October 27, 2022
Titan Minerals Ltd. (ASX:TTM, Not Rated, Timothy Lee) provided an update on the maiden drill program at its Copper Ridge porphyry prospect, located within its 100%-owned Linderos project in southern Ecuador. The company has now completed four diamond drill holes at the Copper Ridge prospect, which were drilled to an average depth of 500m. All four holes encountered wide intervals of porphyry-style disseminated and vein-hosted sulphide mineralization from near surface. We note that the sulphide mineralization here consists of chalcopyrite, pyrite, molybdenite, pyrrhotite, and magnetite, and is disseminated in groundmass and within quartz veinlets. Textures have also indicated multiple generations of mineralization, with a later Cu-Au event overprinting the older Cu-Mo mineralization. Two more holes are now being planned at the program. Moving forward, Titan will evaluate results of the initial ~3,000m program, and decide if it should advance the program with follow-up drilling. In our view, although assays remain pending (first batch expected in mid-November), these are positive initial results that indicate the typical signs of a porphyry Cu-Mo-Au system with size potential. More detail on Titan’s recent surface channel sampling, soil geochemistry, and drilling results at its Linderos project are available here and here. Read more
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