TTM results set to add to resource as Lingbao prepares for another visit

Our copper-gold Investment Titan Minerals (ASX: TTM) has just released more drill results from its project in Ecuador…

AND its 9.9% shareholder Lingbao is getting ready for a second site visit as TTM and Lingbao work toward a “potential project level transaction” for the Dynasty asset.

TTM’s Dynasty project has a 3.1M ounce gold, 22M ounce silver JORC resource.

Earlier in November TTM hit gold-copper and silver from the deeper porphyry sections of its project.

And TTM is looking to upgrade its resource in an update scheduled for Q1-2026.

TTM has previously said its target is to get to 5M ounces for the Dynasty asset… here is a screenshot from a previous presentation showing that target:

(source)

Today, TTM hit more gold and silver from below its current resource footprint with extensional hits up to 7.8m at 1.9g/t gold equivalent and 29.4m @ 0.7g/t gold equivalent:

(Source)

We are hoping the drill results are strong enough to make whatever transaction that ends up coming from the Lingbao exclusivity stronger…

Update on the exclusivity with 9.9% shareholder Lingbao.

We covered Lingbao deal here: TTM’s 3.1Moz gold 22Moz silver project: Chinese strategic investment of US $10M and 90 day exclusivity to get a deal done

As part of the deal Lingbao made a strategic US$10M investment into TTM at what was then a premium to the share price at 59c per share.

TTM today confirmed that Lingbao are preparing for a 2nd site visit which will also be looking beyond the Dynasty project itself.

There will be a focus from Lingbao to look at wider infrastructure and other mines that are operating in the area.

So it would be fair to say that their due diligence is ongoing and has been amped up another step.

With the time ticking on the 90 day exclusivity period announced on 15th October, today will be day 43 so we are nearly half way through, with the last day January 13, so it could be an interesting start to the year for TTM

What’s next for TTM?

Update on potential transaction with Lingbao 🔄

TTM recently signed a deal with Chinese company Lingbao Gold, which gave them a 90 day exclusivity to do a deal on the Dynasty project. This also came with a US$10M strategic placement in TTM.

We are nearing halfway through this period, so could expect to hear an update on this soon.

There is potential that given Lingbao entered into an exclusivity agreement, that there may be other parties sniffing around which could make things interesting.

More drilling at Dynasty gold project 🔄

TTM is currently at Dynasty with a view of upgrading the project's resource estimate. .

We expect the company to complete this drilling over the coming months and set itself up for a resource upgrade in Q1 next year.

More drilling at the Linderos Copper project (Gina JV) 🔄

The JV with Gina recently completed the second stage of the earn-in agreement AND kicked off exploration under the third phase of the deal:

We are looking forward to results from this stage of works:

(Source)