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Recent exploration activity at Titan Minerals Limited (Titan, or the Company (ASX: TTM) Linderos Project in Southern Ecuador has continued to show excellent copper and coincident molybdenum results from channel sampling at the Copper Ridge porphyry copper target. The recently completed soil geochemistry results have highlighted a classic zoned doughnut shaped anomaly approximately 750m in diameter with a central core of copper, molybdenum, and tungsten ringed by an outer halo of selenium, tellurium and bismuth.
Detailed stratigraphic, alteration and vein abundance mapping completed by Titan’s technical team, coupled with geophysical and geochemical datasets have defined compelling targets for a first phase of drilling at Copper Ridge.
Significant results returned from Copper Ridge Prospect include:
- 46m @ 0.24% copper, 9.71ppm molybdenum in channel CRC040
- 32m @ 0.21% copper, 3.91ppm molybdenum in channel CRC051
- 26m @ 0.22% copper, 9.76ppm molybdenum in channel CRC037
- 16m @ 0.23% copper, 8.94ppm molybdenum in channel CRC038
- 11.8m @ 0.22% copper, 13.14ppm molybdenum in channel CRC041
- 14m @ 0.19% copper, 8.31ppm molybdenum in channel CRC030
At the nearby, Meseta Gold Prospect exceptional gold results have also been returned from channel and rock chip sampling in what is shaping as a significant high-sulphidation epithermal gold system.
Significant results returned from Meseta Gold Prospect include:
- 4.5m @ 12.69g/t gold and 3.48g/t silver in channel MGC22-025
- 2.9m @ 9.81g/t gold and 2.69g/t silver in channel MGC22-024
- 3.5m @ 7.08g/t gold and 120.77g/t silver in channel MGC22-018
- 10.0m @ 5.46g/t gold and 261.96g/t silver in channel MGC22-019
- 2.5m @ 6.91g/t gold and 248.76g/t silver in channel MGC22-016
- 3.0m @ 7.60g/t gold and 2.43g/t silver in channel MGC004
- 2.5m @ 4.85g/t gold and 130.48g/t silver in channel MGC22-017
- 4.3m @ 4.75g/t gold and 4.62g/t silver in channel MGC22-023
- 4.1m @ 4.51g/t gold and 6.04g/t silver; and 12.9m @ 2.27g/t gold and 2.87g/t silver in channel MGC010
- 0.5m @ 5.95g/t gold and 77.80g/t silver in channel MGC22-015
Preliminary reconnaissance exploration work was also completed at the Capa Rosa and Loma Alta Prospects where highly encouraging gold and silver results were returned from rock chips taken from outcropping epithermal veins.
Significant results returned from Capa Rosa and Loma Alta include:
- 16.05g/t gold, 197.00g/t silver from rock chip TM029553
- 13.00g/t gold, 15.65g/t silver from rock chip TM015215
- 12.05g/t gold, 88.50g/t silver from rock chip TM029554
- 1.05g/t gold, 16.25g/t silver and 0.315% copper from rock chip TM015206
The Company is very encouraged by the potential revealed from detailed surface mapping and geochemical sampling completed by its technical team at the Linderos Project. These significant new results paired with robust geological datasets have highlighted several compelling gold and copper-molybdenum targets that warrant further work.
From Titan’s re-logging of historical core, recent petrology, geological mapping and geochemical studies, it is apparent that the higher-grade gold values at Meseta are associated with massive-sulphide polymetallic veins. Extensive haloes of lower grade gold mineralisation intersected in most drilling and channel sampling conducted to date is consistently related with free gold occurring in the intensely altered wallrock hosting extensive quartz veins of varying intensity.
This interpreted overlap of metal deposition at the interface of the overlapping Meseta gold and Copper Ridge porphyry targets has a potential economic impact on development of a larger mineralised system. The associated mineralisation types define potential for discovery of higher-grade copper-molybdenum mineralisation at depth beneath both the Copper Ridge and Meseta Gold areas suggesting significant size potential in un-tested extensions to the Copper Ridge porphyry system.
Titan is well advanced in progressing the Linderos Project to the next stage, with preparations for initial drilling to test the potential of these high priority targets underway.
