Confidence Growing In Large Scale Gold System Potential
Titan Minerals Limited (ASX: TTM) has further confirmed the potential of its Dynasty Gold Project in the Loja Province of southern Ecuador.
Managing Director, Laurie Marsland, said the latest drilling assay results have validated diamond drilling completed in the 2019-20 field season within the Cerro Verde prospect following the completion of a re-sampling campaign.
The results show mineralisation extends along strike, displays wider vein widths and also demonstrate mineralised haloes proximal to previously intersected veins in past diamond drill campaigns. Mineralisation intersected in this drilling was found to occur outside of the modelled veins previously identified in several of the reported holes.
Mr Marsland said this finding is consistent with previously announced results from the same where extended sampling of core identified mineralised halos returning three to five times wider mineralised zones from two veins modelled in the south of the Cerro Verde prospect. The reported results demonstrate a similar style of broad mineralisation as reported in July highlighting further bulk tonnage potential in the north of Cerro Verde in holes CV19-010 and CV19-012.
Hosting an existing 2.1Moz gold foreign resource estimation (Canadian NI 43-101 compliant) the Dynasty Gold project is currently the focus of a 12,000m confirmatory drilling campaign.
Drilling is advancing concurrently with re-logging and sampling of previously drilled core focused on a planned JORC Compliant update of the mineral resource estimation.
“It is very encouraging to see more positive results produced from drilling completed on the Cerro Verde Prospect,” Mr Marsland said.
“The results confirm extensions to mineralised zones identified in previous drilling, show increased widths of mineralised intercepts, continue to confirm the tenor of mineralisation and demonstrate mineralised haloes proximal to veins previously intersected. Overall, these results confirm the potential to increase the resource at the Dynasty Gold Project. “
The 2019-20 drill campaign initially focused on assessing shallow pit targets, with over 40% of the drill holes less than 80m in length. The original assay work for that previous drilling was completed at the uncertified laboratory facility located at the company owned Portovelo Plant.
The reported results of sampling and assaying initiated by Titan brings the newly reported drilling up to a standard which can now be incorporated into the planned resource estimation update in accordance with the standards of the JORC Code, 2012 edition.
Re-logging and additional sampling of historical core drilled at Dynasty between 2004 and 2008 continues with the logging well advanced and sampling commenced. Further results for the historical core are anticipated over the coming months.
