TTM finds gold at depth, resource upgrade and Gina copper update next

Our gold Investment Titan Minerals (ASX: TTM) released some strong drilling results this morning from its Ecuadorian gold-silver project.

We were looking forward to these results as they were in an area that we thought could deliver some strong extensional hits - and add to TTM’s existing resource in a meaningful way.

TTM is now 31 diamond holes into its drill program, with 7,780 meters completed of the planned 10,000m program.

Some key highlights:

• Hole CVDD24-122 intersected 17.5m @ 2.5 g/t Au from 374m, confirming a 150m depth extension below the current resource.
• Shallow high-grade result of 2.9m @ 21.9 g/t Au from 17.9m, extending shallow resources by 80m laterally.
• Other notable results include 11.7m @ 3.9 g/t Au from 235m and 13.0m @ 4.5 g/t Au from 330.6m in CVDD24-122.
• Mineralisation is associated with a northwest fault zone, concentrating wider, higher-grade mineralization.

On that last point, we particularly liked the sound of this fault zone, along with the commentary on it from today’s announcement:

(Source)

Today, we got a look at the new mineralisation which has been found at depth with the new assays highlighted in yellow on the below image:

This is our high-level overview of the project:

We also got a look at what areas where assays are pending from the remaining holes:

We’re hoping TTM can finish its drilling campaign at the Dynasty project strongly, with some more good results like the ones we saw today.

It’s a red-hot gold market out there, so it’s certainly a good time for more quality results to roll in.

What’s next for TTM?

More drilling at Dynasty gold project 🔄

We expect the company to complete this drilling over the coming months and set itself up for a resource upgrade.

Resource upgrade/update at Dynasty 🔲

By mid-year we expect TTM to publish a resource upgrade over its Dynasty Project.

Drilling results from the Linderos Copper project 🔄

TTM (through its Joint Venture) with a subsidiary of Hancock (Gina Rinehart) is also drilling out its Linderos copper project.

That drilling is funded by Hancock under the US$120M farm-in deal TTM signed with Hancock late last year.

TTM just finished 10,000m of drilling at that project so we should get some results from there in the coming months.

We think this could be source of unexpected upside for TTM if the results confirm more of the extensive copper mineralisation that attracted Hancock’s subsidiary to TTM’s JV in the first place.