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.
A mining asset’s jurisdiction is often more critical than the deposit itself. A mining-friendly and politically stable jurisdiction allows mining companies to develop assets to their full potential without interruption or shifting regulations. Conversely, assets in riskier jurisdictions face several risks: becoming nationalized, significantly increased royalties, or political upheaval.
The Fraser Institute, a globally recognized research organization, recently released its annual report on top mining jurisdictions in the world. Western Australia earned the top spot for mining investments due to geologic attractiveness and government policies. The Australian state produces roughly 37 percent of the world’s iron, and its mining industry accounts for approximately half of all national gold experts. Mining companies with assets in Western Australia are in an excellent position to become world-class operations.
Breaker Resources (ASX:BRB) is an exploration and development mining company with a rapidly growing 1.7 million ounce gold resource within a newly discovered gold district in Western Australia, 100km east of Kalgoorlie, in the heart of Australia's gold mining. The company has been focusing on exploration and is now transitioning to developing its assets while continuing drilling to keep expanding the Resource. Breaker Resources has six years of de-risking under its belt by conducting thorough metallurgical tests and comprehensive exploration programs. The company has an experienced management team and significant investors moving its assets towards full development.
The company has accounted for many of the high-risk elements involved with taking an asset from exploration to development. During an interview with INN, Managing Director of Breaker Resources Tom Sanders notes, "The discovery journey takes about seven years, from initial discovery to mine development. We're already six years into that. And all the work we've done indicates a large open project that will transition to underground mining."
Breaker’s flagship asset is the Lake Roe Gold Project, which holds an estimated 1.7 million ounces of gold. To date, the Company has identified a 9-kilometer-long gold system within 50 kilometers of prospective strike. Additionally, the company has a track record of consistent resource growth since 2018, generating one ounce of gold for every $40 spent after 315,00m of RC & diamond drilling.
One of Lake Roe’s key deposits, Bombora, is shaping up as a 3-kilometer-long single open pit operation that will transition to an underground mine. This deposit is the company’s focus for early development, and the ability to transition to underground operations, offering a longer mine life and the ability to blend higher grade ore with material coming from the open pit.
Breaker Resources has two additional projects that add substantial depth and optionality to the Company’s portfolio. The company has a 20 percent free-carried interest in the Manna Lithium Project, with Global Lithium Resources carrying all costs to completion of a positive bankable feasibility study (BFS). Breaker is also entitled to milestone payments of up to $20 million (ASX:GL1). A maiden Mineral Resource of 9.9Mt @ 1.14 percent Li2O was announced on 17 February 2022 and drilling is expected to continue growing the Resource. The Ularring Project located 100km east of Perth, and just 45km east of Chalice’s Julimar project has indications of a large gold-copper system and potential for a nickel-PGE discovery on an untested 20-30 kilometer long ultramafic/mafic belt, with soil anomalies and electromagnetic targets. Both of these projects offer significant exploration upside to Breaker as they develop Lake Roe.
An experienced team leads the company with diverse backgrounds. Peter Cook, non-executive chairman, is a trained geologist with over 35 years of experience in developing gold mines and corporate management. Tom Sanders, managing director, is a geologist with decades of experience in exploration, mining and management within the natural resources sector. Mark Edwards, non-executive director, has over 25 years of experience in resources and corporate law. Additional experienced managers round out the team and build confidence in their ability to lead Breaker Resources towards its ambitions.
- Breaker Resources is an exploration and development mining company with a 1.7Moz gold resource and a portfolio of quality assets in Western Australia, the world’s top mining jurisdiction for investment attractiveness.
- The company has been conducting exploration programs and metallurgical testing that has significantly de-risked its asset portfolio. As a result, the company believes it has addressed the significant high-risk elements involved in taking a project into production.
- Lake Roe Gold, the company’s flagship project, has a track record of consistent resource growth dating back to 2018. It also contains a 9-kilometer gold system within a 50-kilometer prospective strike.
- The company’s other projects have potential to add a lot of value, including the potential to fund a significant component of the capex for a gold development.
- A strong, proven management team with decades of experience leads the company towards its ambitious goals.
