Titan Mining Discovers Near-Mine Open-Pitable Mineralization at Empire State Mine, Including 15 Feet Grading 12.4% Zinc
VANCOUVER, British Columbia, Nov. 21, 2019 (GLOBE NEWSWIRE) — Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) is pleased to announce the results from surface drilling at its 100%-owned Empire State Mine (“ESM”) in New York State. The current drill program is focused on two recently-identified near-surface zinc targets (Figures 1 and 2). The Hoist House zone is interpreted as an extension of the large #2 mine, which accounted for approximately half of the tons mined historically at ESM, and the Turnpike zone as an extension of the historic #1 mine. To date, three holes have been completed at the Hoist House zone and drill testing of this zone continues. A second drill has begun initial testing of the Turnpike zone.
Key mineralized intervals from the Hoist House zone include:15 feet assaying 12.4% zinc15.5 feet assaying 8.0% zincIncluding 4.3 feet assaying 19.3% zinc70 feet assaying 2.2% zincIncluding 3.5 feet assaying 11.7% zinc56 feet assaying 2.0% zincIncluding 14.5 feet assaying 5.0% zincDon Taylor, Chief Executive Officer, commented, “We have identified several near-surface targets at the mine site, and in the district, which we believe present an opportunity for ESM to add low-cost near-term production. The zones have good continuity along strike as well as at depth and contain higher grade zinc mineralization interbedded with lower grade lenses that can be accessed through open pit mining. The current drill program will allow us to evaluate the zones quickly for potential mining. We are initially focusing on targets near the existing infrastructure and, if economic, these new zones could provide incremental mill feed to help fill existing capacity at ESM. Existing permits allow for open pit mining and we will work with regulators to determine if any additional studies are required.”Scott Burkett, Vice President, Exploration, stated, “We have been very pleased with the continuity and size of the mineralized zones as indicated by surface drilling. The mineralogy and coarse-grained sulphides are similar to the #2D zone currently being developed for underground mining and, as such, we anticipate that the processing method and recovery rates will be similar. Metallurgical samples have been collected and testing has begun onsite.”The Hoist House zone is located one mile south of the ESM #4 mine and milling complex and is interpreted to be the unmined extension of the historic #2 zone. Historic drilling indicates that the Hoist House zone extends to a depth of at least 300 feet over a strike length of 600 feet. It consists of two mineralized horizons, the hanging wall (“HW”) and footwall (“FW”) horizons, with a range of thickness of 10 to 20 feet and 30 to 70 feet, respectively (Figure 3).A second zone currently being drill tested is the Turnpike zone, which was identified based on the interpreted geology. The Turnpike zone is located 600 feet to the southeast of the Hoist House zone and is interpreted to be the unmined extension of the historic #1 zone. Historic mapping identified outcropping mineralization with a strike length of 450 feet, and historic drilling indicates that the zone is between 20 and 50 feet thick.SX19-2475 is an inclined hole drilled from surface, targeting the Hoist House zone. The drill hole intercepted the HW and FW mineralized horizons. It confirmed the presence of near-surface mineralization and revealed robust lower-grade mineralization in the FW horizon. Significant mineralized intervals were:11 feet assaying 6.4% zinc (HW)56 feet assaying 2.0% zinc (FW)Including 14.5 feet assaying 5.0% zincSX19-2476 is an inclined hole drilled from surface on the same section as SX19-2475. The drill hole targeted HW and FW mineralization down dip from SX19-2475. The drill hole intercepted the HW and FW mineralized horizons, demonstrating the down-dip continuity of mineralization and confirming the presence of the FW horizon. Notable mineralized intervals were:15.5 feet assaying 8.0% zinc (HW)Including 4.3 feet assaying 19.3% zinc35.6 feet assaying 3.1% zinc (FW)SX19-2477 is an inclined hole drilled from surface. The hole is an infill hole which was drilled between SX19-2475 and SX19-2476 and completed the drill fan linking the HW and FW mineralized horizons together down dip. Noteworthy mineralized intervals were:15 feet assaying 12.4% zinc (HW)70 feet assaying 2.2% zinc (FW)Including 3.5 feet assaying 11.7% zincFor a full list of the Hoist House mineralized intervals from these holes, refer to Table 1.
Figure 1 – Location of Near-Surface Drill Targets at ESMhttps://www.globenewswire.com/NewsRoom/AttachmentNg/c67a4158-0094-4465-b287-afe6e3878f4aFigure 2 – Plan View of Hoist House and Turnpike Zones Showing Drill Hole Locationshttps://www.globenewswire.com/NewsRoom/AttachmentNg/baf235cd-8cc2-46be-bf98-426dc3da704eFigure 3 – Cross Section of Hoist House Zone Looking Northeast and Showing Drill Holes and Selected Mineralized Intervalshttps://www.globenewswire.com/NewsRoom/AttachmentNg/5ff2257b-44ee-4b95-b1db-e0e19bcea277