Titan Minerals hits 700 metres of copper mineralisation as Hancock earns 51% of Linderos in Ecuador

Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has reported another broad porphyry copper intersection from the Linderos Copper Project in Ecuador, where Hancock Prospecting subsidiary Hanrine has now earned a 51% interest after meeting a US$20 million expenditure commitment.

The standout result from the Copper Ridge prospect was: 700.4 metres at 0.36% copper equivalent from 270.3 metres, including 20 metres at 0.82% copper equivalent and 164.8 metres at 0.52% copper equivalent in drill hole DHCR-15.

A second hole returned 302.3 metres at 0.32% copper equivalent from 197.1 metres, including 102.3 metres at 0.37% copper equivalent.

Titan's drilling had confirmed a porphyry copper system extending for more than one kilometre along strike and to a depth of about one kilometre, with mineralisation remaining open laterally to the south and at depth.

Hanrine has completed the third milestone under its joint venture and earn-in agreement after spending US$20 million at Linderos in less than two years, well ahead of the permitted seven-year timeframe.

Titan will receive a US$1 million cash payment once the administrative transfer of the 51% mineral concession interest is completed.

Titan retains a 49% stake and will remain free-carried until Hanrine completes the final earn-in milestone, which requires either...