Lake Roe Gold Project
Breaker Resource’s 100 percent owned greenfields gold project covers 700 square kilometers and is estimated to contain 1.7 million ounces of gold. The project is located between two operational gold mines and is 100 kilometers east of Kalgoorlie. The company plans to expand the known 1.7 million ounce deposit to develop a large, open pit and underground gold mine.
- Promising Potential Growth: The project contains a 9-kilometer-long gold system still growing along strike and at depth as exploration continues. The primary Bombora gold deposit occurs in a 150-meter-wide zone and starts 5 meters from the surface.
- Interim Resource Estimate Reveals Additional Deposits: The company commissioned an interim resource estimate that expanded the known estimate by 40 percent.
- Open Pit and Underground Resources Still Growing: The open-pit resources are still growing and are currently 7.9 kilometers long and remain open at depth. Additionally, high-grade lodes have been discovered at scale, creating high-grade underground growth for long-term production.
Manna Lithium Project
Breaker’s Resources lithium project is located only 15 kilometers south of its Lake Roe Project. The lithium-bearing pegmatites were discovered while exploring the Lake Roe Project. Additional exploration confirmed the presence of multiple spodumene-rich pegmatites covering a 750-meter by 130-meter area. The project is being explored in partnership with Global Lithium Resources (ASX:GL1).
- Exploratory Drilling Returns Positive Results: Breaker Resources drilled five RC holes and four diamond holes throughout the property. Each hole returned several lithium intercepts with results up to 17 meters at 1.8 percent lithium.
- Assay Results Pending: A follow-up 2,000-meter program of RC drilling was completed in September 2021.
- Significant Deposits Discovered: The known lithium resources on the asset continue to grow and are currently estimated at 10 million tonnes and 1.14 percent lithium. A 20,000-meter RC drilling program has just been completed.
Ularring Gold Project
The Ularring Gold Project covers 228 square kilometers and is roughly 100 kilometers away from Perth. The asset has polymetallic deposits, including gold-copper and nickel-PGE. The project has received minimal historical exploration and presents another opportunity for significant growth. Breaker Resources is currently exploring the asset and has identified drill targets.
- Drill Targets Identified: The company has identified nickel-PGE drill targets in an undrilled 20-kilometer mafic-ultramafic belt. Drilling is scheduled for late Q2 2022.
- Encouraging Historical Results: Portions of the asset have received historical attention. Results include 61 meters at 0.81 g/t gold and 0.18 percent copper. However, these results were not significant enough to establish the size and potential of the deposit.
- Situated on the Long Shear Zone: The project contains a 7-kilometer-long trending shear zone with copper-gold soil anomalies. Known as the Centre Forest, a groundwater tungsten anomaly has also been discovered in the area.
Peter Cook - Non-Executive Chairman
Peter Cook is a Geologist (BSc (Applied Geology)) and a Mineral Economist (MSc (Min. Econ)), MAusIMM with over 35 years of experience in the field of exploration, project, operational and corporate management of mining companies. He is currently Non-Executive Chairman of Westgold Resources Limited (ASX: WGX) (“Westgold”), Non-Executive Chairman of Castile Resources Limited (ASX: CST) (“Castille”) and Non-Executive Chairman of Titan Minerals Limited (ASX: TTM). Over the past two decades, Cook has founded and served as Managing Director or Chairman on many Boards and successful miners and developers in gold and base metals. He has served and continues to serve as Chairman of Castile, Managing Director of Westgold and later as its Executive Chairman before recently stepping back from all executive roles. He also served as Non-Executive Chairman of Nelson Resources Limited (ASX: NES) until February 2019. Over his distinguished career, he has been recognised by industry being awarded the GMJ Mining Executive of the year in 2001, the Asia – Mining Executive of the year in 2015 awarded at the Mines and Money Conference in Hong Kong in 2015, the Mining News CEO of the Year award in 2017 and the Gavin Thomas Mining Award in 2019.
