About Us


Titan Mining Corporation's primary asset is Empire State Mine - a near-production, fully permitted zinc mine, for which it has completed a preliminary economic assessment (PEA). The Empire State Mine is located near the town of Gouverneur in northern New York State.

Over more than 100 years of operating history, the Empire State Mine has produced an aggregate 43 million milled tons at an average mill head grade of 9.4% zinc (equivalent to approximately four million tons of zinc metal). The Empire State Mine has current Measured and Indicated Mineral Resources of 2,158,000 tons with an average grade of 13.29% zinc containing approximately 574 million pounds of zinc metal and Inferred Mineral Resources of 2,276,000 tons with an average grade of 13.37% zinc containing approximately 609 million pounds of zinc metal. Once in production, based on the PEA, the Empire State Mine is projected to have a LOM average mill feed grade of 9.2% zinc based on the Mineral Resources set out in the Technical Report.

A two month refurbishment period will take place upon completion of the Initial Public Offering. The Company anticipates recommencing zinc production approximately five months following completion of the Offering. Estimated pre-production capital cost per the Technical Report of $10.7 million is modest compared to forecast after-tax cash flow of $210.7 million (zinc price assumption of $1.25/lb in year one of operations; $1.45/lb in year two of operations; $1.40/lb in year three of operations; $1.35/lb in year four of operations; $1.20/lb in year five of operations; and $1.05/lb in years six through eight of operations).

The Empire State Mine is positioned to generate significant margins over its expected mine life, with a LOM average C1 Cost of $0.69 per pound of payable zinc, which is substantially below the LME spot zinc price of approximately $1.52 per pound as at October 10, 2017. Based on the information contained in the Technical Report, the Company believes that the Empire State Mine will have a LOM average AISC of $0.78 per pound of payable zinc.

The Company has a three-phase strategy to maximize the value of its property holdings. Phase one is to recommence operations at the Empire State Mine on the Mineral Resources outlined in the Technical Report, which the Company believes will eventually reach a rate of 1,800 tons per day (t/d) as described in the PEA, while exploring the extensions of mineralized zones to extend the mine life. Phase one starts with a two-month refurbishment and rehabilitation period. Following completion of this period, the Company plans to systematically ramp-up production in order to achieve 800 t/d six months after project start, 1,200 t/d nine months after project start, and full production of 1,800 t/d 13 months after project start.

The Company's medium-term objective, or phase two of its three-phase strategy, is to evaluate potential exploration targets consisting of the historical probable and proven ores and remnants at the Empire State Mine that may, if economic, extend the life of the Empire State Mine, add to Minerals Resources and take advantage of spare capacity in its 5,000 t/d nameplate capacity processing facility. Remnants are structural pillars left behind from when the Empire State Mine was previously in operation. These historic probable and proven ores and remnants were not previously extracted due to the low price of metals at the time or because the mining methods and technologies that permit their extraction did not yet exist.

The Company's long-term objective, or phase three of its three phase strategy, is to identify and evaluate potential exploration targets at the Empire State Mine (such as from satellite deposits as was done in the past at the former Pierrepont, Edwards, and Hyatt Mines) that may, if economic, extend the life of the Empire State Mine and take advantage of spare capacity in its 5,000 t/d nameplate capacity processing facility. As part of phase three, the Company intends to commence a regional exploration program to compile, digitalize and model historical data from the Empire State Mine in order to attempt to identify new potential high value exploration targets.

Existing high priority exploration targets include the Sully area and the Gap Zone. Results of a VTEM (versatile time domain electromagnetic) survey completed in 2008 will be used to identify exploration targets outside the immediate area of the Empire State Mine. Three targets already identified include North Gouverneur, Moss Ridge SW, and Colton. The Company holds interests in approximately 81,000 acres of mineral interests surrounding the Empire State Mine.

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