overall resource of 2.1Moz of gold at Dynasty.
Work is focused on a combination of infill and extensional drilling targeting 80m spacing along strike.
Drilling and ongoing surface channel sampling is expected to provide the additional structural data required to improve modelling on a mineralised vein array that is demonstrating to be more complex in geometry and has a higher density of veining than previously modelled.
Over at the Brecha–Comanche vein zone, which is also included within the foreign resource estimate, Titan’s resampling campaign has increased the mineralisation volume of the vein corridor, both along strike and down-dip.
Mineralised haloes, not yet modelled or estimated, were found to form around the main vein zone in this area, while gold grade was shown to increase with depth.
Titan has also started extensive additional geologic mapping and surface sampling at Cerro Verde.
Field activities include channel sampling of vein exposure in open pits and sampling on outcropping vein zones.
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.
