Titan Minerals Ltd (ASX: TTM) announced new drilling results this week after a major drilling campaign last year, but the more interesting news might be that a mineral resource update at its Dynasty project is imminent.
The team at Canaccord Genuity follow the company and has a very bullish share price target on the stock, which we'll get to later.
Firstly, to the drilling results announced this week.
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Major drilling campaign delivering results
The company completed a 25,000m drilling campaign in 2025, and this week reported that the drilling had intersected "further wide zones of gold, silver and copper porphyry mineralisation'' at the Kalimantan exploration target.
These results included intersections of 159.9m at 0.7 grams per tonne of gold equivalent, starting at just 2m from surface, and 138.4m at 0.8 grams per tonne of gold equivalent, starting at 3.6m from surface.
The company said there were extensive zones of porphyry and breccia-hosted mineralisation, which would be incorporated into the upcoming Dynasty mineral resource update.
The company said further:
The addition of wide zones of porphyry-hosted mineralisation has the potential to reduce strip ratios, increase the project scale, extend mine life and enhance overall economics. Mine studies are scheduled to commence upon delivery of the updated Mineral Resource in late Q1 2026.
Titan Chief Executive Melanie Leighton said regarding the results:
Time and time again, we see the scale and continuity of mineralisation being confirmed by our drilling. These latest results have continued to hit mineralisation as predicted by our modelling, and as identified by our surface mapping and geochemistry where we have designed drilling to test new extensional areas. Cerro Verde already has epithermal hosted resources of 1.9Moz gold and 12Moz silver, so incorporating bulk zones of porphyry and breccia hosted mineralisation is set to substantially grow and enhance resources. I'm pleased to advise that Entech Mining, are in the final stages of the Mineral Resource estimation and we look forward to delivering the Dynasty resource update very soon. Orelogy Mine Consulting are undertaking preparatory work, ready to commence mine studies upon delivery of the updated resource. There are many other exciting targets that remain to be tested at Dynasty, and we look forward to getting the drill rigs out to test the compelling porphyry copper targets and new gold targets that have been highlighted by technical workshops recently held in Ecuador.
Shares looking cheap
The team at Canaccord said they had updated their model, but had left their price target unchanged at $1.95, compared with 99.5 cents for Titan shares currently.
But they pointed out that the valuation is based on the "soon to be outdated" previous resource estimate.
The ASX gold company was valued at $291.8 million at the close of trade on Wednesday.
