Geophysical Survey Complete And Drilling Capacity Increased
Titan Minerals Limited (ASX: TTM) is preparing to accelerate drilling activities at its Dynasty Gold and Copper Duke Projects in Ecuador.
The company has now completed a high resolution magnetic and radiometric surveys at Dynasty Gold Project and the survey team has now mobilised to the Copper Duke Project.
Both projects are situated within fivekm of the Pan American highway and 18 km of each other, in the Loja Province of Ecuador.
Further, mobilisation of a third drill rig to the Dynasty Gold Project site has recently been completed and drilling has commenced on the seventh hole of the proposed 45 hole programme that is to be completed over the coming months.
“The acquisition of high resolution geophysics on Dynasty and Copper Duke will mark a key milestone in the development of these projects,” Managing Director, Laurie Marsland said.
“The surveys will improve our understanding of the geometry and extent of numerous intrusions and porphyry systems associated with each project.
“Using results from the geophysical survey we are keen to prioritise follow-up exploration of the numerous highly prospective geochemical anomalies across Copper Duke.
“Further, in the mapping to date, our geologists consistently report a correlation between gold and magnetite alteration. In some cases, that may result in the surveys being a direct targeting tool, particularly for Dynasty.”
During October, Titan mobilised a geophysical crew to complete helicopter borne, high resolution magnetic and radiometric surveys on 100m line spacing across the Dynasty Gold Project area and the Copper Duke Project area, located nearby.
\The survey of the Dynasty Gold Project was completed over a period of 10 days. The team has transferred to the Copper Duke Project and expect to complete the equivalent survey by the end of October. Final reporting of survey results for both projects is expected in late November.
Meanwhile, the company continues to progress its confirmatory drilling programme at Dynasty where three drill rigs are now operating on site.
The first sample shipments are anticipated to be dispatched in the coming week. Results of the programme will contribute to a better understanding of the geologic controls on gold mineralisation for the current foreign resource estimate that totals 2.1Moz averaging 4.5g/t gold.
Additional geological data, including generation of oriented core, not generated for previous drilling, and logging of historical diamond core will underpin development of a 3D geology model for the project.
The new oriented core data will enable definition of vein geometries for incorporation into geometries of mineralized zones, that will enable completion of a resource estimate for reporting in compliance with the JORC Code.
