Join our daily newsletter At The Bell to receive exclusive market insights
Titan Minerals (ASX:TTM) has this week delivered a substantial resource upgrade for the Dynasty gold project in southern Ecuador, reinforcing its emergence as a large-scale, multi-deposit gold-silver system.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The updated resource now stands at 65.6 million tonnes (Mt) at 1.85 grams per tonne (g/t) gold and 12.38 g/t silver for 3.9Moz gold and 26.1Moz silver.
This March 18 upgrade represents a 25% increase in gold and a 19% increase in silver relative to a 2023 estimate, Titan explained today, driven primarily by drilling success and growth at the Cerro Verde deposits.
Mineralisation across all MRE deposits remains ‘open’ with drilling set to commence in the coming week. Further MRE growth, both total ounces across the project and indicated ounces at Cerro Verde, will be targeted in the forthcoming drilling campaign.
Titan’s CEO, Melanie Leighton, said Dynasty has significant further upside. “We are very pleased to have delivered substantial growth at Dynasty, with an increase of 25% in contained gold ounces from the previous 2023 MRE.
“The MRE update comes after 12 months and around 22,400m of targeted resource expansion drilling, with a discovery cost of US$6.30/oz, which is an impressive result and a credit to our dedicated team in Ecuador.”
Ms Leighton continued: “Latest drilling, which has been incorporated into the MRE update, has enhanced our understanding of mineralisation controls at Dynasty, while also highlighting the remarkable predictability of the mineralisation, as demonstrated by infill and extensional drilling.
“The MRE update features the addition of wide and high-grade depth extensions at the Brecha-Comanche prospect and extensive zones of porphyry hosted gold-silver mineralisation at the Kaliman prospect. What’s even more exciting is that Mineral Resources remain open and have substantial room to grow.”
The Dynasty combined mineral resource estimate sits across some three mineral concessions, all approved for small-scale mining.
“Titan’s geology team have been busy finalising a 30,000m drilling campaign to target continued resource growth and conversion. We look forward to the drill rigs kicking off again next week, with the geology team excited to test several compelling epithermal and porphyry targets that have never been drilled.”
Around 47% of the Cerro Verde MRE is contained in the top 100m and 76% in top 200m from surface. The Cerro Verde MRE extends from surface over an area of around two km by 1.7km, down to a depth of 670m.
The oxide resources at Cerro Verde represent 27% of the MRE and total 12.1 Mt at 1.88 g/t gold and 11.20 g/t silver for 734Koz gold and 4.37Moz silver.
“Several processing facilities in the region are amenable to processing Dynasty oxide ores, representing a potential low-cost start-up operation to generate early cash flow and access to funding to build out a long-life, large-scale mining operation,” Ms Leighton noted.
TTM is down -0.77% today.
Join the discussion: See what HotCopper users are saying about Titan Minerals Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)