Tom Sanders - Managing Director
Tom Sanders is a geologist with over 35 years’ experience in the Australian mining industry. He has extensive experience in project generation, exploration, feasibility, mining and corporate management with a strong emphasis on gold and nickel in Western Australia. Sanders has published works on nickel and gold in WA, in addition to regional mineralisation studies on the eastern Kimberley region under contract to the Geological Survey of WA. Sanders has managed a large number of exploration projects, several of which he progressed into production during a 23 year period based in the Kalgoorlie region in WA. He has extensive production experience on several underground and open pit gold and nickel operations. Sanders was responsible for identifying Breaker’s initial projects and guiding the Company to a successful ASX listing in 2012. Sanders previously founded Navigator Resources Limited and steered that company from initial project acquisition to ASX-listing. He then managed the building of a two million ounce gold resource inventory through discovery and acquisition and identified the Cummins Range rare earth resource.
Mark Edwards - Non-Executive DirectorMark Edwards is a solicitor with over 25 years’ experience in resources and corporate law. Edwards has advised a range of ASX-listed companies active in the resources sector. He has advised on a range of resources projects in Australia and overseas, including significant nickel, gold and iron ore projects. His professional work has involved him in many facets of the resources industry ranging from ASX listings, exploration and mining joint ventures, project development agreements and project financing.
Mike Kitney - Non-Executive Director
Mike Kitney is a process engineer with over 40 years’ experience in the mining industry. He has participated in the development and construction of projects throughout Australia, Africa, south east Asia and the former Soviet Union. Kitney’s particular strengths are in production and mineral processing, all aspects of environmental management, project evaluation and assessment and leadership of interdisciplinary project teams. He brings to the Company vast project development expertise and practical experience in commissioning new projects. Kitney has previously held senior technical and project management positions with Alcoa Australia Limited, Minproc Engineers Limited, Property Company of London plc, British Phosphate Commissioners, Nelson Gold Corporation Limited and Avocet Mining plc. He is most recently the Chief Operating Officer of Kasbah Resources Limited and a technical consultant to Prospect Resources Limited.
Linton Putland - Non-Executive Director
Linton Putland holds degrees in mining engineering (Bachelor of Engineering, Western Australian School of Mines) and a masters in science (Mineral Economics, Western Australian School of Mines) and has over 30 years’ experience in mining operations, joint ventures and corporate management, in Australia, Africa and the Americas over a wide range of commodities. Putland is principal of LJ Putland & Associates, a private mining consultancy company which was founded in 2002, providing advisory and consultancy services in mining project and company evaluation and due diligence appraisals with a focus on corporate growth. During this period he has also been Managing Director of a privately owned exploration company, with joint venture interests in Africa. Prior to this he held corporate and senior management roles in IAMGOLD, AurionGold, Delta Gold and Pancontinental Mining. Putland is a Member of AusIMM and a Graduate Member of AICD.
Eric Vincent - Non-Executive Director
Eric Vincent is the President of Sarissa Capital, a healthcare-focused activist investment firm. Most recently, he served as the Head of Business Development at Mubadala Capital, the financial investment arm of the sovereign wealth firm Mubadala Investment Company. From 2012 through 2017, Vincent was Chief Executive Officer of Electrum Group. Vincent previously served as President of Ospraie Management, an investment firm focused on commodities and basic industries. From 2007 through October 2009, he served as Chairman of the Board of Directors of the Managed Funds Association, the leading trade association representing the US hedge fund industry. He began his career as an attorney at Cravath, Swaine & Moore and holds a Juris Doctor degree from Harvard Law School and a Bachelor of Arts degree from Williams College. Vincent was previously a member of the Global Markets Advisory Committee of the US Commodity Futures Trading Commission and a member of the Investor Advisory Group of the Public Company Accounting Oversight Board.
Sarah Sutcliffe - Corporate Affairs Manager & Company Secretary
Sarah Sutcliffe has over 10 years’ experience as a corporate governance and compliance professional, primarily in the technology and energy sectors. As well as extensive experience as a Company Secretary, Sarah has also been involved in numerous large company transactions including mergers and acquisitions, joint ventures and capital raisings. She holds a Certificate in Governance Practice and Business Administration and is a Member of the Governance Institute of Australia and Australian Institute of Company Directors.
