Titan Minerals

Further Copper-Gold Porphyry Mineralisation Intersected From Surface At Copper Ridge

Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to provide results from the remaining six drill holes from its maiden eight hole diamond drilling campaign at the Copper Ridge Porphyry prospect at the Linderos Project in southern Ecuador.


Key Highlights include:

  • Additional long intervals of porphyry copper style mineralisation intersected from surface in diamond drilling at Copper Ridge, with significant results including:
    • Hole CRDD22-006:
      • 72m grading 0.4% Cu Eq1 from 21m, and
      • 51m grading 0.4% Cu Eq from 373m, and
      • 22m grading 0.5% Cu Eq from 524m
      • Within a broader intersection of 558m grading 0.2% Cu Eq from surface to end of hole, ending in mineralisation.
    • Hole CRDD22-004:
      • 186m grading 0.3% Cu Eq from 196m, which also contains a gold rich zone of 80m grading 0.4% Cu Eq from 286m
      • Within a broader intersection of 344m grading 0.2% Cu Eq from 38m to end of hole, ending in mineralisation.
    • Hole CRDD22-007:
      • 88m grading 0.3% Cu Eq from 266m
      • Within a broader intersection of 172m grading 0.2% Cu Eq from 196m to end of hole, ending in mineralisation.
  • Higher tenor porphyry mineralisation intersected in CRDD22-003 (76m grading 0.5% Cu Eq2) and CRDD22-006 (22m grading 0.5% Cu Eq) provide evidence that Copper Ridge has potential to host higher-grade copper and gold mineralisation.
Titan’s CEO Melanie Leighton commented:

“These results wrap up the first drill program at our Copper Ridge prospect within our Linderos Project where outcropping porphyry copper style mineralisation has been discovered, with drilling now confirming a substantial copper-gold porphyry system from surface.”

“This initial of program of eight holes has returned highly encouraging results and our analysis highlights the potential for both lateral and depth extensions, as we vector into what we believe is the core of the porphyry system.”

“Future drill plans are being designed to intersect the earlier-phase, higher-grade copper-gold porphyry mineralisation and we are excited to soon be underway with our next phase of drilling at Copper Ridge.”

“It’s important to appreciate that copper grades returned from this initial campaign of drilling compare favourably with peer porphyry deposits which are currently advancing through development and earmarked for large-scale production in the near future.”

“Most notably, SolGold’s Alpala porphyry deposit contains a global resource of 3.2Bt grading 0.49% Cu Eq (0.35% Cu, 0.23g/t Au, 1.0g.t Ag) for 9.9Mt of copper, 21.7Moz gold and 92Moz silver, and a proposed mining cut-off grade of 0.21% Cu Eq3, with its higher-grade core commencing at a depth of 600m.”

“Titan shareholders can expect strong news flow in what promises to be a very busy and exciting 2023.”

Plate 1: CRDD22-006 337m. Diorite porphyry, early potassic (green grey sericite) with overprinting of phyllic alteration, sulphide mineralisation of chalcopyrite (cpy) volume 5%, pyrite (py) volume < 1%.

Linderos Project– Copper Ridge Porphyry Prospect Remaining Drilling Results

In November 2022, Titan completed a maiden campaign of eight diamond drill holes totalling 3,700m at the Copper Ridge Porphyry prospect (Copper Ridge) on its Linderos Project in southern Ecuador. Drilling was designed to target porphyry mineralisation highlighted by surface mapping, soil and channel sample geochemistry, and limited shallow historical drilling undertaken at the prospect.

Assay results have been received for the remaining six diamond drill holes, adding further wide intersections of disseminated and vein hosted copper-molybdenum±gold±silver mineralisation from surface to approximately 500 metres vertical.

Mineralisation is hosted within a diorite porphyry, with vein hosted and disseminated chalcopyrite- pyrite-pyrrhotite-molybdenite, and secondary biotite plus green-grey sericite and pervasive quartz- alkali feldspar defining an early to transitional potassic alteration.

Pleasingly, six out of the eight diamond drillholes were mineralised to the end of hole, highlighting strong potential for lateral and depth extensions.

Evidence that the Copper Ridge porphyry has the potential to host higher-grade copper and gold mineralisation is supported by intersections including 76m grading 0.5% Cu Eq from 132m in CRDD22- 003 and 22m grading 0.5% Cu Eq from 524m in CRDD22-006.


Click here for the full ASX Release

This article includes content from Titan Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Cautionary Statements

This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the completion of the Offering and the timing thereof, and the anticipated use of proceeds of the Offering are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "should" or "would" or occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will complete the Offering on the terms disclosed, that the Company will receive all necessary regulatory approvals for the Offering, that the Company will use the proceeds of the Offering as currently anticipated; and assumptions relating to the state of the financial markets for the Company's securities. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company may not be able to raise funds under the Offering, as currently anticipated, that the Company may fail to receive any required regulatory approvals for the Offering, that the Company will not use the proceeds of the Offering as anticipated, market volatility, unanticipated costs, changes in applicable regulations, and changes in the Company's business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

SOURCE Quimbaya Gold Inc.

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