Titan Minerals unveils a JORC Resource of 3.1Moz gold and 22Moz silver
Nick Sundich, July 6, 2023
A Maiden JORC Resource is always a major milestone any company and it is one that Titan Minerals (ASX:TTM) has achieved at its Dynasty project in Ecuador.
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Titan Minerals’ JORC Resource
Titan reported 43.54Mt at 2.23g/t and 15.7g/t which equates to 3.1Moz gold and 22Moz silver. Over half of this was within 100m of surface and there was one specific high grade component of 17.3Mt @ 3.77g/t gold and 24g/t silver.
The company told shareholders this provided a robust 3D model for targeting resource growth and future mine development studies (Hint: Feasibility studies and Resource updates).
It also said that there were several high conviction areas for resource additions.
Titan Minerals shareholders sent the share price up over 30% in the first half hour of trading.
Titan Minerals (ASX:TTM) share price chart, log scale (Source: TradingView)
But…
…it will be some time yet before we see Dynasty as a fully operating mine. 61% of the resource is Inferred with the balance being indicated. Furthermore, the majority of those indicated resource were at just one individual prospect.
We’re not suggesting the company has gotten ahead of itself, but there may well be some individual investors who are.
Nonetheless, this is something for the company to build on and it does mean it deserved this morning’s re-rate.
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