Titan Minerals Limited (ASX: TTM) has commenced an inaugural round of reconnaissance drilling at the Company’s 100% held Copper Duke project in Ecuador.
The objective of this first program, which is squeezed in before the onset of the wet season, is to validate historic results from two diamond holes drilled in 1978 by the United Nations aimed at discovering molybdenum but intersecting gold mineralisation. Additionally, the first hole tested an interpreted magnetic target proximal to one of those historic holes.
Background work by way of geophysics, geochemistry, mapping and rock chip sampling is being completed, progressing numerous targets generated earlier this year from newly completed airborne magnetic and radiometric surveys.
The core from the first hole, HTD001, looks visually encouraging with zones of magnetite veining within predominantly andesitic volcanics, and magnetite veining often associated with pyrite and cross cut by narrow quartz pyrite veinlets associated with pervasive alteration and localised quartz-sericite-pyrite alteration in the silicified rocks.
“It is gratifying to finally be able to schedule two drill holes at Copper Duke before the end of this drill season,” Managing Director, Laurie Marsland, said.
“Our objectives in this short program are modest with the objective of validating previous data and collecting core to analyse and prepare for more detailed strategy.
“We will also get to test a newly identified geophysical anomaly which will provide great information on geology, alteration and structures controlling the magnetic features beneath more than 1.5km by 6km corridor of gold-copper mineralisation mapped at surface.”
Diamond Drilling
The company has moved to divert one of its drill rigs to Copper Duke to complete two holes for a planned 540m campaign before the wet season curtails access in this drill season.
This programme has two main objectives:
- The validation of results from an historical completed in 1978 as follow-up work to a U.N. survey to identify strategic base metal potential in the region.
In that programm3 drill hole SON-02 was drilled to a depth of 220m depth and only the top 62.75m was assayed for gold and silver with published results declaring an interval of 45.4m @ 1.9g/t gold from surface. The description notes poor core recovery to in the upper part of the hole.
In addition, Titan will extend the depth of its first hole HTD001 to approximately 300m to test the source of 291m of magnetic anomalism highlighted in 3D inversion modelling of the high- resolution magnetic datasets generated earlier this year.
- A second hole is planned to be drilled 1.5km to the southeast on a sub-parallel trend of magnetic anomalies associated with relatively higher gold grades and increasing vein density noted in surface mapping and sampling to the southeast in the El Huato target.
The first core from the diamond hole, HTD001, hole looks visually encouraging intersecting zones of magnetite veining within predominantly andesitic volcanics, including magnetite veining often associated with pyrite and cross-cut by narrow quartz-pyrite veinlets (refer to Plates 1 and 2a) associated with pervasive alteration and localised quartz-sericite-pyrite alteration in the silicified rocks (refer to Plate 1c).
Several narrow diorite instrusions (dykes) are intersected hosting disseminated magnetite but the dykes are less altered than the surrounding volcanic sequence and do not appear to be a causitive intrusion for porphyry style mineralisation.
For further information please visit: https://www.titanminerals.com.au/
