Titan Minerals (ASX:TTM) said drilling at its Dynasty gold project in Ecuador intercepted high-grade mineralization, according to a Friday Australian bourse filing.
It drilled 11 holes for a total depth of 3,723 meters at the Brecha-Comanche target, and drilling was designed to test lateral and at-depth resource extensions.
Significant intercepts from the drilling included 17.5 meters at a grade of 2.5 grams per tonne of gold and 8.6 g/t of silver from 374 meters downhole as well as 2.8 meters at 3.6 g/t grade of gold and 28.6 g/t grade of silver from 236.2 meters downhole.
An updated mineral resource estimate is expected in the middle of the year once the resource drilling program is completed and its geological model is updated.
It also said that due to unusually high rainfall at the project, it decided to suspend drilling activities for the coming one to two weeks.
Its shares fell 6% in recent trading on Friday.
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