Titan Minerals (ASX: TTM) has received further positive assay data from 11 diamond core holes from the ongoing evaluation and validation works at the Cerro Verde Prospect in its Dynasty Project in Peru.
All but one hole has returned significant intercepts in predictable positions from the down dip infill of the veins. As was the case with the previous reported drill holes some intercepts revealed multiple veins and bigger alteration halos suggesting that a larger tonnage at a lower grade from a bulking type approach may exist at current metal prices.
The holes showed an array of silver to gold ratio’s suggesting multiple mineralising phases in what is a highly telescoped system. Silver to gold ratios up to 50:1 but typically in the 10:1 ratio suggest that a substantial silver credit will exist. So much so, that such silver credit may be enough cover mining costs or part of them which will significantly enhance project economics
In addition, new trench data completed in parallel with the drilling has been received from the Cerro Verde and Iguana Prospect areas. HIGHLIGHTS Cerro Verde Prospect
Excellent resource definition and extensional results received from a further 11 diamond core holes.
Better results include: 5.49m @ 5.33g/t gold with 259g/t silver from 58.3m in CVD023; 9.22m @ 2.46g/t gold with 11g/t silver from 169.1m in CVD022; and 3.12m @ 4.57g/t gold with 10g/t silver from 154.97m in CVD027
Trench channel results continue to support continuity of mineralisation along strike and detailed mapping has revealed additional vein density at surface. Better results include: 15.0m @ 6.20g/t gold with 35g/t silver in trench channel CVC022; 4.67m @ 11.91g/t gold with 180g/t silver in trench channel CVC023 o 2.86m @ 26.25g/t gold with 119g/t silver in trench channel CVC024; 7.27m @ 5.19g/t gold with 250g/t silver in trench channel CVC026; and 1.88m @ 10.2g/t gold with 94g/t silver in trench channel CVC027
Iguana Prospect
• Iguana trench results support continuity of modelled veins at surface, with better results including: 5.71m @ 3.95g/t gold with 15g/t silver in trench channel IGC019; 3.11m @ 4.48g/t gold with 8.2g/t silver in trench channel IGC020; 4.73m @ 3.57g/t gold with 73g/t silver in trench channel IGC022 Drilling Program Update
• Titan is planning to continue works with 4 diamond rigs until December 17, 2021. At this point it will pause its drilling to enable assay data to catch up with the physical drill progress. Drilling is expected to recommence in the new year after a review of the results from the current works. Other Works
• In parallel to the drilling at the Dynasty Project, works continue at the Copper Ridge and Meseta Prospects in the Linderos Project.
Also, initial plans for drilling at the Copper Duke Project have commenced with the plan to validate historical drilling.
Exploration works at Dynasty have outlined an extensive zone of epithermal veining over a nine km strike and over one km in width. It remains open in most directions and its contiguous nature appears only to be a limitation on drilling and surface trenching due to topography and land access complications.
Previous explorers had generated a Canadian NI 43-101 resource estimate referred to as a foreign resource and is not yet considered JORC 2012 compliant which essentially breaks the prospects strike into three main Prospects: Papayal; Iguana; and Cerro Verde.
This resource estimate was compiled using a dataset of 1,160 trenches and 26,733 metres of diamond core. In addition, that resource has been validated by a phase of open pit mining of outcropping veins in five separate areas within the Cerro Verde Prospect.
Mining reconciliations were strongly positive with the net overall outcome of a more than 600,000t sample delivering 169% of the resource tonnage at 85% of the resource grade and metallurgical recoveries (not finessed) of approximately 90%.
For further information please visit: https://www.titanminerals.com.au/dynasty-gold-project/
