Titan Mining Corporation (TSX:TI) (“
Titan” or the
“
Company”) today provided an update on its
exploration program at the Empire State Mine (“ESM”). The update
includes drilling results from four near-mine mineralized zones:
New Fold and NE Fowler at ESM #4 mine, #2D which is an extension of
the large #2 mine, and #1D, which lies stratigraphically below.
Significant mineralized intercepts(1)
include:
- New Fold:
- 38.0 feet assaying 16.0% zinc
- Including 9.9 feet assaying 33.4% zinc
- 24.8 feet assaying 11.8% zinc
- Including 4.9 feet assaying 39.0% zinc
- 32.8 feet assaying 9.5% zinc
- Including 10.7 feet assaying 21.0% zinc
- 13.4 feet assaying 21.5% zinc
- 28.5 feet assaying 17.2% zinc
- Including 9.1 feet assaying 28.3% zinc
- #2D and #1D:
- 84.5 feet assaying 7.5% zinc (#2D)
- Including 35.0 feet assaying 10.3% zinc
- 8.2 feet assaying 9.9% zinc (#1D)
- NE Fowler:
- 27.3 feet assaying 5.7% zinc
- Including 4.7 feet assaying 13.8% zinc
- 12.7 feet assaying 6.4% zinc
New Fold Zone
An 18-hole underground exploration program was
carried out in early 2019. The program was designed to test the
southern extension of the mineralization in the New Fold zone. The
drilling confirms that high-grade zinc mineralization extends at
least 300 feet up-plunge from the mineral resource included in the
2018 PEA(2). The mineralization in the New Fold zone now extends
over 1,800 feet from southwest to northeast, and remains open to
the northeast.
(1) Widths provided are drill intercepts and not
true widths for the zones.(2) Refer to the technical report
entitled “NI 43-101 Preliminary Economic Assessment Updated
Technical Report, Empire State Mines, Gouverneur, New York, USA”,
dated May 24, 2018 (“2018 PEA”); the mineral resource estimate in
the 2018 PEA is dated January 31, 2018.
#2D and #1D Zones
Underground infill drilling continues to define
the continuity of high-grade mineralization in the central portion
of the #2D mineralized zone. In this area, the zone is 50 feet to
100 feet thick along a defined fold hinge which extends
approximately 1,500 feet northeast from the historic
mineralization. The recent drill holes also intercepted high-grade
mineralization in the #1D zone, located approximately 275 feet
below the #2D zone. Drilling results indicate that the grade of the
mineralization in the #1D zone increases to the northeast and the
zone remains open in that direction.
NE Fowler Zone
In 2018, 14 holes totaling approximately 16,200
feet were drilled to test the up-plunge extension of the
mineralization at the NE Fowler zone, and to upgrade the 2018 PEA
resource classification from the inferred category to the indicated
category. The drill program demonstrated the up-plunge continuity
of mineralization. Drilling also indicated that the mineralization
thickens to the west and north, and remains open in both
directions. Based on the current drill results, it appears that the
thicker and higher-grade portion of the NE Fowler mineralized zone
is situated further to the north/northwest and will be the target
of future drilling.
2019 Exploration Program
The exploration program at ESM remains focused
on testing targets that have the potential to host high-grade,
large-tonnage deposits. These targets include historic mined areas
such as the Edwards mine, and several prospects with coincident
soil and geophysical anomalies.
“The surface and underground exploration
drilling programs continue to expand the mineralized zones at ESM,”
said Scott Burkett, Vice President, Exploration. “The drilling
results indicate that the mineralized zones being targeted have
grown in size and remain open along strike. Continued drilling is
expected to increase the mineral resources and add to the mine life
at ESM.”
Donald Taylor, Chief Executive Officer of Titan,
commented, “We are encouraged by the results of our step-out
drilling at New Fold. This is a higher-grade zone which could
contribute to near-term production. Both New Fold and the #2D zone
are being incorporated in our revised mine plan which is expected
to be completed mid-year. Our team remains focused on underground
development at ESM in addition to exploring this highly-prospective
district.”
Drill holes 2237-F, 2238-F and 2239-F were part
of a six-hole underground fan targeting the New Fold zone. The
holes extend high-grade mineralization approximately 150 feet
up-plunge from the 2018 PEA mineral resource. Intercepts from the
three holes are vertically spaced approximately 70 feet apart.
Notable mineralized intervals from 2237-F
were:
- 13.4 feet assaying 21.5% zinc
- 13.5 feet assaying 8.8% zinc
A noteworthy mineralized interval from 2238-F
was:
- 28.5 feet assaying 17.2% zinc
- Including 9.1 feet assaying 28.3% zinc
Notable mineralized intervals from 2239-F
were:
- 15.4 feet assaying 8.5% zinc
- 9.0 feet assaying 16.4% zinc
Drill holes 2243-F, 2244-F, 2245-F and 2246-F
were drilled from underground and are part of a seven-hole fan
targeting the New Fold zone. The holes demonstrate the continuity
of high-grade mineralization and extend the zone 300 feet up-plunge
from the 2018 PEA resource. Intercepts from the four holes are
vertically spaced approximately 70 feet apart.
