SOURCE: Titan Resources International Inc.

March 06, 2007 08:30 ET

TITAN Update on Recent Acquisition of Prolific Past Producer

TORONTO -- (MARKET WIRE) -- March 6, 2007 -- Titan Resources International Inc. (PINKSHEETS: TNRI) provides the following information on the history, geology, and planned development, of its most recent acquisition, the Silver Centre Resources Inc. property.


The original discovery leading to the Keeley Mine was made in 1907 on the original Keeley claim. The Keeley Mine of Keeley Silver Mines Ltd., produced intermittently from 1908 to 1942 with most of the production taking place between 1921 and 1931.

Total reported production from the Keeley Mine was 12,154,353 ounces of silver and 1,617,684 pounds of cobalt.

The Frontier Mine was operated by Mining Corporation of Canada Ltd., from 1921 to 1943 and produced 6,695,415 ounces of silver, 1,683,769 pounds of cobalt and 11,158 pounds of nickel.

In 1962, Keeley Frontier mines Ltd., dewatered and rehabilitated the Keeley and Frontier Mines. From 1963 to 1965 an additional 347,645 ounces of silver and 9,003 pounds of cobalt were produced.

Total production from both mines was 19,197,413 ounces silver and 3,310,556 pounds cobalt which represents 82% of the silver and 95% of the cobalt produced from the South Lorrain district. The combined average recovered grades were 57.8 ounces of silver per ton and 0.5% cobalt.


The property is chiefly underlain by folded and metamorphosed early Precambrian volcanic rocks which are intruded by an 800-1,000 foot thick sheet like "sill" of Nipissing diabase. The diabase in this area is interpreted to form a domal structure and all the productive veins occur on the northwest side of this dome.

The property is situated on the northwest side of a dome structure and the diabase dips to the west at 20 to 30°. On a regional basis the diabase exerts a very strong spatial association with silver-cobalt vein deposits.

The economic vein type mineralization is generally located near the intersection of faults in the archean metavolcanic rocks, within 400 feet of the underlying Nipissing Diabase "sill."

In South Lorrain, the most productive veins occur on the northwest flank of the South Lorrain diabase dome, and comprise both north-south and east-west vein systems. The most productive parts of the veins occur within 400 feet of the upper and lower contact of the diabase sill, with the richest veins being those that continued into the diabase.

Within this favorable area along and above the upper contact, the most important factors controlling development are:

1. The intersection of two or more veins;
2. The intersection of veins with unmineralized faults or with flat faults;
3. A flexure or "roll" in a vein caused by an abrupt change
    in strike and/or dip; and
4. The intensity of fracturing in the vicinity of faults.
Factors 1 and 2 are most useful for regional exploration. Once a vein structure has been located, however, the latter two criteria are more important.

Ore shoots tend to be controlled by a marked variation in attitudes ("rolls") in fault vein structures and to a limited extent by hornblende lamprophyre dikes, which appear to locally control ore deposition.

Priority would be given to testing anomalies exhibiting the following coincident features:

1. Within 400 feet of Nipissing diabase sill (upper and lower contact).
2. Anomalous indication of deep seated north-south fault or mapped
    north-south fault.
3. Anomalous indication of east-west oriented fault or mapped east-west
    fault convergent with north-south fault.
4. Indication of basinal flexure in diabase at top of sill or domal flexure
    at bottom of sill.
5. Anomalous indication of disseminate sulphides in Keewatin metavolcanics.
6. Break from magnetic high to magnetic low in Keewatin metavolcanic
Within the property four major north-south fault structures have been identified by surface and underground exploration, on the western extension of the property. These four structures, from east to west, are as follows:
1. The Beaver Lake Fault East Branch;
2. The Beaver Lake Fault West Branch;
3. The Keeley Extension Fault Zone; and
4. The Hammerstrom Fault.
The two Beaver Lake faults and the Keeley Extension Fault Zone occur on the western portion of the claims currently held by Silver Centre Resources. The Hammerstrom Fault occurs further to the west on the adjacent property; however, the down-dip extension of this structure may be on the SCR property. In addition, two previously productive east-west trending veins, No.16 and No. 28, intersect the Beaver Lake Fault system, and based on surface mapping probably intersect the other two structures further west.

Mine sites and areas within the direct proximity of mine sites provide excellent geological environments for additional reserves and new discoveries of ore bodies. Exploring near mines can be expensive if by drilling alone. The time required to thoroughly investigate prospective areas proximal to the mine through traditional means can be prohibitive and the return on exploration expenditure relatively low.

TITAN will begin exploration and development of the property, on the western extension, by first confirming the results of the existing IP survey completed in 1996. The original IP survey indicated several high potential "target" areas to test for high grade silver.

The first phase of exploration will utilize state-of-the-art geophysical survey techniques to test known target areas. The primary objective of the survey is to provide deep resitivity and chargeability information for deeper drill targeting (400-1500 metres) within the favorable geological environment for hosting silver and cobalt bearing veins. Typically these veins are found in proximity to the diabase contact, which dips down to the west. Upon completion of the survey, a drill program will be implemented to test targets to depth.

The Keeley and Frontier tailings ponds hold some potential as developmental rock from past mining activity still remains on the property, near the old mine sites. Recovery techniques have improved considerably from when the mine last operated in 1965, increasing potential recovery. The company will start an assessment project of the tailings and development rock piles. Systematic test work and bulk sampling of the tailings and development rock piles is planned as a possible immediate cash flow opportunity in the development of the TITAN/SCR property.

TITAN Resources International will endeavor to provide in a timely manner, updates on the progress of the various sampling, testing, mapping and surveying completed for the development of the TITAN/SCR property.

TITAN Resources International Inc., is a junior resource and exploration company dedicated to the acquisition, exploration and development of small- to medium-size precious metals properties of significant merit, in both Canada and South America.

Silver Centre Resources Inc., is a private resource exploration company with properties located in Ontario, Canada.

This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein.

Contact Information

  • Contact:

    Jeff Hunter
    TITAN Resources International Inc.
    (866) 905 0418