Programme To Add To Dynasty Gold Project Picture
Titan Minerals Limited (ASX: TTM) has commenced diamond drilling on the Cerro Verde Prospect area, located within the Company’s flagship Dynasty Gold Project in Ecuador.
“The Cerro Verde area provides significant opportunity for resource growth and currently hosts over 55% of the ounces estimated in the previously completed foreign resource estimate,” Managing Director, Laurie Marsland, said.
“Further, understanding the Cerro Verde area is key to defining controls on mineralisation for the district and being more predictive in defining targets for resource growth.
“This final phase of drilling will deliver datasets, including the first additional sampling data from the project since completion of the initial drilling in 2008, that will enable Titan to deliver the first mineral resource estimation reported under the JORC Code.
“Once the current confirmation drilling is completed, we plan to continue drilling and test the multiple extension targets already identified. Our objective is to aggressively grow the resource throughout the coming year.”
The Cerro Verde Prospect hosts over 1.1Moz of gold within the existing 2.1Moz gold foreign resource estimation for the Dynasty Gold Project.
The planned exploration activity at Dynasty is predominantly in-fill drilling in an area hosting the existing resource estimate. Currently, 78 diamond holes totalling 11,800m are planned. Drilling is focused on acquiring additional structural data to refine modelling of a structurally complex telescoping epithermal to mesothermal style gold vein system. This work will underpin an updated resource estimation reported under the JORC Code that is underway and will be finalised following completion of drilling at Cerro Verde.
Commencement of drilling at Cerro Verde follows construction of 2.3km of new roads within the project area to establish access to key targets and link the Iguana and Cerro Verde Prospect areas. The additional route into the Cerro Verde Prospect will provide access across the central Cerro Verde area. It also establishes access to several previously un-drilled veins and extension.
During preparation for drilling over the past few months, geologic mapping, and surface sampling has been initiated in the Cerro Verde Prospect area. Field activities include channel sampling of vein exposure in open pits, and sampling on outcropping vein zones, with assay results pending from 125 samples collected in channel sampling activities.
Other activities during the drilling campaign include channel sampling, trenching, surface mapping and geologic review of updated geology interpretations based on recently acquired airborne magnetic and radiometric datasets over the Dynasty Project,
Dynasty is an advanced stage exploration project located in the Loja Province of southern Ecuador comprised of five concessions totalling 139 sq. km.
