Titan Minerals' (ASX:TTM) drilling at the Dynasty gold project in Ecuador continues to show strong resource growth and supports a resource update in the first quarter of 2026, according to a Thursday note by Euroz Hartleys.

Results yielded 16.6 meters at 3.8 grams per tonne gold equivalent from 118.3 meters, including 3.1 meters at 4.9 grams per tonne gold equivalent, Euroz said.

The results confirmed high-grade vein-hosted mineralisation and extend newly discovered porphyry-hosted gold-silver-copper zones, Euroz added.

Euroz sees potential for the gold-equivalent resources to grow toward 4 million ounces at the project, with scope for a significantly higher figure if bulk-tonnage porphyry mineralisation extends as expected.

It maintained Titan Minerals' speculative buy rating but raised its price target to AU$1.55 per share from AU$1.40 per share.

Shares of the company rose 10% on close and earlier hit a 52-week high.