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Titan Announces Significant High Grade Drill Extensions to ESM Open Pit Project

VANCOUVER, British Columbia, May 25, 2022 (GLOBE NEWSWIRE) — Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) is pleased to provide…

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VANCOUVER, British Columbia, May 25, 2022 (GLOBE NEWSWIRE) — Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) is pleased to provide an update on near mine drilling recently completed at its 100%-owned Empire State Mine (“ESM”) in New York State revealing significant mineralized extensions of the #2 Ore Body, which has accounted for approximately half of the tons mined historically at ESM. Results include assays from drilling completed in West Ridge, the historic #2 Pit Area, Turnpike and Pump House. Each of these targets represents near surface extensions of the #2 Ore Body.

Drilling Highlights

Key Mineralized intervals from West Ridge include:

  • 6.5 feet (2 meters) assaying 14.1% zinc, 1.9% lead, and 30.7 g/t silver
  • 101 feet (30.7 meters) assaying 4.1% zinc, 0.8% lead, and 12.2 g/t silver
    • Including 8.3 feet (2.5 meters) assaying 9.7% zinc, 3.9% lead, and 29.7 g/t silver
  • 118 feet (36.2 meters) assaying 7.1% zinc, 0.6% lead, and 8 g/t silver
    • Including 19.6 feet (6 meters) assaying 15.3% zinc, and 5 g/t silver; and
    • 32.5 feet (9.9 meters) assaying 10% zinc, 0.4% lead, and 5.2 g/t silver
  • 107 feet (32.5 meters) assaying 5.1% zinc, 1.3% lead, and 15.3 g/t silver
    • Including 17 feet (5.2 meters) assaying 18% zinc, 5.9% lead, and 46.4 g/t silver

Key Mineralized intervals from the historic #2 Pit Area include:

  • 114.7 feet (34.9 meters) assaying 6.1% zinc, 0.9% lead, and 9.7 g/t silver.
    • Including 16.7 feet (5.1 meters) assaying 12.5% zinc, 3.1% lead, and 23.9 g/t silver; and
    • 13.3 feet (4 meters) assaying 17.6% zinc, 1.5% lead, and 17 g/t silver
  • 48.4 feet (14.8 meters) assaying 7.5% zinc, 1.8% lead, and 20.4 g/t silver
    • Including 24 feet (7.3 meters) assaying 10.9% zinc, 2.7% lead, and 31.5 g/t silver
  • 38.9 feet (11.8 meters) assaying at 7.4% zinc, 2.0% lead, and 16.8 g/t silver
    • Including 15.7 feet (4.8 meters) assaying at 16.5% zinc, 4.4% lead, and 35.3 g/t silver
  • 24.8 feet (7.6 meters) assaying 14.7% zinc, 3.7% lead, and 29.9 g/t silver

Key Mineralized intervals from Turnpike include:

  • 101.7 feet (31 meters) assaying 4.5% zinc, 1.3% lead, and 8.9 g/t silver.
    • Including 47.4 feet (14.4 meters) assaying 7% zinc, 2.2% lead, and 14.5 g/t silver.

Key Mineralized intervals from Pumphouse include:

  • 32.3 feet (9.8 meters) assaying 14.8% zinc, 0.8% lead, and 18.2 g/t silver

A full listing of the drill results can be found in Tables I, II, III and IV below. Drill hole coordinates are set out in Table V.

2022 ESM Open Pit – Surface Drilling

In Q1 2022 a 27 hole drill program was completed in and around the #2 Ore Body. This drilling has successfully extended mineralization to the SW of the Hoist House Zone and identified a new zone of mineralization labeled West Ridge (see Figures 1 and 2). Eight holes have been completed within the historic #2 pit, targeting the remnant crown pillar, returning positive results and extending the previously drilled zinc mineralization in this area. Additionally, two holes have been drilled targeting the down dip extension of mineralization at the planned Turnpike open pit.

ESM General Manager Joel Rheault commented, “The most recent drill results provide encouragement that the areas targeted for open pit mining are going to be larger and higher grade than originally anticipated, which will extend the project life. Additionally, the down dip extensions of this mineralization may provide targeted areas for underground extraction. Overall, the project will lead to additional employment at ESM and incrementally increase the number of payable zinc pounds produced.”

