11-11-17 extensive copper in historic channel … word - 11-11-17 extensive copper in historic...
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ASXANNOUNCEMENT
Suite6,295RokebyRd,SubiacoWA6008ACN:117790897
Ph:+61865552950Fax:+61861660261
www.titanminerals.com.au
14November2017
ExtensiveHighGradeCopper,Gold&SilverinHistoricChannel
Sampling&ReviewofExplorationDataUnderwayatSanSantiagoPeru
Highlights
• TitanimplementingstrategicreviewofSanSantiagohistoricalexplorationdata
• ExtensivemineralisationinhistoricchannelsamplingatSanSantiagoCopperprojectinPeru
• Highlightsofhistoricchannelsamplinginclude
1.08mgrading3.76%Cu,1.13g/tAuand4.9g/tAg
1.36mgrading3.53%Cu,0.215g/tAuand4.3g/tAg
1.21mgrading2.17%Cu,0.751g/tAuand3.9g/tAg
1.29mgrading1.81%Cu,0.302g/tAuand2.5g/tAg
1.70mgrading1.79%Cu,0.429g/tAuand3.4g/t
0.60mgrading9.10%Cu,4.53g/tAuand4.5g/tAg
0.85mgrading7.68%Cu,2.08g/tAuand5.6g/tAg
• Geophysics teamareestimated to finish geophysical surveyover the SanSantiagoproject in thenext4
weeks
• GeologistDrOwenMillerhasexplorationassessmentunderwaywithincountryteam
• DrillingcampaignnowexpectedtocommenceinQ12018
TitanMinerals Limited (ASX:TTM) (“Titan” or “The Company”) is pleased to advise its geological team is undertaking athoroughreviewofthehistoricalexplorationdataforthehigh-gradecoppermineralisationatits100%ownedSanSantiagoCopperProjectinPeru.Thecompany’sgeophysicalsurveyiscurrentlyunderwayandcoverstheSanSantiagoconcessions.Thiswillcoverareasofhistoricalminingactivitywhicharehighlyprospectiveforbaseandpreciousmetals.DrillingisexpectedtocommenceatSanSantiagoonceallsurveyingintheareaiscompleteandresultshavebeeninterpreted.Systematicmapping(1:500scale)andchannel-samplingofhistoricworkingsundertakenin2015revealedveinsofmassivechalcopyrite,pyriteandmagnetite,withminorborniteinlensesanddisseminatedinthewallrocks.Thealterationinthewallrocksismostlysecondarybiotiteandchlorite.Channelsampleresultsreportedincluded1.08mgrading3.76%Cu,1.13g/tAuand4.9g/tAg.Theoriginalsamplingworkwasfocussedontheoreshootknownas“BrasilVeinI”whichformspartofamuchlargerveinsysteminTitan’sBrasil/HuaratoconcessionlocatedwithintheAcari-Cobrepampacopper-gold-silverminingdistrict,which
ASXANNOUNCEMENT
Suite6,295RokebyRd,SubiacoWA6008ACN:117790897
Ph:+61865552950Fax:+61861660261
www.titanminerals.com.au
formspartof theMarcona IronOxide-Copper-Gold (IOCG)province in south-centralPeru, about550kmsouthof Lima(Error!Referencesourcenotfound.).Systematicdetailedmappingandchannel-samplingwasalsoundertakenoverasecondmineralisedveinsystemknownasthe“CallejonVeinSystem”,whichconfirmedstrongresultsincluding1.36mgrading3.53%Cu,0.215g/tAuand4.3g/tAg.RegionalSettingTheAcari-Cobrepampacopper-gold-silverminingdistrictislocatedinthemuchlargerMarconaIronOxide-Copper-Gold(IOCG)province,south-centralPeru,about550kmsouthofLima.Figure1showsthelocationoftheCobrepampaminingdistrictandtheapproximatelocationoftheBrasilconcession.TheHuarato,XV,CallejonandGenovaconcessionsareallincloseproximitytotheBrasilconcession(Figure4).
Figure1-LocationandtenureofTitanMineralsSanSantiagoandTorrecillasProjectsinPeru
TheMarconaICOGprovincehostsoneofthebiggestandlargestconcentrationsofironoxideinthecentralAndes.ShougangHierroPeru(aShougangGroupsubsidiary)[email protected]%Fe,whilsttheNanjingzhaoGroupownsthePampadePongomagnetiteproject,containingapproximately950Mt@44%Fe,which is locatedabout30kmtothesoutheastof theMarconamine.These iron-rich IOCGdepositsarethought tohaveformedintheMiddleJurassicinashallowmarineenvironmentalongnortheast-strikingfaultsystemsthatwereactiveasmajorandesitic-daciticvolcanicactivitytookplace.Inthesameprovince,thereisalsothemid-CretaceousIOCGcopper-richstylemineralisation.Thebest-knownprojectistheMinaJusta,locatedabout5kmnortheastoftheMarconamine,whichhasaJORC(2012)[email protected]%Cu,3.8g/tAgand0.03g/tAuatacut-offgradeof0.3%Cu.CoppermineralisationatMinaJustaoccursin hydrothermal breccia fillings and stockworks of copper sulphides that post-date the emplacement of themagnetite
ASXANNOUNCEMENT
Suite6,295RokebyRd,SubiacoWA6008ACN:117790897
Ph:+61865552950Fax:+61861660261
www.titanminerals.com.au
lenses,withinlow-anglefaultsthattransgressthehostvolcanoclasticstratigraphy.SimilarfeatureshavebeenobservedinsomeoftheveinsystemsattheCompany’sSanSantiagoProjectPeru.Inadditiontothe IOCGmineralisation,therearemorethantwohundredCu-Ag-AumineralisedveinsystemswithintheProvince, including theSanVicente-Trancas;Acari-Cobrepampa;LaLozaandMachaynioc.Themainveinsystems in theAcari-CobrepampadistrictareLaArgentina,Brasil,Purisma,SanJuan,LaVerde,SantaRosaandMariadelCarmen.The localgeology intheAcari-Cobrepamparegionconsistsofmonzonite,monzogranitesandgranodioritescutbyapliticdykes. Insomeareas,theserockshave intrudedJurassicandesiteanddacitevolcanicrocksorvolcanoclasticsediments.Theyareallmostlyoverlainbyrhyodaciticpyroclasticsediments,eluviumandalluvialsandandconglomeratedepositsforthemajorityoftheareaofinterest.