A noteworthy mineralized interval from 2243-F
was:
- 32.8 feet assaying 9.5% zinc
- Including 10.7 feet assaying 21.0% zinc
A notable mineralized interval from 2244-F
was:
- 24.8 feet assaying 11.8% zinc
- Including 4.9 feet assaying 39.0% zinc
A noteworthy mineralized interval from 2245-F
was:
- 38.0 feet assaying 16.0% zinc
- Including 9.9 feet assaying 33.4% zinc
A notable mineralized interval from 2246-F
was:
- 33.8 feet assaying 7.4% zinc
- Including 14.0 feet assaying 13.8% zinc
UX18-010 is a horizontal infill hole drilled
underground from the 2500 level. The drill hole targeted the
central portion of the mineralization at the #2D zone where the
greatest thicknesses and highest grades have been observed. The
drill hole confirms the grade and thickness of mineralization in
both the upper and lower #2D horizons. Notable mineralized
intervals were:
- 84.5 feet assaying 7.5% zinc (#2D)
- Including 35.0 feet assaying 10.3% zinc
- 22.2 feet assaying 7.2% zinc (#2D)
SX19-2466 is a vertical hole drilled from
surface. The drill hole had a significant intercept in the #1D
zone. The hole indicates that the grade of the mineralization
increases to the northeast and remains open in that direction. A
noteworthy mineralized interval was:
- 8.2 feet assaying 9.9% zinc
2227-F is an inclined underground drill hole
targeting NE Fowler mineralization. The drill hole intercepted two
mineralized horizons which remain open to the west. The results
suggest that the main part of the NE Fowler mineralization may not
yet have been identified. Notable mineralized intervals were:
- 5.6 feet assaying 6.3% zinc
- 27.3 feet assaying 5.7% zinc
- Including 4.7 feet assaying 13.8% zinc
2231-F is an inclined underground hole, drilled
570 feet north of 2227-F, targeting NE Fowler mineralization. The
drill hole intercepted one significant mineralized interval and
remains open to the north. A noteworthy mineralized interval
was:
- 12.7 feet assaying 6.4% zinc
For a full list of the New Fold, #2D, #1D and NE
Fowler mineralized intervals from these holes, refer to Tables 1
and 2.
Table 1 – Recent Exploration Drill Results from New Fold
Zone at ESM
|
|
|
|
|
|
|
|
|
Drill hole |
From (feet) |
To (feet) |
Interval (feet) |
From (meters) |
To (meters) |
Interval (meters) |
Zn% |
Zone |
|
2235-F |
356.7 |
362.9 |
6.3 |
108.7 |
110.7 |
1.9 |
2.1 |
New Fold |
|
2235-F |
595.3 |
602.0 |
6.7 |
181.5 |
183.5 |
2.0 |
5.2 |
New Fold |
|
2235-F |
644.0 |
651.4 |
7.5 |
196.3 |
198.6 |
2.3 |
14.8 |
New Fold |
|
|
|
2236-F |
583.1 |
597.3 |
14.2 |
177.8 |
182.1 |
4.3 |
7.1 |
New Fold |
|
|
|
2237-F |
302.9 |
304.3 |
1.4 |
92.4 |
92.8 |
0.4 |
15.6 |
New Fold |
|
2237-F |
432.0 |
434.2 |
2.2 |
131.7 |
132.4 |
0.7 |
15.0 |
New Fold |
|
2237-F |
447.7 |
449.1 |
1.4 |
136.5 |
136.9 |
0.4 |
3.0 |
New Fold |
|
2237-F |
453.7 |
467.1 |
13.4 |
138.3 |
142.4 |
4.1 |
21.5 |
New Fold |
|
2237-F |
487.6 |
501.1 |
13.5 |
148.7 |
152.8 |
4.1 |
8.8 |
New Fold |
|
|
|
|
|
|
|
|
|
|
|
2238-F |
396.9 |
425.4 |
28.5 |
121.0 |
129.7 |
8.7 |
17.2 |
New Fold |
|
Including |
416.3 |
425.4 |
9.1 |
126.9 |
129.7 |
2.8 |
28.3 |
New Fold |
|
2238-F |
431.6 |
433.7 |
2.1 |
131.6 |
132.2 |
0.6 |
37.8 |
New Fold |
|
|
|
|
|
|
