TITAN OVERVIEW

Location and Ownership

The Titan project is located in eastern Ontario approximately 120 km east-northeast of Sudbury, straddling the boundary between Angus and Flett Townships, with access to excellent infrastructure.  Transportation access to Titan includes the main line of the Ontario Northland Railway, which crosses the property; the mineralized area is about five miles northeast of Bushnell, a flag station on the railroad. Highway 11, a main provincial highway which links northern and southern Ontario, is 18 km west of Titan. There is a large work force available in the area and the property is close to major North American markets for iron and titanium.

A major high voltage transmission line (about 230-kv) lies one to two miles east of the property and the Northern Ontario Natural Gas pipeline lies 15 miles west of the property.

Titan is located at the extreme northeast end of the Fall Lake intrusive and is delineated by very high magnetic susceptibility. The airborne magnetic signature shows a sub-circular surface expression that is 1,200 by 800 metres in area. The mineralization is known to be located in the northern portion of the magnetic anomaly, and it has a steep plunge towards the south-southeast.


Magnetic Map of Titan
Click to enlarge

The Titan property consists of 1,052 contiguous hectares (2,600 acres) comprising 17 patented claims and 3 mining claims.

Geology and Mineralization

The Titan mineralization is formed by the hydrothermal replacement of mafic to ultramafic rock complex that is a younger part of the Grenville Metamorphic Terrain. The host rock is a fine-grained olivine gabbro, with possible troctolitic overtones. Magnetite, ilmenite and a vanadium mineral make up most of the economic minerals that are present in the mineralized system. There is also the potential for the occurrence of platinum group metals along the margins of the mafic and ultramafic intrusives in Angus Township and adjacent Flett Township. At Titan, slightly anomalous values for platinum, palladium and gold have been returned in assays.

Exploration Findings

  • The magnetite-ilmenite mineralization is present as a body that plunges steeply towards the southeast. Its character south of 5190100N is little known due to relatively widespread wet ground. Relatively strong magnetism extends southeasterly.
  • Titanium and Vanadium are present in the intrusive complex away from the areas of pronounced magnetite content although in lower amounts.
  • Susceptibility and assay data generally correlate directly.
  • At present the mineralization is open, in part, towards the east, towards the west, the south and to depth.

Magnetite, ilmenite, titanium dioxide, and vanadium mineralization at Titan occurs in a southeast plunging body in gabbro to leucotroctolite in the northeastern corner of the Fall Lake complex.  The Titan deposit is located at the northern end of an aeromagnetic anomaly that is approximately1,200 by 800 meters in area.

A total of 4,898 assay intervals are recorded from 38 core holes drilled by Randsburg on the property.  Drilling highlights reported by Randsburg included 142 meters of 0.27% Vanadium (0.48% Vanadium Pentoxide) from hole RA-5-21 and 174 meters of 0.26% Vanadium (0.46% Vanadium Pentoxide) from hole RA-5-10. The mineralization started from surface to an open vertical depth of 500 meters. The complete horizontal and vertical extent of the deposit is still to be determined.  Information on the geology at Titan and assay results reported by Randsburg are available below.

An updated Technical Report dated February 26, 2010 prepared by Mines Development Associates for Randsburg calculated a National Instrument 43-101 compliant Inferred resource for the Titan project.  This Technical Report can be accessed here.

History

The Titan project is located in Angus and Flett townships, Ontario, approximately 120 km east-northeast of Sudbury, Ontario, and approximately 50 km north of the city of North Bay. The Titan iron-titanium-vanadium occurrence on the property has also been referred to in the literature as the O'Connor occurrence.

Titaniferous magnetite mineralization associated with the mafic and ultramafic rocks of this part of Ontario was identified as early as the 1890s and mapped in the 1930s. Hurst (1932) mapped and described what is now the Titan magnetite occurrence but was then called the O'Connor occurrence, noting that the deposit had not been developed because of a lack of demand for iron ore containing titanium. From the 1930s through the early 1970s, there was exploration in the region seeking iron and titanium.

Exploration activity specifically directed at what is now the Titan property dates from 1942 when Titan Iron Mines Limited ("Titan Iron") conducted trenching, surface pitting, and sampling. However, at that time the presence of titanium was a detriment to the potential value of the iron mineralization. In 1947 Titan Iron refurbished and extended the old trenches and drilled 11 diamond drill core holes. In 1948 120 samples collected from the trenches were analyzed for titanium and iron by the Ontario Department of Mines and Swastika Laboratories. By 1953 Titan Iron had ceased exploration on the property, although tax payments were made to maintain the property in good standing. In that same year, samples were submitted to the Cranmet Corporation in Chicago for analysis with the conclusion that the ore is mainly a mixture of magnetite and ilmenite with only about 5% as spinel-type intergrowths of magnetite and ilmenite, which seemed favorable for separation (Bayne, 1967b).

The property was sampled by Watts, Griffiths and McOuat Ltd. for Southfield Mines Limited in 1964 (Docherty and Germundson, 2006; Bayne, 1967b). In 1966, Lockwood Survey Corporation Ltd. ("Lockwood") flew an airborne magnetic survey over the area for Titan Iron. A. S. Bayne prepared a report in 1967 to use in seeking capital to develop the Titan property. Lake Ontario Steel Company Ltd. optioned the property from Titan Iron in July, 1968, and conducted a ground magnetic survey (Mead, 1969).

Between 1973 and 1996, Flett and northwestern Angus townships were among a number of townships withdrawn from mineral staking and exploration activities due to the Temagami Land Caution. However, according to Easton (2002), Candol Developments Ltd. undertook a bulk sampling program that included the O'Connor magnetite occurrence (now Titan) in 1988; no results were available to MDA.