Titan Mining Enhances Focus at ESM; Terminates Mineral Ridge Option

Titan Mining Enhances Focus at ESM; Terminates Mineral Ridge Option

VANCOUVER, British Columbia, June 04, 2021 (GLOBE NEWSWIRE) — Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) announces that with stronger than expected zinc prices, lower than planned smelter treatment charges and increasing cash flow from its Empire State Mines (“ESM”) in upstate New York, Titan has decided to focus its efforts at ESM and terminate its option on the Mineral Ridge property owned by Scorpio Gold Corporation located in Esmeralda County, Nevada based on exploration and study results.

Titan undertook an extensive exploration program, (67 holes totaling 46,182 feet of drilling testing the resource expansion potential of eight target areas) and an internal scoping level study. The economic results did not meet Titan’s requirements to advance the project.  

Scott Burkett, Vice President of Exploration commented, “Increasing profitability at ESM coupled with limited exploration success and additional challenges at Mineral Ridge centered around capital and operating cost uncertainty has caused us to re-evaluate our position at Mineral Ridge and enhance our focus on ESM. The project scope and perceived challenges are not a good fit for Titan at this time and we have decided not to pursue Mineral Ridge opportunity further.”

About Titan Mining Corporation

Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine (“ESM”) 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:
Email: info@titanmining.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.