Dynasty Gold Drilling Yields 17.5m at 2.5 g/t Au; Linderos JV Nears 10,000m Milestone
Titan Minerals reports significant drilling progress and metallurgical breakthroughs at its Dynasty Gold Project, while JV partner Hanrine accelerates Linderos Copper drilling. The company strengthens its balance sheet with a $25.7 million capital raise and clears debt.
- Dynasty Gold Project delivers multiple high-grade drill intercepts confirming resource growth potential
- Preliminary metallurgical testwork shows >90% gold recoveries using conventional processing
- Hanrine progresses 7,105m drilling at Linderos Copper Project, nearing 10,000m milestone to earn 25% interest
- Titan completes A$20 million placement and raises A$5.7 million from options conversion
- Company is now debt free with A$17.2 million cash balance, supporting ongoing exploration and development
Dynasty Gold Project: Expanding the Resource Base
Titan Minerals Limited (ASX: TTM) has reported a productive March quarter at its flagship Dynasty Gold Project in southern Ecuador. The company completed 31 diamond drill holes totaling 7,970 metres of a planned 10,000m resource extension program, with a focus on the Cerro Verde and Iguana prospects. The drilling campaign has returned multiple significant intercepts, including a standout 17.5m at 2.5 g/t gold and 8.6 g/t silver at depth, and a shallow high-grade zone of 2.9m at 21.9 g/t gold, confirming substantial lateral and vertical extensions beyond current resources.
These results reinforce Titan’s view that Dynasty’s existing 3.1 million ounce gold and 22 million ounce silver resource can be materially expanded. Notably, new mineralisation zones such as the “Koala” vein have been identified, presenting fresh targets for resource growth. Drilling at Iguana also validated historical data with improved grades, enhancing geological confidence in the resource base.
Metallurgical Testwork: De-risking Processing Pathways
Complementing the drilling success, preliminary metallurgical testwork has delivered encouraging results. Oxide ores from Cerro Verde achieved gold recoveries between 85-88% using conventional cyanide leach circuits, while sulphide ores demonstrated even higher recoveries of 91% gold through flotation and oxidation processes. These findings confirm that Dynasty ores are amenable to standard processing techniques, a critical milestone that reduces project risk and supports future economic assessments.
Further optimisation work is planned to enhance recoveries and refine processing flowsheets, with the potential to improve silver recoveries and reduce operational costs. This metallurgical progress is timely as Titan prepares for a mid-2025 Mineral Resource update and parallel scoping study workstreams.
Linderos Copper Project: JV Partner Advances Drilling Milestones
At the Linderos Copper Project, Titan’s joint venture partner Hanrine (a subsidiary of Hancock Prospecting Pty Ltd) has made solid headway on its earn-in drilling commitments. During the quarter, Hanrine completed 7 holes for 7,105 metres, progressing towards the second earn-in milestone of 10,000m to secure an additional 25% interest. The drilling campaign is expected to conclude in Q2 2025, with a subsequent 15,000m program planned to earn a further 21% stake.
Titan expressed satisfaction with Hanrine’s operational execution and the rapid advancement of the program, which could unlock a globally significant porphyry copper discovery. Assay results from the initial holes are under review, with market updates anticipated soon.
Financial Position Strengthened Amid Exploration Progress
Financially, Titan Minerals bolstered its position by completing a A$20 million placement in December 2024, supported by major shareholders including Tribeca. Additionally, the conversion of over 16 million options raised A$5.7 million during the quarter. The company has fully repaid its loan facility, becoming debt free with a robust cash balance of A$17.2 million (US$10.8 million) at quarter end.
This strong balance sheet underpins Titan’s aggressive exploration and development plans across its Ecuadorian portfolio. CEO Melanie Leighton highlighted the company’s readiness to capitalise on the surging gold price, which recently surpassed US$3,200 per ounce, positioning Titan for substantial growth in both gold and copper assets.
Looking Ahead: Drilling, Resource Updates, and Scoping Studies
Looking forward, Titan plans to resume Dynasty resource drilling in late April 2025, aiming to complete the 10,000m program and deliver assay results for pending holes. Exploration drilling targeting new gold and copper porphyry systems is slated for early Q2. The company targets a Mineral Resource update and scoping study by mid-2025, which will be pivotal in advancing the project’s development pathway.
Meanwhile, Hanrine’s Linderos drilling campaign will continue with the third earn-in milestone drilling expected to commence in Q3 2025, potentially increasing their interest to 51%. These coordinated efforts reflect Titan’s strategic approach to unlocking value across its portfolio.
Bottom Line?
Titan Minerals is well-funded and drilling ahead aggressively, setting the stage for a transformative resource update and potential new discoveries.
Questions in the middle?
- What will the upcoming assay results reveal about the deeper extensions at Cerro Verde and Iguana?
- How will further metallurgical optimisation impact the economic viability of the Dynasty Gold Project?
- What are the implications if Hanrine’s Linderos drilling confirms a major copper porphyry system?
