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Taiton Resources stand poised on a giant potential mineral system

19 December 2022 11:45
ASX: T88

In an industry where excitement can be a hollow word, Noel Ong’s is palpable when it comes to the Highway Project.

Taiton Resources is on the ASX, and as it was turning the corner towards listing, the more its managing director looked at a flagship nestled between eminent South Australian mineral provinces and thought:

“We have stumbled in on this area and hold a blank canvas.”

Lying between the Olympic Dam and Challenger mines, the hard work of identifying a mineral system at Highway is already done.

 

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First mover advantage by Taiton Resources Limited has given the company a dominant position in what could be a new IOCG and Porphyry mineral province.

Molybdenum is a funny thing, effectively the pathfinder to porphyry, and Highway has it in high numbers but without the resource – we do not know what Taiton is sitting on, but Ong has the evidence and the belief he is sitting on a veritable hotpot of minerals.

“What is the passion that drives Highway? That’s it, everything is there and the fact that they’re all together in the same bed means there must be a lot going on. It’s a mineral system that everyone has missed.”

 

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The Merino prospect which has historical drilling results indicating a mineralised basement. Recent geophysical interpretations by Taiton have highlighted another potential porphyry (Angus) and a Skarn prospect (Brahman).

 

Nobody thought that there would be a Julimar 70 kilometres northeast of Perth, and Ong sees a discovery emerging that would redraw boundaries.

“The underlying thing about the whole area, it is really about porphyry than IOCG in terms of prospectivity,” he explains.

“People have come through looking for IOCG, but nobody thought about looking for porphyry and geologists, we look at maps and go ‘that is this rock type, prospective for this’ and we go there.

 

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The highway project (Red Zone) is now proven to be of the same age as the Olympic IOCG Belt. Zircon age dating has proven that the basement within the Highway project is potentially tapping the highly mineralised Olympic IOCG Belt.

“When you do not have a lot of outcropping rocks, you can see what’s underneath. The area was believed to be about 150 million years older than what we can say it is today, because we have done the work.”

Where one explorer strikes success, others will follow and in neighbouring areas everyone is searching for the next Olympic Dam, but under cover as deep as half a kilometre.

Taiton landed a lot of free data from the Mines Department, and processing showed territory prospective for porphyry and IOCD – under cover between 5 to 20 metres deep, with most drillholes showing depth less than ten metres.

“We looked at his data and went ‘yeah this makes sense!’ the only thing we need to do is show it’s of the same age group as the Olympic Dam stuff,” Ong says.

“We did, it came up showing the same date range, the critical part is we are tapping the same rock source, we are not saying we have another Olympic Dam, but we have the same probability as someone drilling over there.”

For a lot cheaper.

“We are chasing IOCG and porphyry targets that are very shallow, drilling will cost us a hell of a lot less, the Merino prospect is where we started this journey from and that is only five to ten metres deep,” Ong explains.

“I could drill this system for next to nothing, once you hit basement you can test for everything you want, the other guys need to drill 500m to get there.

“Every 15 metres I can put a hole, and it will still cost me less than that one drillhole to test a geophysical target in there, so my return on investment is extremely high.”

Ong says it is not simple to explain geological passion to the public without the word lithium, but if Taiton finds a nice big copper deposit, he would not be complaining.

And with a dominant 2900 square kilometre position, if anyone else wants to deal with the area, they have to come talk to him first.

Data from CSIRO backs up that something big is brewing in Taiton territory – a hydrogeochemical survey for anomalous ratios showed that in areas of most interest, where all the water and metals mix around, one of the prime spots was right in the middle of Highway.

 

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Residual gravity and contours of Depth to basement over the highway project. The blue line is area of interest of high levels of hydrothermal activity as highlighted by the CSIRO study. Take note of the numerous residual gravity anomalies that are IOCG and Porphyry targets.

“Going next to historical drilling, they got all this molly, good intercepts with lead, zinc, fluoride, and if you remember your chemistry, they have different melting points and if they are in the same space means a lot of mixing.

“They have basically been bastardised, and geophysics are pointing to the same thing, what we have discovered a cooking pot that we do not know what is cooking, potential for uranium, copper, lead, zinc, we don’t actually know!”

 

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World distribution of Porphyry deposits. Porphyry Cu and porphyry Mo deposits are large to giant deposits ranging up to 1.6 Gt. Of ore. (Source: Taylor R.D. and John, D.A. 2016, By-products of porphyry copper and molybdenum deposits: Chapter 7)

Command of geology has obvious benefits for an exploration company but taking off the boots and moving into media has provided less obvious advantages for Ong’s place at the helm of Taiton.

His Samso media platform is seen across the industry, with content providing both a story and tangible business insights from leaders in resources.

“Understanding media is very important in this game, understanding how it works, especially more today,” he says

“In the old days companies just plonked a website down and told people to go have a look, now we understand it is hugely important, giving informing content and a process to get the content to who you want to know about you.

“I take a lot of value from the fact that I started Samso from nothing and people see it everywhere now, I translate that to clients and Taiton now to get that engagement, we are a content hungry species. It is about getting yourself out there and is important for companies out there.”

Taiton’s story is just beginning, and now Ong can start to get a taste of what is cooking at Highway.

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