Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to announce the results of a recently completed 3-dimensional Induced Polarisation (3D IP) geophysical survey at the Company’s 100% held Linderos Project (Linderos) in southern Ecuador.

Key Highlights

• 2-kilometre diameter IP chargeability anomaly indicates that the Copper Ridge porphyry and Meseta epithermal gold prospects are part of the same system, and that additional porphyry mineralisation potentially sits just below Meseta
• Potential for much larger porphyry system unveiled, with IP chargeability mapping phyllic alteration well beyond currently defined Copper Ridge porphyry mineralisation
• Next phase of drilling being planned to test lateral and depth extensions at Copper Ridge Porphyry and the potential for porphyry mineralisation below Meseta
• Regional generative exploration continues across broader project with other prospect areas being advanced with detailed mapping and surface geochemistry programs

“Results of the Linderos Project IP survey have confirmed our hypothesis that the Copper Ridge porphyry and Meseta epithermal gold mineral systems are intimately associated.

“A 2-kilometre chargeability anomaly has highlighted phyllic alteration/ sulphide mineralisation associated with a porphyry system to extend from Copper Ridge, all the way to the Meseta epithermal gold system in the north.

“This is a very exciting development for Titan, implying a much larger porphyry system than previously recognised by surface mapping, geochemistry, and drilling to date.

“The Company looks forward to drill testing the newly defined larger porphyry system in early 2024.”

Left: Titan geologists undertaking geological mapping at the Copper Ridge prospect, Right: Zissou geophysicist undertaking IP survey at the Copper Ridge prospect.

IP Survey Unveils Large-Scale Porphyry Mineralisation Footprint

The 3D IP survey was completed by Zissou Peru (Zissou) and was designed to map the distribution of subsurface sulphide mineralisation and phyllic (pyrite) alteration associated with porphyry systems. The 3DIP survey covered an area of approximately nine square kilometres and included the Copper Ridge Porphyry (Copper Ridge), Meseta Gold (Meseta), Capa Rosa and Nueva Esperanza prospects.

Importantly, the 3D IP survey was successful in unveiling a much larger porphyry system than previously recognised in surface mapping, geochemistry, and limited drilling. It is evident from the IP survey that the Copper Ridge Porphyry system continues to the north and manifests beneath the Meseta Gold prospect (refer to figure 1). This is an exciting revelation and confirms the Company’s view that Linderos has the potential to host a much larger porphyry system.

A strong north-northwest trending chargeability anomaly was also identified on the eastern side of Copper Ridge at approximately 350 metres depth. This chargeability anomaly coincides with the end of drillholes CRDD22-003 (Figure 2) and CRDD22-006 (Figure 3), which both ended in strong copper mineralisation.

Copper mineralisation in these holes is observed to be associated with disseminated chalcopyrite (0.8%), pyrrhotite (2.5%), pyrite (0.4%) in CRDD23-003 and chalcopyrite (0.7%), pyrite (0.4%) in CRDD23-006.

The interpretation at the time of drilling these holes in late 2022, was that a larger porphyry copper intrusion could potentially be sitting just below these drillholes, with this now being verified by the 3DIP results.

This additional layer of geophysical information has further endorsed the Company’s view that we have only just begun to scratch the surface of the porphyry potential at the Linderos Project. This view is further reinforced by the presence of phyllic alteration and green-grey sericite overprinting potassic alteration.

Titan’s geology team continue to expand their understanding of the porphyry system with further detailed mapping and surface geochemistry being collected and the phase 2 drill design being refined to accommodate this new information.

The Linderos Project also has several other areas of interest which have been identified from historical data and subsequently confirmed by geological data collected by Titan. These areas of significance require follow up work, with the geology team currently conducting mapping and surface geochemical sampling over a number of other high priority targets at the project.

The Company looks forward to providing further updates as results are received.

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