Vancouver, British Columbia, August 15th, 2022 – Titan Discovery Corp. (“TDC”, “Titan” or the “Company”) announced the acquisition of the Advanced Red Lake Property, Les Des Deux-Montagnes Township, Central Québec, Canada.
Advanced Red Lake Property
The Advance Red Lake Property is located within the Oka regional carbonatite area 4 km Northwest of Lac St. Joseph. The property, comprising 9 CDC claims is accessible by good roads and can be accessed year around. The property lies within the Oka carbonatite complex intrusive into Grenville-aged gabbro and gneisses. The complex extends 7.2 km by 2.4 km in extent with the claims lying within the Northwest corner of the complex, within the outer rings of the complex intrusive. The Southwest corner of the property contains okalite, iolite, and carbonatite materials within a highly magnetic area.
Mineralization of the Area
The minerals of interest are pyrochlore and perovskite disseminated within the contact zone between alkaline intrusive rocks and the adjacent crystalline limestone. Mineralization potential for niobium, tantalum, scandium, titanium, and rare earths is present in any carbonatite complex.
Historical drilling of nine holes in 1956 by Oka Rare Metals Mining Co. Lt. demonstrated a zone of 3.5 Mt (million tonnes) of 0.31% Nb2O5, 0.22% Nb2O5, 0.22%Nb , 0.39% rare earth oxides. Possible extensions to the Northeast of this zone may occur as the zone was not fully defined.
Exploration Potential
The Advance Red Lake Property is located within a large field of deposits, 4 km West of the Manoka deposit (200,000 tonnes @ 0.6% Nb2O5 or 0.42%Nb), and 4.5 km North of the Niocan Bond zones (14.37 Mt @ 0.66% Nb2O5 in the S-60 zone and 5.95 Mt @ 0.56 % Nb2O5 for HWM2 zone).
The property has had testing on only a regional basis, and no ground geophysics or geology was apparently undertaken on the property.
Good potential exists to expand the current 3.5 Mt based on only nine drill holes when the property contains geological and geophysical similarities to the nearby rare earth deposits.
In general carbonatites have the ability to yield significant values of niobium, tantalum, scandium, titanium, and rare earths in concentrated fairly small high value zones distributed within the carbonatite complex. Detailed work is needed to refine controls and define additional targets within a large prospective area of the Advance Red Lake Property.
Advanced Red Lake – Oka Carbonatite Complex Summary
Bond Zone: The first REE discovery in the regional area was done by Quebec Columbium during a diamond drilling program conducted between 1955 and 1961. A resource estimate of 14.37 Mt at 0.66% Nb2O5 for the S-60 zone and 5.95 Mt at 0.56% Nb2O5 for the HWM2. The zone is located approximately 4.5 kilometers southeast of the subject property sharing almost the same geological and geophysical characteristics of the Oka carbonatite complex.
St-Lawrence Columbium Mine (Main Oka): St-Lawrence Columbium mine is a closed mine located 4 kilometers Southwest of St-joseph. The mineralized zone is located in the Northern ring structure of Oka alkaline complex. The host rock is a sovite pyroxene, biotite and magnetite. Mineralization consists of disseminated pyrochlore, magnetite, apatite, perovskite, and betafite niocaite. Between 1961-1976 a 6.2 Mt @ 0.306 % Nb2O5 were milled from the mine and in 1974.
The Manoka: The Manoka property is located 2.5 kilometers Northwest of Lac St. Joseph, approximately 3 kilometers East of Advance deposit and 6 kilometers Northwest of the Bond zone of Niocan Inc. In 1955, the diamond drilling indicates reserves of about 200,000 tons at an average grade of 0.6% Nb2O5 (0.42%Nb).
Yours sincerely,
Titan Discovery Corp.
Cautionary Statement Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. All resource estimates quoted herein are based on prior data and reports obtained and prepared by previous operators and information provided by the State. Titan Discovery has not completed the work necessary to verify the classification of the mineral resource estimates. Titan Discovery is not treating the mineral resource estimates as NI 43-101 defined resources verified by a qualified person. The historical estimates should not be relied upon. These properties will require considerable further evaluation which TDC’s management and consultants intend to carryout.
Qualified Person
Stewart Jackson, B.Sc., P.Geo. (BC) a “Qualified Person” under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
About Titan Discovery Corporation
Titan Discovery Corp. (“TDC”) is a privately held mineral resource company that has secured a high-value resource project (The Peninsula Project) in Quebec, Canada, which comprises of a series of very large titanium, scandium, vanadium, and phosphate deposits. The Project contains both a substantial historical resource and an exploration potential that can create one of the largest hard rock titanium-phosphate resources in the world. The Company looks to quickly increase project value; through metallurgical testing of samples to be obtained, initially from three outcropping priority targets. In addition, TDC will undertake already targeted geological work programs comprising geophysical trenching and drilling programs, which upon conclusion, is expected to provide valuable guidance and justification for further capital deployment and strategic application of value enhancing geological work.
Strategic. Sustainable. Growth.
Further information can be found on the Company’s website https://titandiscoverycorp.com/