Alastair Barker - Exploration Manager
Alastair Barker is a geologist with 20 years’ experience in the Australian mineral exploration and mining industry and has worked on a range of gold, platinum, uranium, manganese, nickel, copper and rare earth projects throughout Australia. He has operated successful geological contracting businesses in Kalgoorlie and more recently in the Northern Territory. He has extensive experience in all stages of regional and near-mine exploration project management, particularly in Western Australia, from conceptual targeting and ground acquisition to resource definition and open cut mining geology. He has held Senior Geologist and Project Leader roles with a variety of Australian companies including Thundelarra Exploration Ltd, Navigator Resources Ltd, Mining Projects Group, De Grey Mining Ltd, Croesus Mining NL and Hannans Reward Ltd. Barker has particular strengths in project management and evaluation in remote areas and broad exposure to a wide variety of geological settings and mineralisation styles in Australia. He played a key role at several discoveries including the Turner River Gold Belt and was a key team member at the Kalgoorlie operations of Croesus Mining NL and other mine developments including Mt Monger.
Ecuador is known for its oil exports, but that’s not all the country has to offer. The country hosts gold, copper and silver deposits that have the potential to be developed into world-class mining operations. However, it has historically been difficult for mining companies to explore and develop the country’s resources largely because of its mining laws, which state that the country has the rights and first opportunity to develop every deposit. Despite this, the government has lacked the financing and technical expertise required to explore and fully develop its rich deposits.
Everything changed in 2019 when Lundin Gold (TSX:LUG) acquired a previously abandoned project and reached an agreement with the Ecuadorian government to develop the now-prolific Fruta del Norte Project. It was the country’s first large-scale modern gold mine and remains the largest producing gold mine in the country. Fruta del Norte is largely responsible for doubling Ecuador's mining exports in 2021 to US$2 billion, with the operation surpassing its own forecast. The Chinese-owned Mirador Copper-Gold Project is another large-scale mining operation that also contributed to the country’s record-breaking 2021 mineral exports. Both projects are located in Southern Ecuador.
Now, the Ecuadorian government has seen the power of foreign investment in developing its natural resources. Mining-friendly President Guillermo Lasso is actively encouraging foreign companies to invest in the country’s booming mining industry, which is projected to reach roughly US$4 billion by 2025. Three Canadian-owned mining companies were granted gold concessions and are now in advanced exploration stages: Dundee Precious Metals’ (TSX:DPM) Loma Larga Project, Atico Mining (TSXV:ATY) La Plata Project, and Adventus Mining’s (TSXV:ADZN) Curipamba Project.
Ecuador has also seen the emergence of powerhouse mining companies such as BHP-Newcrest jointly acquiring 15 percent of Sol Gold. Franco Nevada paid U$150 million to Sol Gold for a royalty over that project, which demonstrates long term confidence that Ecuador is a safe place to invest.
Other notable entrants are Hancock Prospecting, Fortescue Metal Groups (OTCQX:FSUMF) and First Quantum (TSX:FM), all searching for major mining opportunities not presently found in many other countries globally.
Another good sign is the presence of other mining companies now exploring and developing assets within the country, such as the Adventus Mining’s (TSXV:ADZN) Santiago project in south-central Ecuador and Cornerstone’s (TSXV:CGP) two wholly-owned exploration projects in Southern Ecuador. Cornerstone is also exploring its Caña Brava Project and Bramaderos Project in partnership with Sunstone Metals (ASX:STM).
The presence of all of these miners means one thing: Ecuador is finally open for business.
Titan Minerals (ASX:TTM) is focused on developing its gold and copper projects in Southern Ecuador. The company has four projects in Ecuador, each providing fresh opportunities to develop the country’s next large-scale mining operation. All of Titan Minerals’ projects are located in Ecuador’s Andean region, the same region as the two prolific mining operations currently comprising the majority of Ecuador’s mining exports. A management team with direct experience in developing large-scale gold mines is at the helm of Titan Minerals, creating confidence in its ability to capitalize on its assets.
The company’s flagship project, Dynasty Gold, has a resource estimate (in full accordance with Canadian NI-43-101) totalling 2.1 million ounces of gold averaging 4.5 g/t. The project is only 25 kilometers away from the Peruvian border, which opens up access to Peru’s modern processing facilities and robust trade routes. The company has released its own assay results that corroborate aspects of the foreign resource estimate, confirming high-grade gold and silver deposits throughout the project’s area.
