VANCOUVER, British Columbia, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) is pleased to announce that it is advancing surface exploration activities at the Company’s Kilbourne graphite target. Field crews have begun mapping and sampling with equipment being mobilized to begin trenching and channel sampling. The surface work will aim to identify areas of higher grade graphite amenable to bulk sampling. This information will also be used to locate drill holes for the Company’s upcoming drill program.
Highlights:
- A minimum of 3,500 ft of trenching to test surface mineralization and establish high priority targets for follow up drilling. All current target areas are within the Empire State Mine surface property.
- Channel sampling within the active mine permit will aim to generate a bulk tonnage target for further metallurgical and graphitic carbon (Cg) concentrate testing.
- Sampling and Prospecting of the Kilbourne host unit is planned to target the entirety of the roughly 25,000 ft of known strike length.
- Pad and drill road preparation for the first phase of drilling, with a target of 12,000 feet.
The Kilbourne target has roughly 25,000 ft feet of mapped surface trace, lying entirely within Titan Mining mineral rights (see Figure 1). This initial phase of exploration will focus on identifying areas of elevated graphite mineralization at the surface. These mineralized zones will be tested down dip by drilling planned to begin as early as December 2023. The current footage target for this program is 12,000 ft. Equipment has mobilized to site to enable trenching and channel sampling of the mineralized lithology, and to begin pad and road preparation. Additional targets for channel sampling and trenching may be identified through the prospecting and mapping efforts.
As results from the trenching program become available the Company hopes to identify material suitable for bulk tonnage sampling within the currently permitted mine footprint. This material will be utilized in further metallurgical and concentrate end use studies.
Currently testing of diamond drill hole core material is being undertaken at SGS labs in Lakefield, Ontario. This testing will produce a Cg concentrate that will then be evaluated further to determine the appropriate end use(s). Initial results are expected in Q4 2023.
Donald Taylor, President and CEO of Titan, commented, “The location of this target, the grades we’ve seen to date, and the historic intercepts documenting mineralization make this a very compelling critical minerals project. If we can find a mineable body of graphite within our existing claims, we believe we will be a step or two ahead of other US graphite projects.”
About Kilbourne
The Kilbourne Target is an exploration stage graphite target within the existing mineral tenure of Titan Mining’s Empire State Mine. Average grade of mineralized intercepts is 2.5% Cg with high grade samples ranging up to 4.5% Cg. The target’s location within and adjacent to ESM’s active mine permit and infrastructure may offer an exciting opportunity for a domestic source of graphite.
Figure 1: Relative location of the Kilbourne Target horizon to ESM permits and infrastructure. Three areas have been identified for drilling, each green oval represents a target ~ 3,280 ft (1,000 m) in length. Trenching and channel sampling is to focus on known surface mineralization within permitted and accessible ground (red oval), and mapping and sampling will focus on the known extensions of the Kilbourne Host lithology to the east and south.
Qualified Person
The scientific and technical information contained in this news release and the sampling, analytical and test data underlying the scientific and technical information has been reviewed, verified and approved by Donald R. Taylor, MSc., PG, President and Chief Executive Officer of the Company, a qualified person for the purposes of NI 43-101. Mr. Taylor has more than 25 years of mineral exploration and mining experience and is a Registered Professional Geologist through the SME (registered member #4029597). The data was verified using data validation and quality assurance procedures under high industry standards.
About Titan Mining Corporation
Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan is built for growth, focused on value and committed to excellence. For more information on the Company, please visit our website at www.titanminingcorp.com.
Contact
For further information, please contact:
Investor Relations:
Email: info@titanminingcorp.com
Cautionary Note Regarding Forward-Looking Information
Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including plans and timing of exploration at the Kilbourne target; and potential results of such exploration. When used in this news release words such as “to be”, "will", "planned", "expected", "potential", and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. Such forward-looking statements are based on various assumptions, including assumptions made with regard to the ability to advance exploration efforts at ESM; the results of such exploration efforts; the ability to secure adequate financing (as needed); the Company maintaining its current strategy and objectives; and the Company’s ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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