Table I. Mineralized intervals from West Ridge

West Ridge                              
Hole ID From (ft) To (ft) Interval (ft) From (m) To (m) Interval (m) Zn% Pb% Ag g/t            
SX22-2602 10.0 24.1 14.1 3.0 7.3 4.3 5.3 0.4 7.5            
  89.6 192.8 103.2 27.3 58.6 31.4 2.5 0.4 5.4            
including 121.6 132.1 10.5 37.0 40.2 3.2 4.3 0.5 8.5            
 and 158.9 162.9 4.0 48.3 49.6 1.2 7.3 1.2 11.6            
 and 186.3 192.8 6.5 56.7 58.6 2.0 14.07 1.9 30.7            
SX22-2603 14.0 115.0 101.0 4.3 35.0 30.7 4.1 0.8 12.2            
including 42.3 50.6 8.3 12.9 15.4 2.5 9.7 3.9 29.7            
and 104.3 110.5 6.2 31.7 33.6 1.9 8.6 2.5 21.0            
SX22-2604 25.8 133.0 107.0 7.8 40.5 32.5 5.1 1.3 15.3            
including 41.2 58.2 17.0 12.5 17.7 5.2 18.0 5.9 46.4            
SX22-2605 46.1 165.0 118.9 14.0 50.2 36.2 7.1 0.6 8.0          
including 46.1 65.7 19.6 14.0 20.0 6.0 15.3 5.0      
 and 78.7 111.2 32.5 23.9 33.8 9.9 10 0.4 5.2        
and 128.8 139.8 11.0 39.2 42.5 3.3 7.7 2.8 23.2        
 and 150.7 165.0 14.3 45.8 50.2 4.4 7.9 1.7 18.8        
SX22-2606 47.4 51.3 3.9 14.4 15.6 1.2 12.8 5.1 36.4            
SX22-2607 no significant intercepts            
SX22-2608 98.3 132.8 34.5 29.9 40.4 10.5 3.3 6.1            
SX22-2609 43.9 51.2 7.3 13.4 15.6 2.2 1 1.1 71.8            
SX22-2610 37.4 46.0 8.6 11.4 14.0 2.6 3.0 0.8 10.2            
  107.1 207.7 100.6 32.6 63.2 30.6 1.7 0.1 3.0            
including 126.2 146.8 20.6 38.4 44.7 6.3 3.9 0.4 7.2            
 and 174.2 184.0 9.8 53.0 56.0 3.0 5.7 0.1 3.1            
                               

* Based on historic models and neighboring drillholes, the technical team believes SX22-2605 may have tested the remnants of a historic pillar.

Note: The true width of the mineralization is not currently known.

The #2 pit is located 1 mile south of the ESM # 4 mine and milling complex. Drilling has tested remnant crown pillar mineralization to the southwest of the previously identified Hoist House Zone (Figures 1-2) and the remnant mineralization beneath the #2 Pit. Mineralization has been intercepted within the gaps of the historic #2 surface and underground workings.

Table II. Mineralized intervals from the #2 Pit

#2 Pit                  
Hole ID From (ft) To (ft) Interval (ft) From (m) To (m) Interval (m) Zn% Pb% Ag g/t
SX22-2611 27.4 37 9.6 8.3 11.3 2.9 3.6 0.5 6.6
SX22-2612 5.8 120.5 114.7 1.8 36.7 34.9 6.1 0.9 9.7
including 26 42.7 16.7 7.9 13.0 5.1 12.5 3.1 23.9
and 53.2 74.7 21.5 16.2 22.7 6.5 5.7 0.2 6.2
and 107.2 120.5 13.3 32.6 36.7 4.0 17.6 1.5 17
SX22-2613 3.4 51.8 48.4 1.0 15.8 14.8 7.5 1.8 20.4
including 27.8 51.8 24 8.5 15.8 7.3 10.9 2.7 31.5
  93.8 140.7 46.9 28.6 42.9 14.3 3.3 0.4 4.7
including 129.3 140.7 11.4 39.4 42.9 3.5 9.8 1.2 10.7
SX22-2614 No significant intercepts
SX22-2615 55.0 65.0 10.0 16.8 19.8 3.0 2.7 0.4 8.5
SX22-2616 8.1 47.0 38.9 2.5 14.3 11.8 7.4 2.0 16.8
including 8.1 23.8 15.7 2.5 7.2 4.8 16.5 4.4 35.3
SX22-2617 5.8 30.6 24.8 1.8 9.3 7.6 14.7 3.7 29.9
  171 190.1 19.1 52.1 57.9 5.8 6.0 0.8 6.9
SX22-2618 87.9 139.7 51.8 26.8 42.6 15.8 3.2 0.4 4.5

