TTM’s 9kms of strike has new gold/silver targets
A very on-trend trifecta of metals…
A Gina Rinehart JV in the back pocket…
And now, we’ve got new targets at a gold-silver project to look forward to drilling out…
Our copper-gold (and silver) Investment Titan Minerals (ASX: TTM) just put out an update on its 100%-owned Dynasty Gold Project in Ecuador.
TTM’s Dynasty project has a 3.1M ounce gold, 22M ounce silver JORC resource.
TTM is working toward a resource upgrade (by the end of August) on that project with a scoping study (Q4 this year) to follow right after.
TTM announced new undrilled gold targets along the ~9km strike that the current resource sits around.
Below is an image of the Dynasty Gold Project, including the 9km of strike showing soil geochemical anomalies and multiple target areas:
Here are our key takeaways from today’s TTM announcement:
- New strong arsenic soil anomalies (a pathfinder for gold) identified in the "Gap Zone" between Iguana and Trapichillo prospects, as well as south of Iguana
- These new anomalous areas remain undrilled, providing excellent potential to expand the resource base and TTM will start ranking targets based on today’s results
- Mapping, trenching and drilling planned in late Q3 2024 to test these new targets
- An updated Dynasty resource estimate incorporating recent drilling expected by end of August 2024, likely showing modest growth according to the company
This highlights the potential upside for us as TTM Investors from exploration at TTM’s flagship Dynasty project.
By defining new high-priority drill targets along the 9km mineralized trend, TTM has set the stage for potential resource growth in the coming months.
How does today’s news impact our TTM Investment Memo?
Right commodities at the right time
TTM gives us exposure to gold, silver and copper. All three commodities are currently running with gold and copper both trading at all-time highs and silver breaking out into decade highs.
An expanded gold (and silver) resource would be a big win given current elevated gold and silver prices.
Source: “Why we Invested” section - TTM Investment Memo 29 May 2024
This aligns with one of the key reasons for our Investment - gaining exposure to gold and silver as a hedge against inflation, along with TTM’s copper asset which has recently been the subject of a JV agreement with Gina Rinehart’s Hanrine.
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
Milestone
🔄JORC resource upgrade #1
✅Drilling Results
🔲Drilling Results
🔲JORC resource upgrade #2
Source: “What do we expect TTM to deliver” section - TTM Investment Memo 29 May 2024
Today’s announcement means we now have higher expectations for drilling results 2 and JORC resource upgrade #2, after drilling results 1 are incorporated into JORC resource upgrade #1.
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) 🔲
Not to mention, the important step of finalising the joint venture agreement with Hanrine for the Linderos Copper Project.
Read our full take on TTM after Gina Rinehart’s Hanrine made an investment in TTM below:
