Wed Sep 18 03:36:29 UTC 2024: ## Hancock Prospecting Invests US$120 Million in Ecuadorian Copper Project

**Perth, Australia** – Titan Minerals has secured a US$120 million (AU$180 million) investment from Hanrine Ecuadorian Exploration, a subsidiary of Western Australian mining giant Hancock Prospecting. This deal grants Hanrine the right to earn up to 80% ownership of Titan’s Linderos copper project in Ecuador.

The agreement signifies a major commitment to the project, with a substantial exploration program already underway. Hanrine will immediately commence a 10,000m drilling campaign, highlighting their confidence in Linderos’ potential as a world-class copper deposit.

The earn-in agreement will see Hanrine gradually increase its stake in Linderos through a series of staged payments and exploration milestones. Initial payments will secure Hanrine a 5% interest, with further investments and drilling commitments allowing them to reach a 51% stake. If the project progresses to the mining stage, Hanrine can then fully exercise its option to acquire 80% of the project within 12 years.

The deal is a significant boost for Titan Minerals, who will benefit from Hanrine’s in-country expertise, financial resources, and technical capabilities. This collaboration aims to unlock the full potential of Linderos, which has already shown promising signs in early drilling results.

The Linderos project spans 143 square kilometers in the Ecuadorian mountains and boasts significant copper porphyry intercepts close to the surface. The potential for a large-scale deposit is further supported by an extensive alteration system identified through geophysical surveys.

The agreement highlights the growing interest in Ecuador’s mineral-rich landscape, with the government actively encouraging investment in the sector. Hanrine has further solidified its commitment to Ecuador by securing an additional 28,276 mining hectares through a separate US$120 million investment.

Investors are likely to closely monitor the exploration activities at Linderos, as the project has the potential to become a major contributor to Ecuador’s economy. The partnership between Titan and Hanrine signifies a strong commitment to the project and highlights the growing importance of copper exploration in the region.

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