Join our daily newsletter At The Bell to receive exclusive market insights
- Titan Minerals (TTM) has received assays from 10 of the 41 diamond holes drilled at the Dynasty Gold Project in Ecuador
- The results have extended known mineralisation that remains open in multiple directions
- Importantly, the mineralised intercepts are three to five times wider than previously modelled
- Titan is now conducting re-logging and sampling of historical drill core and will commence a 6000-metre drilling program
- Drilling is set to convert the project’s current resource to JORC-compliant
- Company shares closed 14.8 per cent in the red to trade for 11.5 cents each
Titan Minerals (TTM) has received assay results for 10 of the 41 diamond holes from a recently completed drilling program at the Dynasty Gold Project in Ecuador.
The Dynasty Gold Project is located in the Loja Province of southern Ecuador. It currently hosts a foreign estimate of 2.1 million ounces at 4.5g/t gold reported in compliance with Canadian National Instrument (NI) 43-101 standards.
The results have extended known mineralisation that remains open in multiple directions.
Eight of the 10 new holes reported lie within the southern part of the Cerro Verde prospect which hosts the gold mineralised structures, Comanche and Brecha, that are included in the existing resource.
Results from the Brecha structure include 14.5 metres at 6.43g/t gold from 119 metres, including 6.65 metres at 12.5g/t gold down dip from the original modelled intercept of 2.75 metres at 2.70g/t gold.
Results from Comanche include 16.6 metres at 3.49g/t gold from 171.4 metres, including 5.05 metres at 9.10g/t gold down-dip of 2.9 metres at 7.2g/t gold.
Pleasingly, the broader zones reported include mineralised intercepts that are three to five times wider than previously modelled.
“These results add weight to the view of developing open pits over these extensive high-grade mineralised vein swarms, that typify the Dynasty Gold Project, we are very much looking forward to starting the new 6000-metre drill campaign to further develop this exciting project,” Managing Director Laurie Marsland said.
Outlook
Core logging from the recent program is nearing completion and assay results from the remaining 31 drill holes are pending analyses.
In the meantime, Titan has commenced re-logging and sampling activities of material outside and adjacent to the veins that were identified and sampled in the original 201 diamond drill holes that totalled 26,734 metres of diamond drill core.
Titan is evaluating an upcoming 6000-metre drilling program which will aim to collect oriented core to be geologically modelled.
Additionally, drilling and sampling are focused on converting the Canadian NI 43-101 Resource to a JORC Code compliant resource estimate by the December 2020 quarter.
Company shares closed 14.8 per cent in the red to trade for 11.5 cents each.
