ECUADOR — Titan Minerals Limited (ASX:TTM) has announced the commencement of a significant 10,000-metre diamond drilling campaign at its Linderos Copper Project.

This development is part of a joint venture and earn-in agreement with Hanrine, a wholly-owned subsidiary of Hancock Prospecting, marking a pivotal moment in the project’s progression.

Under the terms of the agreement, Hanrine can acquire up to an 80 per cent interest in the Linderos Copper Project by achieving specific exploration milestones or by investing up to US$120 million (A$180 million).

The first milestone, which grants Hanrine an initial 5 per cent interest, has already been completed with a US$2 million cash payment to Titan Minerals.

The second milestone, currently underway, involves a 10,000-metre diamond drilling campaign that began in early November.

This phase aims to earn Hanrine an additional 25 per cent interest.

A second drill rig is expected to commence operations soon, with the entire drill program anticipated to conclude by the second quarter of 2025.

The third milestone will involve completing an additional 15,000 metres of drilling to further increase Hanrine’s stake by 21 per cent.

Melanie Leighton, CEO of Titan Minerals, expressed enthusiasm about the rapid initiation of drilling activities and highlighted Hanrine’s commitment and capability in advancing exploration efforts.

She noted that the partnership with Hanrine is crucial for unlocking the potential of the Linderos Project, which is believed to host a globally significant porphyry copper deposit.

The Linderos Project encompasses four contiguous mineral concessions over an area of 143 square kilometres in southern Ecuador.

Preliminary work has indicated strong potential for substantial extensions and multiple porphyry targets, alongside evidence of shallow epithermal gold systems.

Titan Minerals is committed to responsible exploration and development practices as it seeks to advance its portfolio of large-scale copper-gold projects in Ecuador’s southern Andean copper-gold belt.

This strategic partnership with Hanrine not only strengthens Titan’s position in Ecuador but also aligns with the country’s growing reputation as a mineral-rich nation.

With Ecuador’s supportive government policies towards mining and exploration, both companies are poised to capitalise on this opportunity to contribute significantly to the region’s economic development.