Titan Minerals' Dynasty Gold Project: New High-Grade Discoveries and Exploration Updates
TTM (TTM) Share Update November 2024 Thursday 28th
Titan Minerals Unveils Promising High-Grade Gold Discoveries at Dynasty Project
Titan Minerals Limited has announced exciting new high-grade gold discoveries at its Dynasty Gold Project in Ecuador, marking a significant step forward in its exploration efforts.
Instant Summary:
- 2.1m @ 32 g/t Au & 7.4 g/t Ag at Cerro Verde east.
- 3.0m @ 21.4 g/t Au & 14.1 g/t Ag at Iguana south.
- Resource update expected mid-2025.
- 10,000m drilling campaign underway.
- Balance sheet strengthened with $3.3M from option conversions.
New Discoveries at Dynasty
Titan Minerals Limited has reported new high-grade gold discoveries at its Dynasty Gold Project in southern Ecuador. The latest trench results from the Cerro Verde and Iguana prospects have returned impressive grades, including 2.1 meters at 32 grams per tonne (g/t) gold and 7.4 g/t silver at Cerro Verde east. Additionally, at Iguana south, a 3.0-meter trench returned 21.4 g/t gold and 14.1 g/t silver.
These findings are part of a broader exploration strategy that includes a 10,000-meter drilling campaign currently in progress. The company aims to deliver a resource update by mid-2025, which will be a key component of the Dynasty Scoping Study scheduled for the third quarter of 2025.
Exploration and Resource Growth
The Dynasty Gold Project spans five contiguous concessions covering 139 square kilometers. Exploration efforts have identified extensive epithermal veining over a nine-kilometer strike, with potential for porphyry copper mineralization. The project is fully permitted for exploration and small-scale mining activities.
Recent trenching and channel sampling have confirmed the prospectivity of multiple targets, with new significant trench results providing 'proof of concept' for further exploration. These results will guide drill design over new target areas as part of the ongoing exploration program.
Corporate Strengthening
In addition to exploration successes, Titan Minerals has strengthened its financial position. The company has received over $3.3 million from the exercise of options and has repaid a $1.5 million loan, further solidifying its balance sheet. This financial stability will support continued exploration and development activities at the Dynasty Gold Project.
The discovery of high-grade gold at the Dynasty Gold Project is likely to positively impact Titan Minerals' stock, as it underscores the project's potential for significant resource growth. The ongoing drilling campaign and anticipated resource update could further enhance investor confidence and drive stock value.
Investor Reaction:
Analysts are optimistic about the potential for resource expansion at Dynasty. The high-grade findings and financial strengthening are seen as positive indicators for Titan Minerals' future growth and exploration success.
Conclusion:
Investors should keep a close eye on Titan Minerals as it progresses with its exploration and drilling activities. The upcoming resource update and scoping study will be critical in assessing the full potential of the Dynasty Gold Project.