Note: The true width of the mineralization is not currently known.

Table III. Mineralized intervals from Turnpike

Turnpike                
Hole ID From (ft) To (ft) Interval (ft) From (m) To (m) Interval (m) Zn% Pb% Ag g/t
SX22-2619 59.6 67.8 8.2 18.1 20.6 2.5 3.5 0.5 5.7
  178.8 227 48.2 54.5 69.2 14.7 3.0 0.4 10.2
  459.1 560.8 101.7 139.9 170.9 31.0 4.5 1.3 8.9
including 513.4 560.8 47.4 156.5 170.9 14.4 7.0 2.2 14.5
SX22-2620 69.3 75.9 6.6 21.1 23.1 2.0 4.9 0.9 7.5
  148.0 181.6 33.6 45.1 55.4 10.2 3.4 0.3 5.4
including 156.4 168.1 11.7 47.7 51.2 3.6 7.0 0.5 7.9
  412.5 453.2 40.7 125.7 138.1 12.4 2.1 0.4 4.7
including 423.2 436.8 13.6 129.0 133.1 4.1 4.0 0.6 7.4
  495.3 544.8 49.5 151.0 166.1 15.1 3.6 1.6 15.7
including 506.2 521.5 15.3 154.3 159.0 4.7 6.0 1.6 15.7

Note: The true width of the mineralization is not currently known.

Surface Drilling – Pump House 2021

Additionally, eight holes were drilled within the Pump House target area and are being incorporated into open pit planning. Table IV highlights intercepts from this program.

Table IV. Mineralized intervals from the 2021 Pump House

Pump House                  
Hole ID From (ft) To (ft) Interval (ft) From (m) To (m) Interval (m) Zn% Pb% Ag g/t  
SX21-2590 42.3 103.3 61.0 12.9 31.4 18.6 2.5 0.3 5.8  
including 66.5 76.5 10.0 20.2 23.3 3.0 8.9 0.2 8.9  
SX21-2591 40.4 104.3 63.9 12.3 31.7 19.4 1.7 0.2 3.4  
including 82.9 94.0 11.1 25.2 28.6 3.4 5.6 0.2 5.7  
SX21-2592 1.0 10.7 9.7 0.3 3.3 3.0 4.4 1.2 12.2  
  32.1 64.35 32.25 9.8 19.6 9.8 14.8 0.8 18.2  
SX22-2593 no significant intercepts  
SX22-2594 no significant intercepts  
SX21-2595 6.0 15.7 9.7 1.8 4.8 3.0 3.0 0.4 7.8  
SX22-2596 no significant intercepts  
SX22-2597 no significant intercepts  

Note: The true width of the mineralization is not currently known.

