07:29 AM EST, 12/03/2024 (MT Newswires) -- Titan Mining TI.TO) on Tuesday said it has completed its maiden mineral resource estimate (MRE) for the Kilbourne Graphite Project, in St Lawrence County in New York State.

Highlights include an open-pit constrained inferred mineral resource estimate of 22 million US short tons at an average grade of 2.91% containing 653,000 tons of graphite, based on a cut-off grade of 1.50%.

Titan said the estimate is based on 45 diamond drill holes totaling 29,699 ft completed as Phase I drilling. The Phase I drilling and maiden mineral resource estimate represents a small subset of the total graphite bearing unit identified through surface mapping and historical drilling, it added.

Preparations for an NI 43-101 Preliminary Economic Assessment for the Kilbourne Project will begin early next year.

Titan was unchanged Monday at $0.26.