Titan Minerals Hits 363.8m of Near-Surface Gold at Kaliman, Eyeing Resource Growth
Key Takeaways
- Kaliman hole CVDD25-191 returned 363.8m @ 0.5 g/t Au, 2.5 g/t Ag and 0.11% Cu from just 2.2m, pointing to shallow, potentially open-pittable growth.
- CVDD25-195 delivered 184.4m @ 0.8 g/t Au from 3.6m, including a high-grade 11m zone at 7.6 g/t Au.
- Brecha-Comanche infill drilling came in wider and higher grade than the March 2026 MRE, including 34.4m @ 2.9 g/t Au, within a pit optimisation at US$3,500/oz gold.
- Only 1.21Moz of the 3.90Moz resource is Indicated, leaving 2.68Moz Inferred as the main conversion opportunity.
- An MRE update and Dynasty Scoping Study are both due in Q1 2027, backed by a drilling programme expanded to 20,000m with 17 holes still to report.
Kaliman porphyry drilling shows 363.8m of gold-silver-copper mineralisation from near surface
In its 14 October 2026 update, Titan Minerals (ASX:TTM) reported wide zones of porphyry hosted gold-silver mineralisation from surface at the Kaliman target, part of its 100% owned Dynasty Gold Project in Ecuador. The project carries a 3.9Moz gold, 26.1Moz silver Mineral Resource Estimate (MRE).
Two holes stand out. CVDD25-191 returned 363.8m @ 0.5 g/t Au, 2.5 g/t Ag, 0.11% Cu from 2.2m, while CVDD25-195 returned 184.4m @ 0.8 g/t Au from 3.6m.
Mineralisation that starts at or near surface matters because it can point to shallow, potentially open-pittable growth. The announcement describes the results as indicating potential for resource growth from shallow levels, though any mining outcome would need further work.
Melanie Leighton, Chief Executive Officer
“…further demonstrate Dynasty’s strong resource growth potential. They also reflect the outstanding work of our talented geology team…”
Key Kaliman intercepts
Intercepts in this article are drilled thickness, not true width. Titan states that results “should not be interpreted as true thickness at this time.”
| Hole ID | Interval | Au g/t | Ag g/t | Cu % |
|---|---|---|---|---|
| CVDD25-195 | 184.4m from 3.6m | 0.8 | 3.3 | 0.13 |
| CVDD25-195 (including) | 11m from 53m | 7.6 | 22.5 | n/a |
| CVDD25-191 | 363.8m from 2.2m | 0.5 | 2.5 | 0.11 |
| CVDD25-191 (including) | 24.7m from 58.2m | 2.5 | 14.3 | n/a |
| CVDD26-201 | 137.7m from 46m | 0.4 | 1.3 | n/a |
Cu is shown as n/a where the headline summary does not report a copper grade for that interval. Titan notes that CVDD25-191 and CVDD25-195 assays have not previously been reported.
Open in several directions
The announcement says Kaliman mineralisation remains open in several directions. Key points include:
- Strike and depth extensions to the porphyry hosted mineralisation remain open and untested.
- A southerly plunge has been highlighted, identifying a new extensional target and potential structural control to mineralisation.
- Overprinting high-grade epithermal vein hosted gold-silver mineralisation is present from near surface.
Earlier Kaliman results were reported on a gold equivalent (AuEq.) basis, for example 102.7m @ 1.6 g/t Au Eq. from 46.5m in CVD072. Those figures combine metals using assumed prices and recoveries, so they are not directly comparable with the gold-only results above.
Titan plans to test Kaliman extensions over the coming months, and says any additional mineralisation defined there is expected to have a meaningful impact on growing the Dynasty resources.
For readers wanting the earlier history of the project, our full explainer on Dynasty Gold Project drill results walks through the prior high-grade intercepts that built the current resource base.
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Brecha-Comanche infill drilling returns wider, higher-grade zones than modelled
Infill drilling at Brecha-Comanche intersected wider and higher-grade zones than modelled in the March 2026 MRE. The results sit within the Cerro Verde conceptual pit optimisation, which uses a gold price of US$3,500/oz.
Highlights include:
- CVDD26-215: 34.4m @ 2.9 g/t Au, 13.9 g/t Ag, 0.17% Cu from 202.3m, including 9.6m @ 3.7 g/t Au.
- CVDD26-207: 19.3m @ 2.3 g/t Au from 246m.
- CVDD26-212: 1.7m @ 10.6 g/t Au from 358.3m.
For investors, the point is what infill drilling is for. Ms Leighton said the two objectives are:
Melanie Leighton, Chief Executive Officer
“…upgrading resources to support a future pre-feasibility study and Ore Reserve and identifying mineralisation that may have been missed by wider-spaced drilling…”
Understanding resource conversion drilling
Mineral resources are graded by confidence. An Inferred resource has the lowest geological confidence, while an Indicated resource has higher confidence because the drilling is closer together.
Titan’s drilling targets a nominal 80m x 80m spacing to support Inferred resources and 40m x 40m to support Indicated resources. Tighter spacing lets geologists test continuity more closely, which is how infill drilling can upgrade confidence.
| Category | Tonnes (Mt) | Au (g/t) | Au (Moz) |
|---|---|---|---|
| Indicated | 17.36 | 2.18 | 1.21 |
| Inferred | 48.20 | 1.73 | 2.68 |
| Total MRE | 65.55 | 1.85 | 3.90 |
Most of the 3.90Moz gold sits in the Inferred category, which shows where conversion work has room to run.
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Four growth targets and what comes next
Cerro Verde targets
Titan has identified several growth targets within the Cerro Verde prospect:
- Shear hosted mineralisation: includes CVDD26-199, which returned 33.5m @ 6.6 g/t Au, 55.5 g/t Ag from 236.7m, outside the 2026 MRE. The mineralisation is interpreted to sit within a northwest structural corridor of about 1.6km by 800m.
- Brecha-Comanche waste dump: a roughly 10m veneer covering about 250m by 250m, which Titan believes potentially masks mineralisation extensions.
- Kaliman porphyry/vein/shear extensions: extensions to broad zones of vein and shear hosted mineralisation remain.
- Major structural intersection points: priority targets in areas of structural significance with limited drilling to date.
Programme status and Q1 2027 catalysts
The 2026 resource drilling programme stands at:
- 39 diamond holes for 9,100m completed, with results pending for 17 holes.
- The programme expanded to 20,000m.
- Four diamond rigs operating, with an RC rig being added to the fleet in the coming week.
The MRE update is expected in Q1 2027. The Dynasty Scoping Study is well advanced, with delivery anticipated in Q1 2027, and the MRE update will be incorporated into it.
Titan expects a significant number of results over the coming months, so news flow from Dynasty looks set to stay busy until the Q1 2027 deliverables arrive.
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