Figure2–Massivechalcopyrite±pyrite±quartzfromtheBrasilVeinIandCallejonVeinsystems,respectively
Figure3-CrosssectionoftheBrasilveinIshowingtheareasthathavebeensecuredandreopened.Itgivesallthesamplelocationandthemineralisationzoningobserved.
ASXANNOUNCEMENT
Suite6,295RokebyRd,SubiacoWA6008ACN:117790897
Ph:+61865552950Fax:+61861660261
www.titanminerals.com.au
Figure4-LocationofmainCu-AumineralisedsystemsinrelationtoTitanMineralsconcessions
ASXANNOUNCEMENT
Suite6,295RokebyRd,SubiacoWA6008ACN:117790897
Ph:+61865552950Fax:+61861660261
www.titanminerals.com.au
ENDSForfurtherinformationpleasecontact:MrMatthewCarrExecutiveChairmanTitanMineralsLimitedTel:+61408163950AboutTitanMineralsLtd
TitanMineralsistheownerandoperatorofacopperandgoldbusinessinawell-establishedminingregionofSouthernPeru.A centralisedprocessingplantwith three separate circuitsproduces copper concentrateandcopper cement inadditiontoloadedcarbonfromtheCIPgoldcircuit,withfeedsourcedfromthirdpartyoperatorsaswellasfromTitan’s100%ownedmines.
ThecopperassetsofTitanarecontainedwithin7,800HaofunderexploredconcessionsthatsurroundtheSanSantiagoprocessingplantandarecurrentlybeingminedforcopper,withanattractivegoldandsilvercredit.
Titan’sgoldassetsincludeitssmall-scaleminesattheTorrecillasproject.AtTorrecillas,anumberofhigh-gradenarrowgoldveinshavebeendevelopedandminedbyTitanMinerals.Thisgoldproject,locatedjust180kmsfromtheprocessingplant, arepartof16,000Haconcessionpackage that also contain two large tonnage, low-gradedisseminated targetscontainingknowngoldandcopperwithsilverandmolybdenummineralization.CompetentPerson’sStatement
TheinformationinthisdocumentthatrelatestotheTorrecillasgoldprojectandtheSanSantiagoconcessionsisbasedoninformationcompiledandconclusionsderivedbyMrAidanPlatel.MrPlatelhasover17years’experienceinthemineralsindustry,inbothminingandexplorationrolesacrossawiderangeofcommodities.MrPlatelhastherelevantqualifications,experience and independence tobe considered a “Competent Person” as definedby the JORCCode (2012).MrPlatelconsentstothe inclusion inthispresentationofthemattersbasedonhis informationandhasreviewedallstatementspertainingtothisinformationintheformandcontextinwhichitappears.InformationinthisannouncementrelatestothefollowingpreviousASXannouncements:
• Explorationresultsconfirmexcitinghigh-gradeprospectsforthehistoricalBrasilCoppermine,SouthernPeru,18March2015.
• 23January2012,MaidenJORCResourceof102,[email protected],Peru.• 22ndofApril2013ExplorationandtrialminingupdatefromTessieproject–TorrecillasProject.• BrasilCopperMineExplorationupdate29May2015.
ExplorationresultswerepreparedandfirstdisclosedundertheJORCcode2004.IthasnotbeenupdatedsincetocomplywiththeJORCcode2012onthebasisthattheinformationhasnotmateriallychangedsinceitwaslastreported(seeMineraAnnualreports2012-2014andvariouscorrespondingASXreleases.)Thecompanyconfirmsthatitisnotawareofanynewinformationordatathatmateriallyaffectstheinformationincludedintheoriginalmarketannouncementsand,inthecaseofestimatesofMineralResources,thatallmaterialassumptionsandtechnicalparametersunderpinningtheestimatesintheoriginalmarketannouncementscontinuetoapplyandhavenotmateriallychanged.Thecompanyconfirmsthattheformandcontextinwhichthecompetentpersonsfindingshavenotbeenmateriallymodifiedfromtheoriginalannouncement.