Titan Minerals says mapping and sampling has confirmed several new high-grade gold and silver resource growth targets at its Papayal and Trapichillo prospects that form its Dynasty gold project in Ecuador.
Rock-chip samples collected from Papayal returned some impressive figures, including one grading 43.1 grams per tonne gold and 1500g/t silver. A second sample from the prospect returned 26g/t gold and 155g/t silver, while a third recorded 22.7g/t gold and 689g/t silver.
Samples collected from Trapichillo also delivered solid results, with one grading 26.4g/t gold and 25.2g/t silver. Additional samples include 14.5g/t gold and 100g/t silver, while another showed 9.96g/t gold and 240g/t silver.
Management says several resource extensions and new exploration target areas have been highlighted by the recent mapping. in addition to the soil and rock-chip geochemistry.
In July, Titan unveiled a maiden mineral resource for Dynasty of 43.54 million tonnes at 2.23g/t gold and 15.7g/t silver for a sizeable 3.12 million gold ounces and 21.98 million ounces of silver.
Of the total resource, the Papayal target hosts 2.9 million tonnes at a solid 3.8g/t gold and 39.31g/t silver for 360,000 gold ounces and 3.71 million ounces of silver. The Trapichello prospect has a relatively low tonnage of 900,000 tonnes, but contains impressive grades of 4.54g/t gold and 50.85g/t silver for 130,000 gold ounces and 1.43 million ounces of silver.
Titan has been focused on unlocking the potential at the Papayal and Trapichillo prospects at the Dynasty Project, with these latest surface mapping and geochemistry results further confirming the potential for substantial resource growth. Importantly, most of the new high-grade rock chip results with grades in excess of 20g/t Au have been returned from new veins discovered at Papayal and Trapichillo and highlight the tenor of mineralisation we are targeting as part of our resource growth strategy.
The company says the Papayal and Trapichillo vein systems exhibit extremely high gold and silver grades despite relatively low tonnes, which is largely a function of sparse drilling and lack of exploration. Recent exploration work programs have largely focused on the prospects, which lie at the north-eastern end of the 9km-long vein system at Dynasty.
The project is an advanced-stage exploration play in the Loja Province of southern Ecuador, comprising five concessions totalling 139 square kilometres. It includes three concessions that received Environmental Authorisation in early 2016 and which are fully-permitted for exploration and small-scale mining.
Management says further exploration work is being carried out in the form of mapping and trenching to identify the primary source of soil geochemical anomalism and to understand mineralised vein widths, orientations and any structural intersection points that may represent high-grade, wide-plunging ore shoot targets.
Titan believes trenching at its newly-defined target areas will provide a much better geological understanding, with observations and information to be incorporated into the design of drilling to ensure an optimal testing program. It says the high-grade vein systems represent immediate targets and will feature in resource growth drilling programs planned to begin at Dynasty this month.
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