Titan rigs to translate Dynasty’s 2.1Moz gold resource to JORC standards
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Titan Minerals is drilling at the exciting Dynasty gold project in Ecuador, as it looks to convert to JORC standards and grow a foreign 2.1-million-ounce resource.
A total of 12,000m worth of drilling is planned over the next three months at Dynasty’s Cerro Verde, with Titan (ASX:TTM) continuing a well-advanced channel sampling program concurrently.
The drilling program will also evaluate key features highlighted in airborne geophysics over the past six months, with the goal of updating the current foreign resource estimate at Dynasty to a maiden JORC compliant resource.
Mineralisation is open at depth at Dynasty, and 90% of the mineralised intercepts in the existing foreign resource estimate of 2.1Moz gold are within 100m of surface.
Meanwhile, more than 125 channel samples are currently pending analysis. Relogging of more than 33,000m of historical drilling was also recently completed, with geologic modelling well advanced and auriferous quartz vein geometries to be validated in planned drilling.
The exploration program is fully funded through to the completion of the current 12,000m program.
Titan managing director Laurie Marsland said the drilling program presented a huge opportunity for the company.
“The Cerro Verde area provides significant opportunity for resource growth and currently hosts over 55% of the ounces estimated in the previously completed foreign resource estimate,” he said.
“Further, understanding the Cerro Verde area is key to defining controls on mineralisation for the district and being more predictive in defining targets for resource growth.
“The final phase of drilling will deliver datasets, including the first additional sampling data from the project since completion of the initial drilling in 2008, that will enable Titan to deliver the first mineral resource estimation reported under the JORC code.
“Once the current confirmation drilling is completed, we plan to continue drilling and test the multiple extension targets already identified. Our objective is to aggressively grow the resource throughout the coming year.”
Titan acquired the Dynasty gold project early in 2020 from Canadian-listed Core Gold, which had operated the project as a small-scale mine producing on average 17,000 tonnes per month at an average grade of 3.46g/t gold from open pits between 2017 and 2019.
The company’s planned exploration activity is predominantly infill drilling in the area hosting the existing resource estimate, with 78 diamond holes planned which will ultimately underpin the project’s JORC resource.
The start of drilling at Cerro Verde follows the construction of 2.3km of new roads within the project area, a move which will establish access to key targets and link the Iguana and Cerro Verde prospect areas.
The additional route to Cerro Verde offers access across the central Cerro Verde area, and also establishes access to several previously undrilled veins and extension targets to the east of the prospect.
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.