Large gold rich and “outcropping” copper porphyry target

Highlights:

  • 13 contiguous concessions totalling 130km2
  • Multi-phase porphyry system, includes two styles of mineralization:
  • porphyry copper-gold associated with hornblende porphyry, and calcite healed breccia zones
  • epithermal gold bearing quartz magnetite vein system
  • High Resolution Heli-Borne Geophysical Survey Confirms and Extends a Corridor Hosting Multiple Clusters of Intrusive Centers
  • Several Geophysical Anomalies Coincident with high-grade gold and copper geochemistry at surface
  • Geophysical Characteristics Similar to Many Major Porphyry Districts in the World that Host Tier 1 Assets

Figure 1: Copper Duke Project location

Asset Overview

Copper Duke is an early-stage exploration project located approximately 18km east of the Company’s wholly owned Dynasty gold.

Copper Duke Project is comprised of thirteen concessions totalling 130km2 in the Loja Province in southern Ecuador. The project is host to multiple porphyry intrusions associated with extensive copper-gold anomalism and quartz hosted gold veining outcropping at surface. The extensive surface geochemistry in historic soil, rock chip and channel sampling extends through over 300m of vertical relief.

The most recent advances over the project include acquisition of a high resolution airborne magnetic and radiometric datasets highlighting similar geophysical responses to many of the major porphyry disctricts in the world that host tier 1 assets. The airborne geophysical survey shortly followed Titan’s acquisition of the project in 2020, and has rapidly elevated ranking for maiden drill testing, with several anomalies coincident with high-grade gold and copper geochemistry at surface.

The first modern exploration within what is now the Copper Duke Project was part of a United Nations survey initiated in 1968. The programme comprised a wide-ranging stream sediment geochemistry survey targeting Cu-Mo systems in southern Ecuador.

The UN sponsored programs culminated with drilling in 1978 with 2 diamond drill holes totalling 440m within the Copper Duke Project area returning better intercepts of:

  • 33.1m @ 2.5g/t gold, 154ppm copper and 2.4ppm Mo from 9m depth, and
    8.4m @ 1.9g/t gold, 294ppm copper and 3.9ppm Mo from 45.3m depth, SON-01
  • 45.4m @ 1.9g/t gold, 168ppm copper and 3.0ppm Mo from surface, and
    10.9m @ 1.7g/t gold, 857ppm copper, and 2.0ppm Mo from 51.85m depth, SON-02

The Historical drilling at Copper Duke is located within the trend of porphyry clusters identified in airborne geophysics, and further drill testing is required to assess potential of the district.

The scale, geometry and extent of geophysical anomalism identified at the Copper Duke Project is similar to many major porphyry districts in the world, including Cerro Casale and Reko Diq. The total endowment and tenor of mineralisation varies across all porphyry projects in relation to a number of factors, including emplacement setting and erosional level exposing the porphyry system. The geophysical results show clusters of intrusion related anomalism over an area greater than 12km2, on par with many tier one deposits around the world. Supported by a relatively high tenor of geochemical anomalism outcropping at surface which is exposed through several hundred meters of vertical relief across the project area.

Integrated Geological Interpretation

Revised Surface geology interprestations have been compiled in 2021 using all available datasets with an emphasis on the radiometric data which resulted in a substantially revised geologic map for the Copper Duke Project.

The magnetic datasets are integrated with the radiometric and geochemical data to detail multiple clusters of intrusion centers. The geophysical interpretation is strongly supported by mapped porphyry style alteration and mineralisation at the Copper Duke Project where several discrete magnetic highs are coincident with favourable surface geochemistry, and mapped magnetite alteration. The magnetite alteration generates several analogous targets outside the existing high tenor surface geochemical footprint to be targeted across the project area, in addition to those already mapped at surface.

Figure 2: Copper Duke Prospect locations over Geophysical product with an Analytical Signal filter

Figure 3: Surface sample locations with copper assay results on revised geology interpretation following interpretations of high resolution airborne geophysics datasets

Figure 4: Surface sample locations with gold assay results on revised geology interpretation following interpretations of high resolution airborne geophysics datasets