TTM reports high grade gold, new targets
Our copper-gold-silver Investment, Titan Minerals (ASX: TTM) today reported high-grade gold results from surface trenching at its flagship Dynasty Gold Project in Ecuador.
This included a result of:
3.0m @ 21.4 g/t gold & 14.1 g/t silver
Importantly, new veins have been identified through mapping and sampling, significantly expanding the known mineralized footprint to 4km x 1.5km (new results in yellow):
(Source)
These results mean that TTM’s 3.1Moz gold & 22Moz silver Mineral Resource at Dynasty is now, pleasingly, “set to substantially grow” should upcoming drill come in with favourable mineralisation.
On that front, TTM is planning a 10,000m drilling program, which is set to commence in “the coming weeks”.
This drilling will test extensions to the resource, and multiple new targets along what is a 9km epithermal corridor:
(Source)
We think it's a great time to go drilling with the gold price at all time highs, and the silver price sitting at decade highs, and actually outperforming the yellow metal YTD.
How does this impact our TTM Investment Memo?
This news advances TTM towards our Objective #1 from our TTM Investment Memo.
Objective #1: Upgrade Mineral Resource Estimate at Dynasty
We want to see TTM grow its existing 3.1M ounce gold and 22M ounce silver JORC resource at its Dynasty project.
Milestones:
🔄JORC resource upgrade #1
✅Drilling Results 1
🔲Drilling Results 2
🔲JORC resource upgrade #2
We want to see good gold and silver assays in the upcoming 10,000m drill program at Dynasty, leading to a resource upgrade.
Source: 29 May 2024 TTM Investment Memo
What’s next for TTM?
As per our last note on TTM, we’re looking forward to four potential catalysts from TTM:
- Resource upgrade/update at Dynasty 🔄
- Scoping study preliminary results 🔲
- Drilling to upgrade the Dynasty JORC resource again 🔲
- Exploration drilling at Linderos funded by Hanrine (Gina JV) 🔲
Read our latest TTM note below:
