Titan Minerals Limited (ASX: TTM) has identified significant expansion opportunities with successful rock chip sampling and a step out drilling campaign at the Dynasty Gold Project in Ecuador.
Assay results for drilling and surface sampling at Dynasty Gold Project has confirmed the mineralisation at depth in areas of the Papayal Prospect that had not yet been drill tested. The latest results represent a first substantial step out from previously drilled areas to assess a 5km gap in drilling at the Dynasty Project.
Surface sampling and drilling both successfully confirm gold-silver mineralisation located 1.5km from previous drilling at the Papayal Prospect. Results demonstrate extensive growth potential for the project within the un-drilled epithermal gold-silver vein corridor at Dynasty where multiple veins remain open in all directions across a 2km wide structural corridor.
The company has recently completed an exploration campaign over the Papayal prospect area confirming mineralisation trenched and modelled in the foreign resource estimate, confirming tenor of the high-grade gold mineralisation at surface and confirming continuity of veining at depth with drilling. Papayal is a 2.5km by 4km long surface geochemistry anomaly with very limited drill testing to date.
Exploration results from rock chip sampling in the undrilled regions of the Papayal Prospect shows extensive outcropping high-grade gold-silver in veining with multiple drill-ready targets defined
Drilling on high-grade trench results at Papayal demonstrate outcropping mineralised veins extend at depth and are open in all directions, better reported intercepts include:
o 2.9m @ 20.7g/t gold and 57g/t silver from 49m
o 3.85m @ 3.01g/t gold and 5 g/t silver from 85.8m
o 8.56m @ 1.00g/t gold and 155g/t silver from 62.14m
Located at the north eastern extent of a 9km long corridor of epithermal style mineralisation at the Dynasty Gold Project, the extensive Dynasty vein corridor hosts an existing 2.1Moz gold foreign resource estimation, which is underpinned by channel sampling and historical drilling that only partially covers the mineralised corridor and where drilled, predominantly tests to relatively shallow (less than 120m below surface) depths.
Limited drilling at Papayal completed historically confirms significant mineralisation along 500m extent of quartz vein filled faulting within the broader vein corridor identified in extensive surface geochemistry) returning better intercepts including: 12.95m @ 4.72g/t gold and 20g/t silver, 2.59m @ 18.3g/t gold and 768g/t silver, 4.84m @ 8.33g/t gold and 11g/t silver and 15.5m @ 2.27g/t Au and 19g/t silver.
The current drill programme focuses on complementing historical work with confirmatory drilling and by confirming subsurface mineralisation associated with extensive channel sampling of veins across the project in areas where Titan has been granted surface access.
Overall, drilling has provided multiple intersections confirming down-dip continuity of quartz vein systems mapped at surface and demonstrates the potential to further extend the mineralised corridor at Papayal within the Dynasty Gold Project. Reported results are for assayed intervals from the first 11 holes, totalling 1,716 metres drilled at Papayal Prospect.
Channel sampling and field mapping activities are ongoing across the Papayal and Cerro Verde Prospects. The Current mapping is focused on validation of revised geology interpretation generated from the recently acquired high resolution airborne magnetic and radiometric survey work. Updates to the geology interpretation for the Dynasty Gold Project based on mapping and re-logging activity are being made on a regular basis as the understanding of the geology of the district advances.
Re-logging of the 31,000m of historical core is now 100% complete, and modelling updates underpinning planned mineral resource estimation to be reported in compliance with principles of the JORC Code are being progressed concurrent with field activities. Drilling of the Cerro Verde Prospect area is anticipated to commence in the next month following completion of ongoing road construction activity establishing new access routes for the project through area with Company owned surface rights
