Resource expansion drilling delivers 25 % increase in gold and 19 % increase in silver as company prepares for further growth drilling.
Dynasty Gold Project Geology, epithermal gold-silver mineralisation outlines and deposit locations. Image Credit: Titan Minerals Limited
Titan Minerals Limited has significantly expanded the Mineral Resource at its 100 %-owned Dynasty Gold Project in southern Ecuador, increasing the project’s gold inventory to 3.9 million ounces and silver inventory to 26.1 million ounces following a year of successful drilling.
The updated Mineral Resource Estimate (MRE) now stands at 65.6 Mt at 1.85 g/t Au and 12.38 g/t Ag, representing a 25 % increase in contained gold and a 19 % increase in contained silver compared with the previous estimate.
The growth is largely driven by resource expansion and infill drilling at the Cerro Verde deposit, which now hosts 50.8 Mt at 1.66 g/t Au and 9.89 g/t Ag for 2.7 Moz gold and 16.15 Moz silver.
Titan completed approximately 22,400 metres of resource drilling at Cerro Verde since the previous estimate, confirming strong continuity of mineralisation and identifying new zones of epithermal and porphyry-hosted gold-silver mineralisation.
The updated project-wide resource also includes the Iguana, Trapichillo and Papayal deposits, which remain unchanged from the July 2023 estimate and together contribute 1.19 Moz of gold and 9.94 Moz of silver.
Importantly, mineralisation across the Dynasty system remains open laterally and at depth, with Titan planning a 30,000-metre drilling campaign aimed at further resource growth and upgrading confidence categories ahead of future development studies.
A notable portion of the resource occurs near surface, with 47 % of the Cerro Verde resource within the top 100 metres and 76 % within the top 200 metres, supporting the potential for open-pit mining.
The project is also positioned for potential staged development, with oxide mineralisation accounting for 734,000 ounces of gold, which could support a low-cost startup scenario leveraging regional processing infrastructure.
CEO Commentary
Titan Minerals CEO Melanie Leighton said:
“We are very pleased to have delivered substantial growth at the Dynasty Gold Project, with an increase of 25 % in contained gold ounces from the previous July 2023 MRE. The MRE update comes after 12 months and ~22,400 m of targeted resource expansion drilling, implying that ~30 oz has been added per drill metre, which is an impressive result and a credit to our dedicated geology team in Ecuador!”
“Latest drilling which has been incorporated into the MRE update has enhanced our understanding of mineralisation controls at Dynasty, while also highlighting the remarkable predictability of the mineralisation, as demonstrated by infill and extensional drilling.”
“The MRE update features the addition of wide and high-grade depth extensions at the Brecha-Comanche prospect and extensive zones of porphyry hosted gold-silver mineralisation at the Kaliman prospect. What’s even more exciting is that Mineral Resources remain open and have substantial room to grow.”
“Titan’s geology team have been busy finalising a 30,000 m drilling campaign to target continued resource growth and conversion. We look forward to the drill rigs kicking off again next week, with the geology team excited to test several compelling epithermal and porphyry targets that have never been drilled.”
Next Steps
Titan plans to commence the next drilling phase imminently, targeting:
- Further resource expansion at Cerro Verde
- Conversion of Inferred resources to Indicated
- Testing of new epithermal and porphyry targets across the broader Dynasty system
The company believes the scale and growth potential of the Dynasty project positions it as a significant emerging gold development opportunity within Ecuador’s rapidly growing mining sector.