Recently, Titan Minerals released additional exploratory results from an additional 30 diamond drill holes throughout Dynasty Gold, which further confirmed the presence of high-grade gold and silver up to a depth of 300 meters. The company is working towards a resource estimate that’s in full accordance with the JORC code.
It’s quite unusual for a junior mining company to possess an asset with millions of ounces of gold. In a recent interview, Executive Director Matthew Carr explained why the company is so optimistic about its holdings. He stated, “The interesting thing about Ecuador is all the concessions that have been granted. From a real estate point of view, it’s awfully difficult for anyone to get in and pick up new ground. It’s certainly looking at everyone who has ground and what they’re sitting on. From our perspective, these types of assets you don’t see in Australia junior. It’s rare that a junior has the types of assets that we’ve got, and it’s starting to catch the attention of bigger players in the market.”
Titan Minerals has assembled an experienced team of managers and experts to help the company reach its full potential. Peter Cook, non-executive chairman, brings over 35 years of experience from roles throughout the mining industry, such as field exploration and corporate management. Michael Skead brings a combined 60 years of experience and formal training in mining exploration, evaluation and development. Matthew Carr, executive director, and Nick Rowley, non-executive director, both have a strong background in fundraising and corporate finance.
The company has also brought on experts in operating in Ecuador. Freddy Villao, vice president of government affairs in Ecuador, is a lawyer with 15 years of experience in Ecuador. He is helping the company navigate Ecuador's mining laws. Pablo Morelli, exploration manager in Ecuador, is a geologist with direct experience with copper-gold and gold-rich porphyry systems.
- Titan Minerals is focused on underdeveloped and undervalued gold and copper assets in Southern Ecuador’s Andean region.
- Other mining companies have already had success in Southern Ecuador and serve as a strong indication of what’s possible for Titan Minerals.
- The company’s flagship project, Dynasty Gold, has a foreign resource estimate of 2.1 Moz of high-grade gold, with the company’s assay results corroborating the presence of high-grade gold and silver deposits.
- Titan Minerals has capitalized on Ecuador only recently opening its doors to foreign investment to capitalize on its natural resources. The company now has four promising projects in underexplored areas.
- A management team with direct experience in gold exploration and development, including a lawyer with expertise in Ecuadorian law, builds confidence in the company’s ability to capitalize on its holdings.
Dynasty Gold Project
Dynasty Gold Project is the company’s flagship project and Titan Minerals is focused on further exploration with an eye on future development. A previous resource estimate indicated the presence of 2.1 million ounces of gold with an average grade of 4.5 g/t gold. The 2.1Moz sits in the top 150 meters from the surface. New drilling indicates that the system runs down dip to over 300 meters. The project is in the advanced stage of exploration and consists of five concessions totaling 138 square kilometers.
- Ongoing Diamond Drilling: Additional exploration is underway to create a resource estimate that’s fully JORC compliant. The company released encouraging assay results in Q1 2022 that further confirm the presence of high-grade gold and silver to a depth of 300 meters.
- The Cerro Verde Prospect Shows Potential for Additional Gold Mineralization: Sampling of the Cerro Verde prospect has identified a wider zone of mineralization that was not identified by previous explorers, which may mean Dynasty Gold contains even more gold than previously estimated. Two cross-cut veins that only had shallow channel sampling have been revisited to reveal deeper mineralization with high-grade gold and silver with results up to 7.25 g/t gold at 8 meters. They recently intersected 102 meters at 1.48g/t in the porphyry stockwork of the Kaliman Porphyry — a very interesting development. This could materially change the size and scope of this project, representing a discovery within a bigger system.
- The Papayal Prospect Indicates Additional Gold Mineralization: Much like the Cerro Verde prospect, the company’s updated exploration assays indicate better intercepts of the known quartz vein, such as 2.59 meters at 18.3 g/t gold and 4.48 meters at 8.33 g/t gold. Silver is also present in the updated exploration results, reaching an impressive 768 g/t silver. This area has high grade epithermal gold veins.
