January 4, 2024 (Source) — Titan Discovery Corp. (“TDC”, “Titan” or the “Company”) provides an update on the recent developments at Uffen Zone, Peninsula Property, as well as recent Corporate Development activities.
We are pleased to provide this update on Titan Discovery Corp. (TDC), a soon-to-be-public company that is focused on advanced-stage exploration and development of a diversified critical metals project located near to tidewater in Quebec, Canada. TDC controls 574 mineral claims over 312 square kilometres. The claims account for most of the ground surrounding the Lac Tio Project in Northern Quebec, which has been producing titanium for approximately 70 years and has been a driver of development and infrastructure in the immediate area.
Sampling of titanium-bearing rocks from the Peninsula Project have returned results as high as:
- 11% apatite, 13.45% ilmenite + significant scandium, vanadium, & REEs in the Recrystallized Zone resulting in world class concentrate grades of 48% TiO2 and 40% P2O5 plus specialty metals products
- As high as 40% titanium oxide, 0.2% vanadium, and 61.5% iron oxide (common mineralization of over 90% combined hemo-ilmenite) in the Massive Ilmenite Zones.
Exploration Activities – Peninsula Property
TDC’s first season of exploration was undertaken in the summer and winter of 2022 and achieved three significant objectives:
- Confirmed the world-class grades reported in historical exploration programs
- Discovered an orebody of approximately 400 million tonnes with unique and potentially ground-breaking mineralization using TDC’s innovative hybrid system of geological and metallurgical assessment
- Identified 2024 drill targets with the goal of defining an initial NI 43-101 resource of 100Mt.
The Company is now moving ahead with additional exploration and sampling this Winter utilizing helicopter support which will be followed by targeted drilling as weather permits, toward defining a Maiden Resource of +100 Mt of titanium, phosphate, iron, vanadium, scandium, and rare earth elements rich material from within a 400 million tonne structure that is open at depth and at strike. In addition, this orebody is hosted within massive ilmenite host rock, which is analogous to what Lac Tio is mining and holds the potential for over a billion tonnes of titanium-iron-scandium-vanadium mineralized material.
The TDC strategy of targeting a diversified critical element orebody is designed to support the green transition, North American onshoring, and industrial development by supplying the critical elements required for this transition. The Company will also support the implementation of the 17 UN Sustainable Development Goals by supplying the lowest carbon footprint products on the market to support the green transition, enhance global food security, and build robust North American supply chains.
During the initial phases of production, TDC’s operation would leverage the unique recrystallized orebody at Peninsula to supply high-quality concentrates to established markets for titanium oxide concentrate, phosphate fertilizer, and high-vanadium iron concentrate. In later stages, TDC plans to utilize its proprietary technology to produce 3D printing titanium powder, high-purity phosphoric acid, purified rare earth elements, high-vanadium virgin iron units, and concentrated scandium.
The Company is undertaking it’s third round of metallurgical and geological programs across several targets in anticipation of receiving drill permits in Q1 2024 which will allow for a first phase of core drilling at the Uffen Zone followed by the commencement of environmental permitting work. Management believes that there is ample evidence of sizeable tonnages of potentially commercially viable minerals to justify proceeding to resource drilling in H1 2024 and a Preliminary Economic Assessment (PEA) in H2 2024 in order to make a development decision or attract an industry partner for disposition.
Upcoming Generative Activities:
- Accelerate go-public offering in Q1 2024
- Continue to define up to a 400 Mt plus resource at Uffen Zone, within the Peninsula Property through geological and metallurgical analysis as well as, identify additional drilling targets
- Preliminary Economic Assessment in H2 2024 followed by environmental permitting
- Conduct testing of proprietary technology to produce 3D printing titanium powder, high-purity phosphoric acid, purified REEs, high vanadium virgin-iron elements and concentrated vanadium.
Titan’s Competitive Advantage
TDC is emerging as a game-changer, poised to take-helm as the largest producer of high-grade titanium and phosphate in North America. This strategic positioning inherently designates TDC as the primary supplier to the North American market, aligning seamlessly with global Critical Mineral Strategy. It is a visionary move that not only secures TDC’s ascent to prominence but also establishes a vital link in the allied supply chain. Crucially, the differentiating factor lies in the quality of TDC’s phosphate production. While phosphates from the US and other regions grapple with contamination from radioactive impurities, Titan’s phosphate remains “clean”, significantly decreasing production costs. As the global demand for Titanium and clean, high-quality Phosphates intensifies, TDC stands at the forefront, ready to redefine industry standards. The trajectory of TDC’s rise underscores not just market dominance but a commitment to excellence, environmental responsibility, and securing a reliable source for agricultural needs. In the realm of phosphates, TDC emerges as the beacon of innovation, setting a new standard for purity and reliability in a critical sector.
Non-Broker Private Placement
Titan Discovery Corp. is completing a non-brokered private placement of up to 12,000,000 Units at a price of CDN$0.30 per Unit for gross proceeds of CDN$3,600,000. Each Unit is comprised of one Common share and one whole non-transferable Warrant. Each whole Warrant exercisable to acquire one Common share at an exercise price of CDN$0.45 per share for a period of 24 months from the date of issuance, subject to an acceleration right. If you, or any colleagues (accredited investors), are interested participating in this round please click the link HERE.
Thank you for your continued support. We look forward to providing regular updates as we advance our business development endeavours.
Titan Discovery Corp.
Cautionary Statement Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
James Turner, B.Sc., P.Geo. (BC) a “Qualified Person” under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
About Titan Discovery Corporation
Titan Discovery Corp. (“TDC”) is a privately held mineral resource company that has secured a high-value resource project (The Peninsula Project) in Quebec, Canada, which comprises of a series of very large titanium, scandium, vanadium, and phosphate deposits. The Project contains both a substantial historical resource and an exploration potential that can create one of the largest hard rock titanium-phosphate resources in the world. The Company looks to quickly increase project value; through metallurgical testing of samples to be obtained, initially from three outcropping priority targets. In addition, TDC will undertake already targeted geological work programs comprising geophysical trenching and drilling programs, which upon conclusion, is expected to provide valuable guidance and justification for further capital deployment and strategic application of value enhancing geological work.