Vancouver, British Columbia, August 26th, 2022 – Titan Discovery Corp. (“TDC”, “Titan” or the “Company”) announced the acquisition of the Coconipi Property in Québec, Canada.
TDC has acquired three rare earth prospects located in the Province of Quebec, Canada within the 2022 calendar year:
- Advance Red Lake Property, Lac Des Deux-Montagnes Township, Central Quebec
- Lake Couillard Property, Lalande Township, Lower Northshore of Quebec
- Lake Coconipi Property, Lienard Township, Lower Northshore of St Lawrence , Quebec.
All three of these properties hold potential for large tonnages of rare earth-bearing lithologies. Particularly attractive is the large volume of prospective untested rock available for exploration to delineate a large tonnage of potential economic mineralization in each of the three areas.
Lake Coconipi Property
The Lake Coconipi Property is located in Lienard Township of the Lower Northshore of St. Lawrence, Quebec, Canada. The 25 square mile property lies 450 kilometers east of Sept-Isles, 120 km east of the town of Natashquan and 40 km east of La Romaine village. Access by Highway 138 ends at Auberge Brion approximately 80 km West of the property. Access from there can be accomplished by float plane or helicopter. The terrain is low relief and swampy, lying only 10-50 meters above sea level. Lakes are widespread on the property.
Geology and Mineralization of the Area
The property was located to cover an area containing lake sediments that are highly anomalous with Rare Earth Elements, Boron, Chrome, Vanadium, Scandium, Strontium, Arsenic, Cadmium, Cobalt and Phosphorus.
The region is underlain by a complex series of gneissic intrusive rocks that display possible hydrothermal vents. In the immediate area of the lakes containing the anomalous values of the elements detailed above is a zone 10 km x 2 km trending in a Northeast direction that is underlain largely by a unit classified as monzonite that displays a particular chocolate-brown weathering characteristic which is unexpected in a monzonitic terrane. This aspect is outstanding on aerial photos of the area, outlining a particular rock type outcropping over a large area adjacent the lake sediments of interest.
This particular rock type occurs all around the lakes that exhibit the anomalous geochemical samples. The very extensive outcropping of this brown weathering unit provides a large volume of potential source rock that may have weathered to create the high geochemical values.
In particular the high levels of boron and phosphorous may indicate a lithology that is prospective for rare earth elements as many rare earth compounds include phosphorus in their chemical structure.
Exploration Potential
The source of the anomalous elements discussed above provides encouragement to examine the rocks surrounding the lakes containing the strongly anomalous metal values.
Detailed mapping and sampling of surface materials can be accomplished with float plane access and foot traverses. Evaluation of the configuration to depth of the intrusive of interest can be accomplished with a magnetometer survey utilizing a drone to conduct the survey for a first pass analysis.
The large volume of prospective mineralized rock creates the potential for large tonnage processing of even low levels of rare earth minerals and boron and other minerals of economic interest.
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/