- Aggressive 12,000m drilling campaign planned
- Full permits in place and ready for immediate drilling
- Aeromag programme contract awarded
- Preliminary metallurgical study work and a mineral resource estimation update in compliance with the JORC Code sampling commencing
The Dynasty Project consists of five concessions totalling 139km2 located in the Loja Province in southern Ecuador. The project is a mesothermal vein gold system with epithermal texture breccia and vein gold overprinting where the partially drilled footprint of gold anomalism at surface yields a mineral resource estimate of 2.1Moz at 4.5g/t gold, reported in accordance with the existing NI 43-101 Technical Report effective 31 December 2018. Dynasty is fully permitted and has undergone small scale production in the past.
The mineralisation at Dynasty is hosted along 9km of strike of which 5km has not been drill tested. Previous systematic exploration activity abruptly ceased in 2007 during reform of Ecuador’s Mining Act from 2008 through to November 2009 with little significant exploration completed since. Data from the 3,850m of recent drilling conducted is being reviewed.
The small scale mining operations at Dynasty from 2017-2020 consisted of 220,000 tonnes per annum of production which was trucked 180km to Titan’s wholly owned Portvelo CIP averaging a 3.4g/t. head grade.
Mining operations targeted outcropping veins which lead to the discovery of several news veins and more complex vein arrays that will be drill tested by Titan. Following a review of the available data, multiple veins not modelled from historical drilling deliver 69% more tonnes mined versus resource estimate at 15% lower grade.
Foreign Resource Estimate, Dynasty Gold Project
(1) As per Core filing on SEDAR dated 7 May 2019 for the NI 43-101 Technical Report titled “Dynasty Goldfield Project, Celica, Loja Province, Ecuador” dated 6 May 2019 and effective 31 December 2018
(2) The information in this document relating to Mineral Resource Estimates for the Dynasty Gold Project is a foreign estimate and is not reported in accordance with the JORC Code, A competent person has not done sufficient work to classify this foreign estimate as a mineral resource in accordance with the JORC Code and it is uncertain that following further exploration work that this foreign estimate will be able to be reported as a mineral resource in accordance with the JORC Code
The Company has received bids for drilling contracts and expects to award those contracts shortly, targeting the commencement of an aggressive 12,000m drilling campaign. Drilling at the Dynasty Project is planned to include:
- Upcycle to JORC Compliance: In-fill drilling, including optimised drill orientations and validation drilling within the existing resource area planned to upcycle the current foreign resource estimate into a JORC compliant estimate
- Extensions to Mineralisation: Mineralisation defined in the existing foreign mineral resource estimate remains open in all directions, including a >4km gap in drilling between Papayal and Iguana within the 9km long Dynasty vein swarm
- Additional veining and disseminated style mineralisation within the existing resource: Titan will undertake additional drilling and sampling within the existing resource and additional sampling of historical core current mineral resource as Cerro Verde and Papyal both also have multiple vein orientations, and host strong potential for increased volume of mineralised material from the identification of additional veining
- Depth Extensions: Previous drilling is predominantly shallow (within 100m of surface) and substantial potential remains in the down-dip potential of the known quartz vein hosted gold mineralisation at each prospect area
- Testing Identified Targets: Maiden drill tests on high priority surface anomalies outside the existing resource
Additionally, the Company has been awarded a contract for an aeromag programme and is prioritising the survey of identified targets. Historically, the Dynasty Project area hosts 201 drill holes totalling 26,734m of diamond core drilling. A substantial portion of this collected drill core has not been previously analysed and has never been split or assayed; an expected 12,000m of core is ready for first pass analysis. Titan will undertake sampling of this archived diamond drill core as part of its preliminary metallurgical study work and a mineral resource estimation update in compliance with the JORC Code.