Hancock Prospecting Expands Porphyry Copper Mineralization at Linderos Project
Titan Minerals Limited (ASX:TTM) has announced significant drill results from its Linderos Copper Project in Ecuador, where joint venture partner Hancock Prospecting continues to extend the known porphyry copper mineralization through an extensive drilling campaign.
Drilling Confirms Extensive Mineralization Over 1km Strike Length
Recent drilling conducted by Hancock's subsidiary Hanrine has successfully defined porphyry mineralization over a one-kilometer strike length and down to one-kilometer depth, substantially expanding the known resource envelope. The latest drilling campaign has delivered several impressive intercepts that demonstrate the significant scale potential of the Linderos Copper Project.
Key recent drilling results include:
- 693.9m @ 0.25% Cu Eq from 325.5m, including 164m @ 0.33% Cu Eq from 594m, and 44.8m @ 0.45% Cu Eq from 846m in DHCR-09
- 262.9m @ 0.37% Cu Eq from 196.1m, including 16m @ 0.70% Cu Eq from 359.1m in DHCR-05
- 274.4m @ 0.30% Cu Eq from 342.7m, including 30m @ 0.45% Cu Eq from 403.5m in DHCR-11
These results build upon previously announced significant intercepts including:
- 308m @ 0.39% Cu Eq from 54m, including 76m @ 0.55% Cu Eq from 132m in CRDD22-003
- 735m @ 0.23% Cu Eq from 385m, including 131m @ 0.29% Cu Eq from 385m in DHCR-02
- 398m @ 0.24% Cu Eq from 420m, including 178m @ 0.30% Cu Eq from 453.5m in DHCR-01
Importantly, the mineralization remains open laterally and at depth, suggesting significant growth potential as drilling continues. The consistency of mineralization throughout the porphyry system supports the prospect of defining a substantial copper resource as exploration progresses.
"We are excited to share more highly encouraging results from the Linderos Copper Project, where our JV partner, Hanrine (Hancock subsidiary) has been undertaking a two-phase 25,000 metre diamond drilling campaign as part of their project earn-in commitment," said Titan's CEO Melanie Leighton.
Hancock Progressing Through Earn-In Milestones
The drilling program is being conducted as part of Hancock's joint venture earn-in agreement, with recent developments marking significant progress through the predefined milestones:
- In June 2025, Hanrine completed JV Earn-in Milestone 2 by drilling 10,000m, earning an additional 25% interest in the Linderos Copper Project (bringing their total to 30%)
- Milestone 3 is now underway with two drill rigs in operation as Hancock works to complete an additional 15,000m of drilling to earn another 21% interest (taking total to 51%)
This partnership structure allows for non-dilutive exploration and development of the Linderos Copper Project while maintaining Titan's exposure to the exploration upside. The joint venture agreement follows a staged approach that could ultimately result in Hancock earning up to 80% of the project through various milestones, including a decision to mine.
The table below outlines the JV earn-in milestone structure:
| Milestone | Commitment | Expenditure | % Earned | % Cumulative | Timeline (years) | Status |
|---|---|---|---|---|---|---|
| 1 | – | USD $2M (Cash Payment) | 5% | 5% | 0 | COMPLETE |
| 2 | 10,000m drilling | $8M | 25% | 30% | 3 | COMPLETE |
| 3 | 15,000m drilling | $12M | 21% | 51% | 7 | UNDERWAY |
| 4 | Decision to Mine | $120M | 29% | 80% | 15 | PENDING |
Understanding Porphyry Copper Systems
Porphyry copper deposits represent some of the world's largest copper resources and are characterized by large volumes of low-grade mineralization, often containing valuable by-products like gold and molybdenum. These deposits typically form in arc-related tectonic settings and are associated with intrusive igneous rocks.
The Copper Ridge porphyry at Linderos displays classic characteristics of these systems:
- Host Rock: Mineralization hosted in diorite porphyry
- Alteration: Potassic alteration with secondary biotite and quartz-alkali feldspar
- Mineralization Style: Vein-hosted and disseminated chalcopyrite-pyrite-pyrrhotite-molybdenite mineralization
- Metal Association: Strong correlation between copper and gold values
- Zoning Patterns: Higher-grade molybdenum values outboard of copper-gold mineralization
Geologists observe that copper and gold show a strong correlation due to the mineralization type related to a gold-rich porphyry system, where the gold is hosted in disseminated chalcopyrite as well as in veinlets. Higher grade molybdenum values are observed to be outboard of the higher-grade copper-gold porphyry mineralization, with high-grade molybdenum intercepts returned in several intra-late porphyry phases.
