Titan Mining (TI.TO) was at last look up 4.7% in US premarket trade Thursday after it reported drill results confirming graphite mineralization up to 2,500 feet east of the current Kilbourne resource boundary, highlighting the "significant potential" to expand the deposit beyond the 2025 preliminary economic assessment mine plan.
It also provided an update on its germanium-related activities and detailed a 2026 exploration program across graphite and zinc.
Titan said Kilbourne East drilling confirms stratabound graphite continuity up to 2,500 ft east of the conceptual pit design, "supporting meaningful eastward potential mineral resource estimate expansion" and mine life extension beyond the 13-year base case established in the 2025 PEA.
Highlights of the results include 255.1 ft at 3.0% graphitic carbon from 57.9 ft to 313.0 ft, including 97.0 ft at 3.5% Cg from 200.0 ft to 297.0 ft. This is the widest intersection recorded in the eastern extension to date.
"These results reinforce our conviction that Kilbourne is a larger and more scalable graphite system than reflected in the current mineral resource estimate footprint," said Rita Adiani, president and chief executive officer of Titan. "We are seeing continuity of mineralization beyond the existing boundary, with grades consistent with the main deposit, which supports the potential for resource expansion, longer mine life and increased development flexibility. At the same time, our 2026 exploration strategy is designed to unlock additional value across graphite and zinc through a disciplined exploration approach."
Among highlights, Titan said germanium within existing process streams at Empire State Mines is found to be predominantly associated with mica and other gangue materials rather than sulphides.
"This is an important finding which defines the recovery approach and provides potential for additional cash flow opportunities incremental to the existing zinc operation," it added.
The company's 2026 exploration program advances graphite, zinc and critical mineral targets across its 120,000-acre land package. Regional zinc targets include Bend, Moss Ridge and Bostwick.
About 20,000 feet of drilling is planned across these targets. At Bend, work will focus on geochemical refinement and follow-up drilling. About 2,000 ft of drilling is planned for Moss Ridge, and about 1,500 ft of drilling for Bostwick.
Shares in Titan were down $0.14 or 3.5% at $3.92 in Canada, and down 4% in the US yesterday.