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- Titan Minerals (TTM) receives what it considers “exceptional” results from two prospects within the Linderos Project in southern Ecuador
- Initial assay results have been received from surface exploration undertaken across the Meseta Gold and Copper Ridge prospects
- At Meseta, the company says the results indicate the gold system is far more extensive than defined to date
- With a newly granted environmental permit, TTM is looking to undertake additional surveys before the end of the year to determine priority targets for drilling
- Shares have been trading 4.7 per cent higher at 11 cents
Titan Minerals (TTM) has received what it considers “exceptional” results from two prospects within the Linderos Project in southern Ecuador.
Initial assay results have been received from surface exploration undertaken across the Meseta Gold and Copper Ridge prospects.
At Meseta, assays have been received from 144 out of 227 rock chip samples. Peak results included 64 grams per tonne (g/t) gold and more than 1500 g/t silver, plus 26.9 g/t gold and 715 g/t silver located east of the nearest drilling.
At the western margin of the prospect, grades included 61 g/t gold with 103 g/t silver, and 42 g/t gold with 9 g/t silver.
Additionally, 13 g/t gold with 16 g/t silver and 7.3 g/t gold with 11 g/t silver on veining was discovered southeast of the prospect.
With these results, the company said it believes the gold system at Meseta is far more extensive than defined to date.
Moving forward, work is planned to follow-up on rock chip samples, and put together a review of work to assess and rank potential gold targets within the project area.
Over at the Copper Ridge prospect, TTM has received results from 28 of 47 channel samples of which it said have returned highly anomalous copper and gold results.
Specifically, results included 42 metres at 0.3 per cent copper and 0.1 g/t gold, including 12 metres at 0.4 per cent copper and 0.1 g/t gold.
The company also noted extensions to the copper mineralisation following the identification of a 360-metre wide zone of copper mineralisation averaging over 0.2 per cent copper.
This zone is said to correlate strongly with the footprint in historic soil geochemistry datasets.
Titan has also received an environmental permit under the Ecuador Scout drilling register which allows for up to 30 drilling platforms at the project.
With this, the company is looking to undertake a high resolution airborne magnetic and radiometric survey before the end of the year with additional consideration for follow-up ground geophysical surveys.
According to Titan’s Managing Director Laurie Marsland, the purpose of the surveys is to determine which of the priority targets warrant drill testing.
Shares were trading 4.7 per cent higher at 11 cents at 1:01pm AEDT.
