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- Titan Minerals (TTN) has identified high-grade gold and silver mineralisation at the Papayal Prospect in Ecuador
- The company has recently completed a drilling program that focused on complementing historical work and confirming mineralisation
- While all results are yet to be received, grades have so far peaked at 20.7g/t gold and 155g/t silver
- Mapping and surface sampling is also continuing with results for 52 holes received to date
- So far, up to 574g/t gold and more than 1500g/t silver has been identified and the results lie within an extensive un-drilled vein system
- The new vein intersections identified in the drilling, sampling and mapping will be used to support a planned JORC resource estimate
- Shares in Titan are up 9.52 per cent and are trading at 11.5 cents
Titan Minerals (TTN) has identified high-grade gold and silver mineralisation at the Papayal Prospect in Ecuador.
The Papayal Prospect is part of the Dynasty Gold Project which is located in the Loja Province of southern Ecuador.
Titan has recently completed a drilling program that focused on complementing historical work and confirming subsurface mineralisation.
Best results include 2.9 metres at 20.7g/t gold and 57g/t silver from 49 metres and 8.56 metres at 1g/t gold and 155g/t silver from 62.14 metres.
This drilling has confirmed the down-dip continuity of the quartz vein systems and shows the potential to further extend the mineralisation.
Mapping and surface sampling is continuing with results for 52 holes received to date.
This work was undertaken to follow-up on channel sampling, validate historical work and characterise mineralisation types.
So far, up to 574g/t gold and more than 1500g/t silver has been identified.
These results lie within an extensive undrilled vein system where mineralisation remains open in all directions.
The new vein intersections identified in the drilling, sampling and mapping will be used to support a planned JORC resource estimate.
Additionally, arrangements are underway to mobilise multiple drill rigs to complete the remaining 12,000 metres of diamond drilling at the Cerro Verde Prospect.
Drilling is scheduled to begin next month following the completion of road construction.
Shares in Titan are up 9.52 per cent and are trading at 11.5 cents.
