Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to provide an update on the Company’s 100% held Dynasty Gold Project (Dynasty) in southern Ecuador, where it has been conducting extensive field based exploration including mapping and surface geochemical sampling.
Key Highlights
Dynasty Gold footprint substantially expanded, with new rock chip results confirming additional high-grade gold and silver well beyond existing resources:8.71 g/t Au, 197 g/t Ag, 3.06% Cu, 20% Pb, 12.5% Zn located 1.7 kilometres south of current Mineral Resources at Papayal prospect.8.73 g/t Au and 6.4g/t Ag, located 230m east of current Mineral Resources at Trapichillo prospect.Large-scale arsenic1 soil anomalies have highlighted several new target areas for resource growth at Papayal and Trapichillo prospects, Dynasty Gold Project.Coherent large-scale copper soil anomalies have revealed two copper porphyry targets, adjacent to epithermal gold mineralisation at Dynasty.Trenching has commenced over high priority gold and copper target areas to determine mineralisation extent and controls to optimise drill design.Exploration work programs now complete at Papayal, focus will now turn to 1.8 kilometre gap zone between Trapichillo and Iguana, where recently executed agreements have provided access to highly prospective ground never previously explored.3D geological model updated for Dynasty with improved geological confidence and good potential for JORC classification upgrades for upcoming mineral resource update.
Titan’s CEO Melanie Leighton commented:
“Our expanded exploration programs have highlighted large-scale soil anomalies and coincident high- grade gold-silver rock chip results more than 1.7 kilometres from currently defined resources at Papayal.
“It’s exciting that entirely new copper targets are being unveiled by our exploration. We believe that these new areas of copper mineralisation provide a growth opportunity and could add considerable value to the Dynasty Project.
“In the coming week we will commence work programs in the area between Iguana and Trapichillo, an area representing strong potential for lateral resource extensions, and a 1.8 kilometre strike extent of highly prospective land that has never seen exploration by Titan nor previous project owners.
“The gap zone is an exciting area that we consider to be an important piece of the puzzle that has the potential to connect gold mineralisation along the entire 9km epithermal corridor.�
Dynasty Activities Update
Recently returned rock chip results from the Papayal and Trapichillo prospects have confirmed the presence of high-grade gold and silver mineralisation well beyond currently defined resources. Signfiicant results returned include:
8.71 g/t gold, 197 g/t silver with 3.06% copper and 20% lead and 12.5% zinc in TM069518.73 g/t gold and 6.5 g/t silver in TM0529106.6 g/t gold and 28.2 g/t silver in TM0529055.9 g/t gold and 17.55 g/t silver in TM0534305.4 g/t gold and 13.9 g/t silver in TM052908
Rock chip sample TM06951 is located within the newly discovered Gisell copper prospect. The sample was taken from a polymetallic vein located within a broader zone of strong illite-smectite alteration and associated copper oxide-pyrite-chalcopyrite mineralisation.
In addition to significant rock chip results, recent soil geochemical results have unveiled multiple extensive open-ended arsenic2 anomalies within the Dynasty epithermal gold corridor.
At Papayal, the arsenic anomalies correspond with north-south and northwest-southwest trending epithermal veins, while at Trapichillo they correspond with northeast-southwest trending epithermal veins. The arsenic anomalies remain open to the east and west at Trapichillo, with further work underway to define the extent of these anomalies.
Arsenic (gold) mineralisation is mainly related to veins and halos with pyrite ± arsenopyrite ± galena, traces of chalcocite and iron oxides of jarosite, hematite, and goethite. Propylitic alteration dominates the area with an assemblage of chlorite, calcite ± epidote and argillic alteration related to halos of veins with an assemblage of pervasive quartz + illite.
Soil sampling results were also successful in revealing the presence of two coherent large-scale copper anomalies adjacent to gold mineralisation, at the Cola and Gisell prospects.
The Gisell copper prospect represents an exciting new copper porphyry discovery, approximately 1 kilometre in diameter, associated with a quartz diorite intrusion exhibiting argillic and phyllic alteration. The copper anomaly shows a distinct outer halo of lead and zinc, as typically observed in porphyry systems. Strong copper mineralisation also shows a strong negative correlation with manganese, indicating hydrothermal (phyllic) alteration, whereby manganese is removed from the system due to acidic conditions creating greater solubility.
The Cola prospect is characterised by an ~800 metre diameter copper anomaly centred on a granodiorite intrusion that remains open to the southeast and also features a halo of elevated lead and zinc.
Further mapping and trenches are being developed over these new target areas of arsenic and copper to provide further information on mineralisation style, extent, and controls. Information from trenching and more detailed mapping will be used to optimise drill design.
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