Business
Titan Mining Continues to Expand the #2D Historic Mineralized Zone and Establishes US$18.7 Million Credit Facility
VANCOUVER, British Columbia, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) today provided an update on its expl
About this update from Titan Mining Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) today provided an update on its exploration program at the Empire State Mine (“ESM”). In the fourth quarter of 2018, the program focused on the down-plunge extension and infill drilling of the #2D zone. This zone is an extension of the large #2 mine which accounted for approximately half of the tons mined historically at ESM. The #2D zone and the #1D zone, which lies stratigraphically below, both contain unmined historic mineralized material. Significant mineralized intervals from the #2D and #1D zones include: 52.8 feet assaying 8.6% zinc (#2D) including 6.3 feet assaying 25.6% zinc 21.1 feet assaying 11.8% zinc (#2D) including 9.3 feet assaying 23.3% zinc 103.4 feet assaying 6.0% zinc (#2D) including 16.2 feet assaying 8.8% zinc 35.4 feet assaying 5.6% zinc (#2D) including 11.3 feet assaying 12.2% zinc 43 feet assaying 7.9% zinc (#2D) including 10 feet assaying 15.4% zinc and 7.6 feet assaying 18.0% zinc 9.2 feet assaying 25.7% zinc (#1D) Exploration drilling continues to expand the #2D mineralized zone down-plunge to the northeast and laterally. To date, the #2D zone has been extended by over 1,380 feet down-plunge from the historic mineralization, including an additional 660 feet from the previously-announced major expansion of the zone (refer to news release dated November 14, 2018). The assay results highlighted in this news release are from both step-out and infill drill holes which intersected multiple mineralized horizons, and demonstrate the continuity of mineralization along strike and laterally in the #2D zone. The location of this zone, approximately 650 feet east of the #4 shaft and at an elevation above the bottom of the shaft, is expected to provide strong operational advantages. The recent drilling also intercepted high-grade mineralization in the #1D zone, located approximately 275 feet below the #2D zone, and in the same stratigraphic layer as the historic #1 mine. This mineralization, believed to be the down-plunge portion of the #1D zone, is one of several targets that are located close to the current mine infrastructure and have the potential to increase the near-mine mineral resource base. “The recent drilling has more than doubled the strike length of the historic #2D zone and confi...