Titan Minerals is simultaneously further exploring its Linderos Project, which contains high-grade gold at-surface mineralizations. The project is 25 kilometers southwest of the Dynasty Gold Project. Linderos contains four contiguous concessions that total 143 square kilometers.
- Encouraging Geology: The Linderos Project is located in a major flexure of the Andean Terrane and sits on a corridor of mineralization that extends from Peru and is associated with the early to late Miocene aged intrusions, which are known throughout Ecuador to contain porphyry copper and epithermal gold deposits.
- Exploration Campaign Already Underway: Titan Minerals has begun an exploration campaign that makes use of multiple modern exploration techniques, such as heliborne geophysics, ground IP geophysical surveys and surface geochemistry.
- Targeting Two Prospects to Confirm Historic Results: Both the Copper Ridge and Meseta Gold camp prospects have encouraging historic exploration results, indicating up 55.25 meters at 0.33 percent copper and 21 meters at 18.5 g/t gold respectively. Meseta Gold camp sits on the fringe of the outcropping porphyry at Copper Ridge.
- Linderos is a wildcard poised to be a major new discovery similar to Solaris and Sol gold in Ecuador. Drilling is anticipated between April and May 2022.
Copper Duke Project
Believed to have the potential to become a Tier One asset, Copper Duke has outcroppings that indicate a gold-rich porphyry copper system. The project contains 13 concessions across 130 square kilometers and is located a mere 18 kilometers east of the Dynasty Gold project. Titan Minerals is currently conducting systematic soil survey sampling, which is 40 percent complete.
- Multi-Phase Outcropping Targets: Copper Duke contains a porphyry copper-gold mineralization as well as epithermal gold-bearing quartz-magnetite vein systems.
- Encouraging Historic Exploration Results: A 1978 UN drill program resulted in two diamond drill holes reaching 440 meters and returned encouraging results: 33.1 meters at 2.5 g/t gold from a 9-meter drill depth and 45.4 meters at 1.9 g/t gold from the surface.
- Exploration Results Indicate Tier One Potential: Airborne magnetic surveys and 3D geophysical modeling of the results reveal characteristics that are similar to Tier One assets around the world located in similar porphyry districts.
- Nearby Highway for Future Transport: The project is located 5 kilometers away from the Pan American Highway, which will facilitate streamlined transportation once the project is in full production.
Jerusalem Gold Project
The small yet encouraging Jerusalem Gold Project contains one concession over 2.25 square kilometers. The project is believed to contain millions of ounces of high-grade gold and silver based on historic results. It contains high-grade mineralizations from the surface level.
- Encouraging Historic Results: Historic foreign resource estimates indicate the presence of 1.2 million ounces of gold at 14.5 g/t, alongside 8.5 million ounces of silver at 98 g/t. The estimate was based on the results of 47 diamond drill holes totalling 13,838 meters.
- Located Between Two Prolific Gold Mines: The Jerusalem Gold Project is 40 kilometers south of Lundin Gold’s famous Fruta del Norte deposit, which hosts 13.9 million ounces of gold. Additionally, the project is contiguous with Lumix Resources’ Condor Project which contains 6.6 million ounces of gold.
- Exploration Targets Identified: Multiple high-grade targets have been identified but remain unexplored.
Peter Cook - Non-Executive Chairman
Peter Cook is a Geologist with over 35 years of experience in the field of exploration, project, operational and corporate management of mining companies. Over the past two decades, Cook has founded or served as Managing Director or Chairman for many successful mining and resource development companies in gold and base metals. He is currently the non-executive chairman of Westgold Resources (ASX:WGX), where he was previously executive Chairman before recently deciding to step back from all executive roles.
Cook is also the non-executive chairman of Castile Resources (ASX:CST) and served as the non-executive chairman of Nelson Resources (ASX:NES) until February 2019. Over his distinguished career Cook has been recognized by the industry, being awarded the GMJ Mining Executive of the year in 2001, the Asia-Mining Executive of the year award at the Mines and Money Conference in Hong Kong in 2015, the Mining News CEO of the Year award in 2018 and the Gavin Thomas Mining Award in 2019.
