TTM starts drilling, finds veins setting up drill rig?

Published 04-NOV-2024 11:26 A.M.

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Today, our gold, silver and copper Investment Titan Minerals (ASX: TTM) commenced a major 10,000m diamond drilling program at its flagship Dynasty Gold Project in Ecuador.

The drilling aims to expand TTM's existing 3.1Moz gold and 22Moz silver resource through testing extensions and new targets across the large 9km x 2km mineralized footprint.

There was an added bonus to today’s news as well - new veins revealed in the setup of drill platforms.

We’re not sure we’ve seen potential mineralisation found in the process of setting up a drill rig (before drilling cores and assays), but we’ll certainly take this win.

Here is the drill rig on site, and the new veins to the right:

TTM announced trenching results from two target areas at its project:

Iguana south and Iguana east targets - where TTM returned up to 3m @ 21.4g/t gold and 14.1g/t silver from shallow trenches.
Tomahawk target - where TTM returned 5m @ 5g/t gold and 20.6g/t silver, again from shallow trenches.

Before those announcements in a previous TTM note, we had said we expect the resource growth to come by TTM drilling out the gaps in its resources.

(Red in the image below is the resource, the areas in between have never been drilled before).

That area is ~9km long and before the trenching results TTM had plenty of soil geochemical anomalies across that area.

TTM has focused on “low cost generative exploration” on parts of its projects that haven't been touched before.

Here is what TTM’s targets looked like before that work started:

(Source)

And here is how it looks after ~12 months of work and the two announcements put out over the last two weeks:

Successfully expanding the Dynasty resource would not only increase the project's potential scale and economics, but also enhance TTM's leverage to bullish commodity cycles across gold and silver.