Titan’s Dynasty gold drilling now twice as big
Link copied to
Special Report: Titan has doubled the size of its ongoing drill program at the Dynasty gold project in Ecuador that has already identified extensions to mineralisation.
The company has increased the size of the diamond drill program from 6,000m to 12,000m to accommodate additional deeper drilling on mineralisation confirmed with depth in drilling results announced to date at the Cerro Verde prospect.
Additional holes are also being allocated by Titan Minerals (ASX:TTM) for initial drill tests of multiple high-grade gold veins defined in previous trench results.
Confirmatory drilling has been completed at the Iguana prospect and has commenced at Papayal with assays expected soon.
It has also received aerial geophysical results for both its Dynasty and Copper Duke projects with interpretation now underway to assist in unlocking Copper Duke’s large-scale potential.
This will guide follow-up exploration of highly prospective geochemical anomalies across the project.
Managing director Laurie Marsland says the company is pleased with the 5,000m of drilling to date.
“The campaign started at the Iguana prospect, where drilling to date has delivered high confidence oriented core associated with mineralised intercepts within the footprint of the existing foreign resource area,” he noted.
“Also, potential extension of mineralisation at both depth and along strike has been identified.
Marsland added that the slower than normal turn-around of assay results combined with an industry wide escalation of assay work led to the decision to extend the drill program.
“The additional information collected while awaiting assay results will bolster our strategy to confirm and expand Dynasty’s current foreign resource estimate of 2.1Moz at 4.5g/tonne,” he explained.
To date, Titan has completed over 5,200m of drilling at the Iguana and Papayal prospects with 80 per cent of the holes submitted for analyses.
All drilling at Iguana has consistently intersected multiple fault structures with quartz vein fill associated with favourable alteration and sulphide mineralisation while the oriented core has successfully confirmed the interpreted geometry of the mineralised structures.
Confirmatory drilling has been completed over 700m of strike within the 2km long outcropping vein corridor at Iguana, which is situated in the central portion of the 9km long mineralised corridor of the Dynasty project.
A JORC 2012 resource for Dynasty, incorporating results from the expanded confirmatory drilling program, is expected to be completed by the end of the first quarter 2021.
Titan has also continued field sampling and road cut channel sampling at the El Huato prospect within the Copper Duke project.
The channel sampling is follow-up to the ongoing iterative geophysics interpretation work at Copper Duke and is planned to continue. Over 120 samples currently pending analysis and additional field sampling is underway
Data from this work and surface exploration completed to date will allow the company to prioritise follow-up exploration.
Separately, the company is in the process of selling its non-core Zaruma mine and Portovelo mill to help fund its expanded drill program.
Unsolicited interest has also been received for the Jerusalem concession that was returned to the company in September.
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.