Vancouver, British Columbia, August 25th, 2023 – Titan Discovery Corp. (“TDC”, “Titan” or the “Company”) announces results from the summer 2023 exploration program at Uffen Zone, Peninsula Property.
TDC’s first season of exploration achieved three strategic objectives:
- Confirmed the best-in-class grades reported in historical exploration programs.
- Defined orebody of up to approximately 400 million tonnes with unique and potentially ground-breaking mineralization.
- Identified H1 2024 drill targets with the goal of defining an initial NI 43-101 resource of 100Mt.
Sampling of titanium-bearing rocks from the Peninsula Project have returned results as high as:
- 11% apatite, 13.45% ilmenite + significant scandium, vanadium, & REEs in the Recrystallized Zone resulting in world class concentrate grades of 48% TiO2 and 40% P2O5 plus specialty metals products.
- As high as 40% titanium oxide, 0.2% vanadium, and 61.5% iron oxide (common mineralization of over 90% combined hemo-ilmenite) in the Massive Ilmenite Zones.
Upcoming Generative Activities:
- Follow-on drilling programs at high-grade sampling areas.
- Go-public offering in Q1 2024.
- Continue to define up to a 400 Mt plus resource at Uffen Zone, within the Peninsula Property through geological and metallurgical analysis, as well as identify additional drilling targets.
- Preliminary Economic Assessment in H2 2024 followed by environmental permitting.
For more images from the 2023 exploration program, please visit our gallery page.
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
James Turner, 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.
*“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. Historical estimates should not be relied upon. These properties will require considerable further evaluation which TDC’s management and consultants intend to carry out.
The mineralized body referred to was derived by the previous operator by analyzing high resolution helicopter magnetic survey data. The data was conceptionally analyzed and modeled using Leapfrog and Inversion software. Remanent magnetism was also used to generate the model. Using this technique several models were produced. Titan Discovery Corp. verified that most of these models coincided with mineralization. The Mills (45 drill holes, 22 on Titan’s ground), a resource was calculated by Rio Tinto in 1975, Springer (1 drill hole) and Lake Puyjalon (3 drill holes). All drill holes showed Ilmenite mineralization.”
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/