Titan minerals is on the hunt for a monster porphyry style copper mineralisation at its Linderos project in Ecuador. Pic via Getty Images.
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Titan Minerals is well placed to continue exploration on the exciting Copper Ridge prospect at its Linderos project in Ecuador, striking long intervals of porphyry style copper mineralisation in a maiden drilling program.
Results from the final six of eight holes drilled in a maiden program in the frontier South American copper jurisdiction have returned promising hits.
They include 72m at 0.4% copper equivalent from just 21m in hole CRDD22-006, 51m at 0.4% CuEq from 373m and 22m at 0.5% from 524m in a broader intersection of 558m at 0.2% CuEq from the surface to the end of hole.
Hole CRDD22-004 also struck 186m at 0.3% CuEq from 196m, with a gold rich zone of 80m at 0.4% CuEq from 286m within a broader hit of 344m at 0.2% CuEq from 38m to the end of hole.
Hole CRDD22-007 also ended in mineralisation (meaning it remains open at depth), with a broader intersection of 172m at 0.2% CuEq from 196m containing 88m at 0.3% CuEq from 266m.
The results come off the back of previous intercepts from holes CRDD-001 and CRDD-003 which pointed to a “significant discovery”.
High tenor mineralisation in CRDD-003 of 76m a 0.5% and CRDD22-006 also demonstrate Titan’s (ASX:TTM) potential to find higher grade copper and gold at Copper Ridge.
Large scale and low grade porphyry deposits may not have all the glamour of high-grade VMS copper discoveries.
But they are actually the world’s largest source of copper production, with the porphyry monsters in the Andean nations of Peru and Chile the largest contributors to global production of the industrial and now EV metal.
Neighbouring Ecuador, where Newcrest and BHP-backed SolGold is developing the famed Cascabel project, is a new frontier for porphyry copper hunters.
And early indications at Copper Ridge are highly encouraging for Titan.
“These results wrap up the first drill program at our Copper Ridge prospect within our Linderos Project where outcropping porphyry copper style mineralisation has been discovered, with drilling now confirming a substantial copper-gold porphyry system from surface,” CEO Melanie Leighton said.
“This initial program of eight holes has returned highly encouraging results and our analysis highlights the potential for both lateral and depth extensions, as we vector into what we believe is the core of the porphyry system.”
“Future drill plans are being designed to intersect the earlier-phase, higher-grade copper-gold porphyry mineralisation and we are excited to soon be underway with our next phase of drilling at Copper Ridge.”
Early grades from Copper Ridge compare well to similar deposits like those at Cascabel.
“It’s important to appreciate that copper grades returned from this initial campaign of drilling compare favourably with peer porphyry deposits which are currently advancing through development and earmarked for large-scale production in the near future,” Leighton said.
“Most notably, SolGold’s Alpala porphyry deposit contains a global resource of 3.2Bt grading 0.49% Cu Eq (0.35% Cu, 0.23g/t Au, 1.0g.t Ag) for 9.9Mt of copper, 21.7Moz gold and 92Moz silver, and a proposed mining cut-off grade of 0.21% Cu Eq 3 , with its higher-grade core commencing at a depth of 600m.”
“Titan shareholders can expect strong news flow in what promises to be a very busy and exciting 2023.”
So far Titan has drilled just 3700m at Copper Ridge, with much more news flow to come.
Three dimensional geological modelling has been planned to improve the understanding on mineralisation controls and facilitate Phase-2 drill targeting.
Other geophysical, geochemical and mineralogical assessments are also being planned, with preliminary metallurgical test work soon to start to provide indicated recoveries for the copper, gold, silver and molybdenum mineralisation at Copper Ridge.
Meanwhile two world class experts have been tapped to guide the exploration efforts at Linderos.
They include Dr Steve Garwin, a renowned porphyry expert, who will enter as a technical consultant and has been instrumental in guiding SolGold’s exploration at Cascabel.
He will arrive at Linderos in early March to provide mentoring and training to geologists on site, ensuring the most important data is collected and that drill targeting is optimised to ensure success.
Titan is also continuing a close working relationship with Dr Scott Halley, a renowned geochemist who has extensive experience in the geochemistry of porphyry mineral systems.
Dr Halley is interpreting geochemical and spectral data to vector towards higher grade copper-gold phases of mineralisation.
There are more assays to come from Linderos, with results from a campaign at the Meseta gold prospect complete in late Q3 expected to be received in early February and preparations advancing for Phase 2 drilling at both Copper Ridge and Meseta.
Preparations are also under way to drill test several high priority targets at Copper Duke, also in Ecuador, where generative work programs including detailed surface mapping, soil and stream sediment geochemical sampling and geological understanding have advanced.
Similar exploration activities are also ongoing at the Dynasty project, where Titan boasts a foreign mineral resource estimate, along with preparations to drill test high grade epithermal gold extensions at the Cerro Verde prospect and porphyry mineralisation at the Kaliman gold-copper prospect in the coming months.
This article was developed in collaboration with Titan Minerals (ASX:TTM), 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.
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