TTM JORC resource estimate in Ecuador imminent

Our exploration Investment Titan Minerals (ASX: TTM) has just released a set of drill results from its Dynasty gold project in Ecuador.

TTM’s Dynasty project already hosts a foreign resource estimate of 14.5Mt @ 4.53 g/t gold and 36g/t silver for a total contained resource of 2.1Moz gold and 16.8Moz silver.

The main objective for the drill program’s TTM has been running over the project for the last few years has been to convert the foreign resource estimate into a JORC compliant resource estimate.

TTM has been drilling in and around the historic resource footprint to verify existing data and to see if any major extensions to the resource can be found.

The image below shows where TTM’s existing foreign resource estimate sits:

Today’s intercepts came across the Cerro Verde, Brecho Comanche and Kaliman targets with grades as high as 10g/t gold and thickness’ up to ~12m.

Interestingly, the bulk of the existing foreign resource estimate sits across just three prospects (Cerro Verde, Iguana and Papayal) and is from drilling down to depths of ~100m.

The drilling today shows that gold is being found across other prospects (Brecha Commanche and Kaliman) at depths down to ~350m.

We are hoping that translates into an improvement to the foreign resource estimate once it is brought up into JORC compliance. We are however conscious that this might not happen given most of the time a resource is brought up into JORC compliance it gets smaller.

If TTM can deliver a JORC compliant resource as big or bigger than its foreign resource estimate it will be an unexpected surprise to us.

Below is where today’s drill results came from:

We also noticed that TTM confirmed that its JORC resource estimate was imminent. We are looking forward to that news as it forms the basis for our TTM Big Bet which is as follows:

Our TTM Big Bet:

“We want to see TTM prove up a $1BN plus copper or gold discovery in Ecuador which is so attractive that a mining major acquires the company.”

NOTE: our “Big Bet” is what we HOPE the ultimate success scenario looks like for this particular Investment over the long term (3+ years). There is a lot of work to be done, many risks involved - just some of which we list in our TTM Investment memo. Success will require a significant amount of luck. There is no guarantee that our Big Bet will ever come true.

What’s next?

JORC resource estimate for the Dynasty gold project 🔄

We are now looking forward to TTM announcing its maiden JORC resource estimate at the Dynasty gold project.

We are hoping TTM delivers a JORC resource that is comparable to its existing foreign resource estimate (and fingers crossed that it delivers something bigger).

For context - the foreign resource estimate hosts ~2.1M ounces of gold and 16.8M ounces of silver.