This geological understanding is crucial as it helps guide exploration strategy toward higher-grade portions of the system that could enhance project economics. The identification of a northwest-southeast orientation to the mineralized system is particularly important for targeting future drilling.
Strategic Importance of the Linderos Project
The Linderos Project occupies a strategic position in southern Ecuador, situated within a major metallogenic corridor extending from Peru through northern Ecuador. This corridor is associated with Palaeocene to late Miocene aged intrusions that host numerous significant porphyry copper and epithermal gold deposits.
Located in the Loja Province near the Peruvian border, the project covers 143 square kilometers across four contiguous concessions. The geological setting is particularly favorable, with the project situated within a major flexure of the Andean Terrane within a corridor of mineralization associated with intrusions that have produced several significant deposits in the region.
The project area includes:
- The Copper Ridge porphyry prospect (focus of current drilling)
- The Meseta Gold Prospect (high-grade epithermal gold mineralization)
- Multiple additional exploration targets within the concession area
Previous drilling at the Meseta Gold Prospect has returned significant high-grade gold intercepts, including:
- 7.22m @ 13.77 g/t Au, 12.90g/t Ag from 66.3m within a broader intersection of 76.5m @ 1.41g/t Au
- 4.88m @ 12.87 g/t Au, 6.04 g/t Ag from 41.0m, including 1.64m @ 33.35 g/t Au from 44.24m
"Partnering with Hancock allows for non-dilutive exploration and development of the Linderos Copper Project, while maintaining Titan's exposure to the exploration upside of what could be a significant scale porphyry copper deposit in an emerging mining jurisdiction," Titan's CEO Melanie Leighton commented.
Next Steps and Exploration Focus
Current drilling is focused on testing the northwest and southeast extensions of the Copper Ridge porphyry mineralization, where limited or no previous drilling has been conducted. The drilling campaign will continue to test extensions while also targeting higher-tenor mineral porphyry phases.
The northwest-southeast orientation of the mineralized system is particularly encouraging as it highlights potential for extensions in both directions, including beneath the Meseta epithermal gold prospect where previous drilling only tested to shallow depths of approximately 150 meters.
Drilling is being conducted with diamond core methods using HTW and NTW diameter core, with holes oriented to intercept both A and B vein sets and to be perpendicular to the interpreted northwest-southeast orientation of the porphyry intrusion.
As exploration progresses, the company expects to continue reporting results from the ongoing drill program, with two diamond drill rigs currently active at the project site.
Why Investors Should Follow Titan Minerals
Titan Minerals presents a compelling investment opportunity with several key advantages:
-
Strategic Partnership: The joint venture with Hancock Prospecting provides funding for substantial exploration without shareholder dilution while maintaining significant project upside.
-
Emerging Resource Scale: Drilling results continue to expand the mineralized footprint, indicating potential for a large-scale porphyry copper system. The consistency of mineralization across multiple drill holes supports the prospect of defining a substantial resource.
-
Multiple Value Drivers: Beyond the Copper Ridge porphyry, the project includes the high-grade Meseta gold prospect and additional exploration targets identified within the 143km² concession area.
-
Favorable Jurisdiction: Ecuador continues to emerge as an important mining destination with supportive government policies and significant recent discoveries by major mining companies.
-
Experienced Management: Titan's team has demonstrated the ability to attract top-tier partners and advance projects effectively, as evidenced by the partnership with Hancock Prospecting.
With drilling ongoing and regular results expected, investors should watch closely as Titan and Hancock continue to define what could become a significant copper resource in Ecuador's emerging mining sector. The completion of Milestone 3 drilling, expected in mid-2026, represents the next major catalyst for the project.
Ready to Invest in Ecuador's Emerging Copper Opportunity?
Discover how Titan Minerals and Hancock Prospecting's successful drilling programme at the Linderos Copper Project could represent a significant investment opportunity in Ecuador's developing mining sector. To learn more about Titan Minerals (ASX:TTM) and their strategic copper-gold assets, visit their website for investor information, project updates and details on their expanding porphyry copper mineralisation.