|
|
|
|
|
2239-F |
351.4 |
366.7 |
15.4 |
107.1 |
111.8 |
4.7 |
8.5 |
New Fold |
|
2239-F |
372.5 |
381.5 |
9.0 |
113.6 |
116.3 |
2.7 |
16.4 |
New Fold |
|
2239-F |
387.0 |
388.7 |
1.7 |
118.0 |
118.5 |
0.5 |
10.6 |
New Fold |
|
2239-F |
394.5 |
395.9 |
1.4 |
120.3 |
120.7 |
0.4 |
10.1 |
New Fold |
|
|
|
|
|
|
|
|
|
|
|
2243-F |
493.2 |
499.8 |
6.6 |
150.4 |
152.4 |
2.0 |
8.1 |
New Fold |
|
2243-F |
508.7 |
514.7 |
6.0 |
155.1 |
156.9 |
1.8 |
6.7 |
New Fold |
|
2243-F |
534.7 |
567.5 |
32.8 |
163.0 |
173.0 |
10.0 |
9.5 |
New Fold |
|
Including |
551.9 |
562.6 |
10.7 |
168.3 |
171.5 |
3.3 |
21.0 |
New Fold |
|
2243-F |
572.6 |
578.1 |
5.5 |
174.6 |
176.3 |
1.7 |
4.9 |
New Fold |
|
|
|
|
|
|
|
|
|
|
|
2244-F |
410.7 |
435.5 |
24.8 |
125.2 |
132.8 |
7.6 |
11.8 |
New Fold |
|
Including |
410.7 |
415.6 |
4.9 |
125.2 |
126.7 |
1.5 |
39.0 |
New Fold |
|
2244-F |
450.0 |
461.8 |
11.8 |
137.2 |
140.8 |
3.6 |
8.5 |
New Fold |
|
|
|
|
|
|
|
|
|
|
|
2245-F |
369.0 |
407.0 |
38.0 |
112.5 |
124.1 |
11.6 |
16.0 |
New Fold |
|
Including |
373.8 |
383.7 |
9.9 |
114.0 |
117.0 |
3.0 |
33.4 |
New Fold |
|
|
|
|
|
|
|
|
|
|
|
2246-F |
307.2 |
341.0 |
33.8 |
93.7 |
104.0 |
10.3 |
7.4 |
New Fold |
|
Including |
319.6 |
333.6 |
14.0 |
97.4 |
101.7 |
4.3 |
13.8 |
New Fold |
Note: It is not possible to determine the true width of the
zone(s) based on the drill density and no representation is made
here regarding true width of the zone(s).
Table 2 – Recent Exploration Drill Results from NE
Fowler, #2D and #1D Zones at ESM
|
|
|
|
|
|
|
|
|
|
|
Drill hole |
From (feet) |
To (feet) |
Interval (feet) |
From (meters) |
To (meters) |
Interval (meters) |
Zn% |
Zone |
|
2227-F |
865.8 |
871.4 |
5.6 |
264.0 |
265.7 |
1.7 |
6.3 |
NE Fowler |
|
2227-F |
896.0 |
923.3 |
27.3 |
273.2 |
281.5 |
8.3 |
5.7 |
NE Fowler |
|
Including |
914.9 |
919.6 |
4.7 |
278.9 |
280.4 |
1.4 |
13.8 |
NE Fowler |
|
|
|
|
|
|
|
|
|
|
|
2228-F |
887.3 |
912.6 |
25.3 |
270.5 |
278.2 |
7.7 |
3.7 |
NE Fowler |
|
|
|
|
|
|
|
|
|
|
|
2231-F |
1136.1 |
1137.6 |
1.5 |
346.4 |
346.8 |
0.5 |
9.4 |
NE Fowler |
|
2231-F |
1146.2 |
1158.9 |
12.7 |
349.5 |
353.3 |
3.9 |
6.4 |
NE Fowler |
|
2231-F |
1168.8 |
1169.9 |
1.1 |
356.3 |
356.7 |
0.3 |
2.5 |
NE Fowler |
|
|
|
|
|
|
|
|
|
|
|
2232-F |
1107.2 |
1117.4 |
10.2 |
337.6 |
340.7 |
3.1 |
4.1 |
NE Fowler |
|
2232-F |
1203.6 |
1204.9 |
1.3 |
367.0 |
367.3 |
0.4 |
5.2 |
NE Fowler |
|
2232-F |
1209.7 |
1228.2 |
18.5 |
368.8 |
374.5 |
5.6 |
4.4 |
NE Fowler |
|
|
|
|
|
|
|
|
|
|
|
UX18-010 |
989.5 |
1074.0 |
84.5 |
301.6 |
327.3 |
25.8 |
7.5 |
#2D Upper |
|
Including |
1024.0 |
1059.0 |
35.0 |
312.1 |
322.8 |
10.7 |
10.3 |
#2D Upper |
|
UX18-010 |
1139.3 |
1161.5 |
22.2 |
347.2 |
354.0 |
6.8 |
7.2 |
#2D Lower |
|
UX18-010 |
1189.0 |
1200.2 |
11.2 |
362.4 |
365.8 |
3.4 |
3.8 |
#2D Lower |
|
|
|
SX19-2466 |
2781.7 |
2783.7 |
2.0 |
847.8 |
848.4 |
0.6 |
11.0 |
#2D Lower |
|
SX19-2466 |
3151.4 |
3153.0 |
1.6 |
960.5 |
961.0 |
0.5 |
14.0 |
#1D |
|
SX19-2466 |
3214.8 |
3223.0 |
8.2 |
979.8 |
982.3 |
2.5 |
9.9 |
#1D |
Note: It is not possible to determine the true width of the
zone(s) based on the drill density and no representation is made
here regarding true width of the zone(s).
