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TTM reinstated as Jerusalem Gold Project owner by Ecuador Government

Author : Saipriya Iyer | Published Date : 2020-09-22 

Titan Mineral (TTM), a renowned exploration and development firm aimed at exploring and delineating Tier One projects across Ecuador, has reportedly announced that it has been reinstated as the owner of the Jerusalem Gold Project by the Ecuadorian Ministry of Mines.

The addition of the Jerusalem project is a big achievement and a significant addition to the company’s existing resource base. The current foreign resource estimation in the Jerusalem Project of gold is 1.28Moz providing an average of 14.5g/t. Likewise, the project also has 8.6Moz silver, offering an average of 98g/t.

While not being a JORC compliant resource, the firm believes that Foreign Estimate is reliable with data compilation work and estimation methodologies acceptable for techniques used during the estimation to give a proper reason to take decision and consider the property to be perfect for further exploration costs. However, the property is not of the right quality to underpin economic reviews.

Before today’s reinstatement of the company as owner, TTM had an existing 2.1Moz resource with an average 4.5g/ton gold resource inventory in its Dynasty Project. With the addition of the Jerusalem Gold Project, the company’s resource base has increased by 64%. More importantly, the Jerusalem project is not an acquisition by TTM, but instead has been offered back to the company, which means that there is no equity dilution.

In addition, a notable point is that this project is situated on-trend between Fruta del Norte deposit, about 40 km in the north, sharing a common border with Luminex Resources’ Condor Project. The $2.4 billion capped Lundin Gold operates the Fruta del Norte, which is a leading gold mine that also possess the most valuable green fields discovery of gold in the past 15 years. Meanwhile, the Luminex Resources’ Condor project in the south is a host to the significant 5 million ounce resource.

Source credit: http://www.lcnews.co.kr/news/articleView.html?idxno=8716

About Author

Saipriya Iyer

Saipriya Iyer

Saipriya Iyer presently works as a content developer for fractovia.org. Having dabbled with the domain of content creation for nearly half a decade, she now boasts of an enviable portfolio, holding substantial experience in penning down pieces related to technology, finance, and a wide spectrum of other industry verticals. A qualified computer engineering graduate from the University of Pune, Saipriya can often be found leveraging her knowledge of software technology and electronics in her write-ups. She can be contacted at- [email protected] | https://twitter.com/saipriya_i

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