Table V. Drill Hole Coordinates

Collars            
Hole ID Depth (ft) Easting (ft) Northing (ft) Elevation (ft) Azimuth Dip
SX21-2590 197 16752 3426 715 125 -55
SX21-2591 189 16713 3381 716 125 -55
SX21-2592 197.7 16669 3310 709 125 -55
SX21-2593 193 16621 3215 696 125 -55
SX21-2594 200 16856 3425 707 125 -55
SX21-2595 97 16804 3323 705 125 -55
SX21-2596 60 16750 3265 702 125 -55
SX21-2597 57 16746 3275 708 125 -55
SX22-2602 276 16996 4030 690 120 -45
SX22-2603 116 16942 3993 688 130 -45
SX22-2604 134 16893 3951 687 120 -45
SX22-2605 166 16888 3954 687 120 -80
SX22-2606 52 16929 4000 688 120 -80
SX22-2607 59 16972 4047 690 120 -80
SX22-2608 236 17043 4061 693 120 -45
SX22-2609 54 17017 4076 692 120 -80
SX22-2610 239 17128 4142 699 120 -65
SX22-2611 44 16947 3755 651 77 -45
SX22-2612 156 16959 3746 650 120 -40
SX22-2613 186 16916 3720 652 120 -40
SX22-2614 44 16883 3752 648 120 -45
SX22-2615 67 16875 3756 648 0 -90
SX22-2616 216 16836 3684 659 120 -42
SX22-2617 237 16829 3687 661 120 -90
SX22-2618 185 16882 3652 658 120 -40
SX22-2619 564 17285 4279 697 105 -55
SX22-2620 676 17288 4279 697 105 -45

Figure 1 – Location of drilling relative to ESM #4 Mine/Mill Complex is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/876a8479-3ae1-40c1-84eb-0306b0b3c0f9

Figure 2 – Location of drilling relative to 2019-2020 Drilling and the Hoist House/Pump House/Turnpike outlines is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7f5496e8-0340-46b8-843c-b1dc8320fbbd

Qualified Person

The scientific and technical information contained in this news release and the sampling, analytical and test data underlying the scientific and technical information has been reviewed, verified and approved by Donald R. Taylor, MSc., PG, President and Chief Executive Officer of the Company, a qualified person for the purposes of NI 43-101. Mr. Taylor has more than 25 years of mineral exploration and mining experience and is a Registered Professional Geologist through the SME (registered member #4029597). The data was verified using data validation and quality assurance procedures under high industry standards.

Assays and Quality Assurance/Quality Control

To ensure reliable sample results, the Company has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks and certified reference standards at statistically derived intervals within each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes.

Sample preparation (crushing and pulverizing) has been performed at ALS Geochemistry (“ALS”), an independent ISO/IEC accredited lab located in Sudbury, Ontario, Canada. ALS prepares a pulp of all samples and sends the pulps to their analytical laboratory in Vancouver, B.C., Canada, for analysis. ALS analyzes the pulp sample by an aqua regia digestion (ME-ICP41 for 35 elements) with an ICP – AES finish including Cu (copper), Pb (lead), and Zn (zinc). All samples in which Cu (copper), Pb (lead), or Zn (zinc) are greater than 10,000 ppm are re-run using aqua regia digestion (Cu-OG46; Pb-OG46; and Zn-OG46) with the elements reported in percentage (%). Silver values are determined by an aqua regia digestion with an ICP-AES finish (ME-ICP41) with all samples with silver values greater than 100 ppm repeated using an aqua regia digestion overlimit method (Ag-OG46) calibrated for higher levels of silver contained. Gold values are determined by a 30 g fire assay with an ICP-AES finish (Au-ICP21).

The Company has not identified any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data set out in this news release.

About Titan Mining Corporation

Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan is built for growth, focused on value and committed to excellence. For more information on the Company, please visit our website at www.titanminingcorp.com.

Contact

For further information, please contact:

Investor Relations:
Email: [email protected]

Cautionary Note Regarding Forward-Looking Information

Certain statements and information contained in this new release constitute “forward-looking statements”, and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including that the most recent drill results provide encouragement that the areas targeted for open pit mining are going to be larger and higher grade that than originally determined anticipated, which will extend the project life; that the down dip extensions of this mineralization may provide targeted areas for underground extraction; that the project will lead to additional employment at ESM and incrementally increase the number of payable zinc pounds produced; and that the results of particular holes are being added to open pit planning. When used in this news release words such as “to be”, “will”, “planned”, “expected”, “potential”, and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company’s periodic filings with Canadian securities regulators. Such forward-looking statements are based on various assumptions, including assumptions made with regard to the ability to advance exploration efforts at ESM; the results of such exploration efforts; the ability to secure adequate financing (as needed); the Company maintaining its current strategy and objectives; and the Company’s ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

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