TTM kicks off 10,000m copper drill program

Published 27-NOV-2024 09:52 A.M.

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Titan Minerals (ASX: TTM) just kicked off a 10,000m drill program at its US$120M copper Joint Venture with a subsidiary owned by Hancock Prospecting (Gina Rineheart).

After yesterday’s news, TTM has completed phase 1 of the JV deal which was a 5% interest in the project in exchange for US$2M.

Hancock’s subsidiary is now earning in an additional 25% interest in the project by spending either US$8M on exploration (or 10,000m of drilling)... whichever happens first.

In total, Hancock’s subsidiary gets to earn-in an 80% interest in TTM’s project after either US$120M in expenditure or by getting the project ready for a decision to mine.

Yesterday’s news is on just one of TTM’s four projects:

The JV with Hancock’s subsidiary is just one of TTM’s four key projects in Ecuador.

TTM owns 100% of a project in Ecuador with a JORC resource of 3.1M ounces of gold and 22M ounces of silver - here TTM is currently in the middle of a 10,000m drill program looking to increase the project's JORC resource.

The second most advanced is the one where Hancock (Gina) has just started drilling yesterday as part of the US$120M JV.

The other two are earlier stage copper exploration projects, here is a map of the four projects:

We think TTM’s portfolio of assets are in the right commodities at the right time.

Gold and silver because precious metals prices are running AND copper because it’s viewed as the most important critical mineral for the upcoming decade.

What’s next for TTM?

Over the next few months we are looking forward to TTM putting out results from the two drill programs across its copper JV and its Dynasty gold project.

Here are the key catalysts we are hoping to see TTM deliver: