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Titan Minerals Continuing to Grow, De-Risk Ecuador Project through Drilling, Euroz Hartleys Says

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Titan Minerals (ASX:TTM) is growing and de-risking the Dynasty project in Ecuador through drilling, supporting a larger and higher-confidence resource, Euroz Hartleys said in a note on Tuesday.

Titan identified gold and silver mineralization at the Cerro Verde prospect of the project, with results of up to 16 meters at 2.8 grams per tonne gold and 9.1 g/t silver from 433.9 meters and 19.7 meters at 2.6 g/t gold and 14 g/t silver from 253.3 meters.

These results are expected to assist in upgrading portions of the resource into higher-confidence categories. Titan remains optimistic that the ongoing drilling program will deliver a material increase in the size and confidence of the mineral resource. It has added a fourth diamond drill rig, while a reverse circulation drill rig is expected to start operations in October.

The investment firm retained its speculative buy rating on Titan and raised the price target to AU$2.05 per share from AU$2.02 per share.

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