Companies:

 

Articles:

 
Mining

Titan Minerals Receives US$10 Million Investment from Lingbao to Boost Dynasty Gold Project

Go to Colin Hay author's page
By Colin Hay - 
Titan Minerals ASX TTM Investment Lingbao Dynasty Gold Project
Copied

Titan Minerals (ASX: TTM) has received US$10 million in funding from Chinese mining firm Lingbao Gold International to accelerate development of its Dynasty gold project in Ecuador.

Lingbao has agreed to provide Titan with the strategic investment to fast-track resource drilling and de-risking studies at the growing Dynasty asset.

With a market capitalisation of $5.3 billion, Lingbao is a specialist in mining, processing, smelting, and refining of gold, silver, copper, and sulphuric acid across five major mines and a smelting and processing enterprise.

Extensive Gold Mineralisation

The Dynasty project has a current indicated and inferred mineral resource estimate of 43.5 million tonnes at 2.23 grams per tonne gold and 15.7g/t silver, for a contained 3.12 million ounces of gold and 21.98Moz silver.

The advanced exploration project features five contiguous concessions across an area of 139 square kilometres, with work to date outlining an extensive zone of epithermal gold mineralisation over a 9km strike.

Surface mapping, trenching, and drilling at the Kaliman prospect, and surface geochemistry and mapping at the Cola and Gisell prospects have indicated to Titan that there is considerable potential for porphyry-copper mineralisation at the project.

Synergies to be Unlocked

Titan chief executive officer Melanie Leighton said the the partnership will unlock significant synergies between Lingbao and the Dynasty project.

“Through their Hong Kong listing and mining operations, Lingbao has access to substantial capital along with a proven track record of developing and mining high-grade gold deposits,” she said.

“These key attributes align with our aim to fast-track the development and mining of the Dynasty gold project in southern Ecuador.”

Lingbao executive committee chair Pinran Wang said the quality of Titan’s gold and copper assets in Ecuador was the main attraction for his company.

“The partnership between Lingbao and Titan will not only aim to unlock the value of Dynasty gold project, but also, [that] of other assets Titan holds.”