Figure 1 – Plan View of Select Near-Mine Mineralized
Zones
http://www.globenewswire.com/NewsRoom/AttachmentNg/613f13f3-d7e5-4b8e-b9cb-794e694d6ef1
Figure 2 – Isometric View (Looking
Southwest) of New Fold Step-Out Drilling and Selected Significant
Mineralized Intervals
http://www.globenewswire.com/NewsRoom/AttachmentNg/6b2276ba-3eaa-4f8f-a49c-fc202f05c7b9
Figure 3 – Plan View of #2D Zone Showing Drill Hole
Locations
http://www.globenewswire.com/NewsRoom/AttachmentNg/d7eed97d-1d58-47b0-b2a4-5ea2b911af14
Qualified Person
The results of the Titan drilling have been
reviewed, verified and compiled by Donald R. Taylor, MSc., PG,
Chief Executive Officer of Titan, a qualified person as defined by
National Instrument 43-101 (NI 43-101). Mr. Taylor has 30 years of
mineral exploration and mining experience, and is a Registered
Professional Geologist through the SME (registered member
#4029597).
Assays and Quality Assurance/Quality
Control
To ensure reliable sample results, the Company
has a rigorous QA/QC program in place that monitors the
chain-of-custody of samples and includes the insertion of blanks
and certified reference standards at statistically derived
intervals within each batch of samples. Core is photographed and
split in half with one-half retained in a secured facility for
verification purposes.
Sample preparation (crushing and pulverizing)
has been performed at ALS Geochemistry, an ISO/IEC accredited lab
located in Sudbury, Ontario, Canada. ALS Minerals Laboratories
prepares a pulp of all samples and sends the pulps to their
analytical laboratory in Vancouver, B.C., Canada, for analysis. ALS
analyzes the pulp sample by an aqua regia digestion (ME-ICP41 for
35 elements) with an ICP – AES finish including Cu (copper), Pb
(lead), and Zn (zinc). All samples in which Cu (copper), Pb (lead),
or Zn (zinc) are greater than 10,000 ppm are re-run using aqua
regia digestion (Cu-OG46; Pb-OG46; and Zn-OG46) with the elements
reported in percentage (%). Silver values are determined by an aqua
regia digestion with an ICP-AES finish (ME-ICP41) with all samples
with silver values greater than 100 ppm repeated using an aqua
regia digestion overlimit method (Ag-OG46) calibrated for higher
levels of silver contained. Gold values are determined by a 30 g
fire assay with an ICP-AES finish (Au-ICP21).
About Titan Mining
Corporation
Titan is an Augusta Group company which produces
zinc concentrate at its 100%-owned Empire State Mine (“ESM”)
located in New York State. ESM is a group of zinc mines which
started production in the early 1900s. Titan is built for growth,
focused on value and committed to excellence. The company’s shares
are listed under the symbol "TI" on the Toronto Stock Exchange. For
more information on the Company, please visit our website at
www.titanminingcorp.com.
Contact
For further information, please contact:
Jacqueline Allison – Vice President, Investor Relations
and Strategic Analysis Telephone: 416-366-5678 Ext. 205 |
Email: jallison@titanminingcorp.com
Cautionary Note Regarding
Forward-Looking Information
This press release contains certain
forward-looking statements. Words such as “expects”, “anticipates”
and “intends” or similar expressions are intended to identify
forward-looking statements. Forward-looking information is
necessarily based on a number of opinions, assumptions and
estimates that, while considered reasonable by the Company as of
the date of this press release, are subject to known and unknown
risks, uncertainties, assumptions and other factors that may cause
the actual results, use of proceeds or timing of events to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to the
factors described in greater detail in the Company’s Management’s
Discussion and Analysis and Annual Information Form for the year
ended December 31, 2018, available at www.sedar.com. No securities
regulatory authority has expressed an opinion about the securities
described herein and it is an offence to claim otherwise. Titan
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by law.
Source: Titan Mining Corporation
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