Article by Joshua Smith, courtesy of MiningNews.net
Gina Rinehart-supported Titan Minerals has unveiled a new gold vein at the Cerro Verde prospect within its Dynasty project in Southern Ecuador as it works to firm up the project’s 3.1 million ounce gold and 22Moz silver resource.
The latest round of infill drilling results comes from the Brecha-Comanche target and includes 2.3m at 11.3gpt gold and 83.3gpt silver within 4.7m at 5.7gpt gold and 43.3gpt silver from 227m.
At around 308m, the rig struck a new vein — dubbed ‘Koala’ — that returned 5.8m at 7.1gpt gold and 42.9gpt silver.
A separate extensional hole struck 10.7m at 3.4gpt gold and 5.7gpt silver from 174m, extending the mineralisation in the resource area at depth.
The ‘true widths’ of the mineralisation are currently unknown.
Titan is looking to update its Dynasty resource estimate in mid-2025 ahead of a planned scoping study for which “several workstreams” are reportedly already underway.
Titan CEO Melanie Leighton said the company had three rigs spinning at Cerro Verde to complete the second half of its planned 10,000m drilling campaign, of which 4600m was drilled late last year.
The company started the new year with circa A$18.8 million in the bank to fund its exploration endeavours following a $20 million placement pricing new shares at 44c in December.
Titan also owns the Linderos copper project in Ecuador, which is under a joint venture with Hancock Prospecting subsidiary Hanrine Ecuadorian Exploration and Mining.
Hanrine last year paid US$2 million for a 5% interest in Linderos and has the option to bankroll $120 million worth of exploration to earn up to 80% of the project.
Shares in Titan Minerals were off 2% on Friday morning to 44c, capitalising the stock at A$108 million.
