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Taiton emerging for Australia’s next mineral elephant

15 October 2022 07:46
ASX: T88

Taiton Resources have launched its initial public offering for up to ten million dollars and are on the road to the ASX — and to the potential discovery of a new mineral province.

At its flagship Highway project, the hard work of identifying a mineral system is already done and the energetic company is confident that its geological territory, nestled between major South Australian mineral provinces, has been fundamentally misunderstood.

Target evaluation of Merino has spotted the potential to tap into source rocks of the famed Olympic Dam IOCG belt, home to the billion-dollar Olympic Dam mine, while noting overlooked potential for large-scale molybdenum-enriched polymetallic porphyry discoveries.

“It is like when Gold Road was working at the Yarmana Greenstone Belt, everyone said that the rocks are too young and there will be no gold mineralisation,” chief executive Noel Ong said.

“Now, Gold Road is near to 10M ounces of gold, Tropicana and Nova Bollinger in the Fraser Range is another example, Julimar another, nobody thought that you would find all the mineralisation 70km NE of Perth, that is wheatbelt country!”

With a very shallow cover to its basement and gravity anomalies within, Ong says Highway offers cost effective exploration — a big one if on the hunt for porphyries and IOCG deposits

“The Merino prospect has a zircon taken at 7m, so we know from historical drilling we have very shallow basement, the holes indicate the cover is only up to 20m, most lies less than 20m,” he said.

 

Merino TMI Assays 1

Assays of the Merino prospect.

 

Taiton’s data is backed up by CSIRO’s own hydrogeochemical bore analysis, suggesting the presence of hydrothermal systems at shallow depth and more areas of potential mineralisation in the region.

And there are more strings to the explorer’s bow, with Lake Barlee and Challenger West projects joining the exploration prowl for large scale discoveries of future proof commodities — Australia’s next great metal elephants.

Applications for the IPO close on the 21st of October, with proceeds earmarked to keep up rigorous exploration.

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