VANCOUVER, British Columbia, Oct. 06, 2020 (GLOBE NEWSWIRE) — Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) today provided an update on its drilling programs at its 100% owned Empire State Mine (“ESM”) located in upstate New York. Underground drilling has intersected high-grade zinc mineralization in the Mahler zone that will add to the resource and ultimately enhance ESM’s production profile. Additionally, exploration drilling has commenced targeting a high priority target in the district.
Highlights from the underground drilling include:10.1 feet assaying 20.9% zinc within a larger zone of 21.4 feet assaying 13.0% zinc37.0 feet assaying 20.2% zinc within a larger zone of 80.2 feet assaying 15.6% zinc17.6 feet assaying 45.4% zinc within a larger zone of 24.1 feet assaying 36.5% zinc9.8 feet assaying 41.1% zinc within a larger zone of 20.8 feet assaying 25.5% zinc1.1 feet assaying 19.2% zinc within a larger zone of 11.9 feet assaying 13.8% zinc
CEO, Don Taylor, stated “Our drilling continues to deliver positive results that will ultimately extend mine life and enhance our production profile. In the case of Mahler, we are seeing some very substantial zinc grades over mineable widths. As we progress with the exploration moving farther away from the mine workings, we have high expectations of success.”Mahler ZoneUnderground drilling continues to delineate high-grade zinc mineralization on the down-plunge portion of the Mahler mineralized zone. The Mahler zone consists of two mineralized horizons: Mahler Main and Mahler White Dolomite.The current ESM drilling in two drill fans consisting of 13 drill holes have extended the Mahler mineralization over a down-plunge strike length of 350 feet. An additional 40 holes are planned to further test an additional 500 feet of potential strike length by the end of Q4 2020. The results from the current and pending drill programs will be utilized to refine the current mine plan, in preparation for development in Q4 2020.2020 Exploration Program UpdateIn Q1 2020, the ESM exploration program was focused on delineating three significant zones of near surface mineralization. The exploration was successful and three defined zones are able to be mined by lower cost open-pit mining methods and milled at ESM’s milling complex (located one mile to the north) under ESM’s current mining permit, subject to an update of the Mined Land Use Plan. During Q2 2020, exploration drilling was paused due to COVID-19 pandemic and a shortage of resources. In Q3 2020, ESM re-started its surface exploration drilling program with a focus to discover a new mineralized trend north-west of the Mud Pond mineralized zone located at ESM’s #4 Mine. The high priority Farm to Market target has the potential to host a high-grade, large tonnage deposit and has not been drill tested. Drilling is well underway and is expected to continue through Q4 2020 into 2021.Scott Burkett, Vice President, Exploration, commented, “The recent financing and revised Covid-19 protocols have allowed ESM to recommence exploration drilling on the Farm to Market target, which we believe has the potential to yield a large tonnage high-grade deposit in close proximity to existing infrastructure.”The current underground drilling program included drill holes MA20-001 – MA20-013, drilled from two underground sites. Seven holes were drilled from Site A and six holes were drilled from Site B. The 13 holes successfully extended the Mahler zone 350 feet along strike. The holes confirm the presence of high-grade mineralization and define the extents of mineralization laterally and along strike. Table 1 is a summary of the mineralized intervals from the current drilling.Table 1 – Recent Exploration Drill Results from Mahler at ESMNote: 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 ESM Mineralized Zones is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/08b4ba1a-3916-494e-bb3d-444d19732673Figure 2 – Plan View of Mahler Definition Drill Sites A and B is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b72ec42a-fc97-46e8-842c-d3b949107354Figure 3 – Site A Cross-section of Mahler Definition Drilling (Looking NE) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/842aa88c-4d1c-495c-8bde-516c4ee0a9c7Figure 4 – Site B Cross-section of Mahler Definition Drilling (Looking NE) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3ac5711-0786-4d99-ab1f-ba604df599b8Qualified PersonThe results of the Titan drilling have been reviewed, verified and compiled by Scott Burkett, Vice President of Exploration for Titan, a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Burkett has over 12 years of mineral exploration experience and is a Registered Member through the SME (registered member # 4229765).Assays and Quality Assurance/Quality ControlTo 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 CorporationTitan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine (“ESM”) located in New York state. In addition, Titan has an option to earn a 100% interest in the Mineral Ridge gold property in Esmeralda County, Nevada that is drill-ready, fully permitted and hosts a current known gold resource of 350koz with tremendous exploration potential. 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.ContactFor further information, please contact:Investor Relations:
Jacqueline Wagenaar, VP Investor Relations
Telephone: 416-366-5678 Ext. 203 | Email: [email protected] Cautionary Note Regarding Forward-Looking InformationThis 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, performance of current and additional drilling, 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, 2019, 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.
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