Matthew Carr - Executive Director
Matthew Carr is a successful and experienced company director having founded Urban Capital Group. Urban Capital Group is a private equity company with a strong focus on property-backed investment and security. Matthew is also the non-executive chairman of Andina.
Nick Rowley - Non-Executive Director
Nick Rowley is an experienced corporate executive with a strong financial background having previously worked in the financial services industry for over 15 years where he has gained widespread experience in corporate advisory, M&A transactions and equities markets, advising domestic and international institutional sales and high-net-worth individuals. Rowley also advised on the equity financings of numerous ASX- and TSX-listed companies predominantly in the mining and resources sector. Rowley currently serves as non-executive director of Cyprium Metals (ASX:CYM) and Oro X (TSXV:OROX), he is also director of corporate development for Galaxy Resources (ASX:GXY).
Barry Bourne - Non-Executive Director
Barry Bourne is a geologist and the principal consultant at Terra Resources Pty Ltd which specializes in geophysical survey design, acquisition, processing, modeling, inversion, data integration, interpretation, and drill hole targeting. Bourne has significant exploration success and strong leadership qualities alongside his technical abilities. Bourne worked for over 12 years with Barrick Gold which included six years in-country experience in developing nations, including Papua New Guinea, East and West Africa and South America. He also spent three years working on the Carlin trend in the USA.
Prior to Barrick Gold, Bourne was the principal geophysicist of Homestake Gold. He was shortlisted for the Australian Innovation Awards in 2012 and was the Advance Global Australian of the Year for Mining and Resources in 2013. Bourne holds Bachelor of Science Honours degree, is a Fellow of the Australian Institute of Geoscientists, is on the technical advisory committee for UWA Centre for Exploration Targeting and is a member of the Australian Institute of Company Directors.
Zane Lewis - Company Secretary
Zane Lewis is a principal and joint founder of corporate advisory firm SmallCap Corporate which specializes in corporate advice and compliance administration to public companies. He is also a Fellow of Chartered Secretaries Australia. Lewis provides the board with a wealth of knowledge obtained from his diverse financial and corporate experience in previous appointments.
Michael Skead - Executive Vice-President of Exploration and COO
Michael Skead is a geologist with over 30 years of international experience in mining exploration and development. He holds a Bachelor of Science Honours degree in geology from the University of Cape Town, (RSA) and Master of Science degree in exploration geology, from Rhodes University, Grahamstown, (RSA). Skead most recently worked as the vice president of project development at GT Gold (TSXV:GTT) which was recently acquired by Newmont (NYSE:NEM) for C$393 million.
While at GT Gold Skead delivered the geological model and resource for the gold-rich copper porphyry Saddle North Project which comprised an indicated resource containing 1.81 Blb copper and 3.47 Moz gold and an Inferred resource containing 2.98 Blb copper and 5.46 Moz gold. Prior to his role at GT Gold, Skead was director of geoscience at Newmont and has previously held senior management positions in several internationally-recognized mining companies including Goldcorp, Randgold Resources (LSE:RRS) and Dundee Precious Metals (TSX:DPM).
Freddy Villao - Vice President Government Affairs, Ecuador
Freddy Villao is a lawyer with 15 years of experience across several public sector institutions in Ecuador. Villao's most recent position was as the under-secretary-general of strategic development and prior to that he was the under-secretary of administration for hydrocarbon contracts and assigned areas. He holds a master’s degree in Administrative Law from Austral University in Argentina, a Higher Diploma in Local Government Management in Ecuador, and a Diploma in Mining Management at the Catholic University of Chile.
Pablo Morelli - Exploration Manager, Ecuador
Pablo Morelli is a geologist with over 15 years of experience working across various epithermal systems as well as copper-molybdenum, copper-gold and gold-rich style porphyry systems. This experience was gained working with Barrick, Newmont, Kinross and Rio Tinto working in the Cretaceous, Palaeocene, Eocene-Oligocene and Miocene Belts of Northern and Central Chile and Mexico. Morelli recently worked as geology and exploration superintendent on the Norte Abierto Project, a joint venture between Newmont and Barrick Gold, evaluating the Cerro Casale and Caspiche copper-gold projects.