Titans Minerals has acquired full-interest in a Peruvian gold project. The Coriorcco Gold Project houses multiple mineralised gold veins larger than 1.2 meters in width at shallow depths. The 10-year term agreement is open to a further eight-year extension.
This marks the second acquisition by the company in Peru, alongside the nearby Las Antas Gold Project.
The project brings geographical advantage, being only 80km away from Titan’s wholly owned Vista Gold Processing Plant. Availability to reduce overhead by processing their own gold provides the company with large financial advantages in the gold market.
Titan states that the project is ready for early-stage development. The project already boasts an existing camp and two underground adits with development already reaching over 1500 meters.
Earlier this year, Titan signed an agreement with Canadian company Core Gold. Titan invested over $20 million for gold exploration, production, and development in Peru.
Titan is currently focused on developing the delivery of mineralised gold to the Vista Gold Plant in the short term.
Work at the Coriorcco project will commence immediately.