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Taiton Resources Confirms Fertile Mineralised Hydrothermal System at Merino

4 May 2023 12:25
ASX: T88

Taiton Resources Limited (ASX: T88) has provided an exciting update on its progress at the Highway Project, announcing that its Induced Polarisation (IP) geophysical survey has confirmed the presence of the Magmatic Hydrothermal Mineral System.

Priority mineralisation targets at Merino

Completed over the Merino prospect, the survey identified potential mineralised zones as large as 3.8km by 2km, driven by an intrusive body with associated alteration haloes for both phyllic and potassic alteration.

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Figure 1: Location of the Highway Project, South Australia.

The Company has used the acquired IP data, along with existing geological and geochemical datasets, to identify multiple potential mineralisation targets. Priority targets have been found to coincide with historical drilling in vectoring three clear priority targets.

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Figure 2: Priority target areas that have been interpreted from the completed IP Survey primarily using chargeability response. The priority targets are coincidental with historical drilling with anomalous molybdenum and pathfinder elements. The interpreted intrusive body is up to 3.8km long and over 1km wide.

In addition, the IP survey results may have delineated zones of potentially phyllic alteration, as the Company’s field team has observed rock textures indicating at least two phases of mineralisation. The historical drilling at MOAR 30 has also been found to lie within a clear zone of overlapping chargeable alteration halo and a resistive source, indicating high potential for Taiton’s maiden drilling program.

The IP survey results support Taiton’s target model that the Merino prospect may contain substantial molybdenum mineralisation, with geological observations and results resembling those of the Climax-type molybdenum porphyry system. The survey also detected a resistive body that may represent the upper limits of an intrusion associated with the Hiltaba Suite granites, with the body deepening from the north to the south.

Taiton submits drilling plans and initiates soil sampling program

Taiton has submitted its drilling plans to the South Australian Department of Energy and Mining and is now focusing on commencing a trial ultrafine soil sampling program over Merino to provide time and cost-effective prospect scale targeting.

Taiton Managing Director Noel Ong expressed that the Company’s exploration efforts have taken a significant step forward with the confirmation provided by the IP survey and historical drilling, giving them clear guidance on where to conduct their maiden drilling program at Merino.

“Our narrative since from the start of our journey was to Identify the presence of a Fertile Mineralised Hydrothermal System. We believe that at this stage we have proven this to be the case.”

T88’s Australian Stock Exchange-listed share price is currently trading at 21c (11:40 am UTC+ 8 hours).

Further information regarding the announcement can be found online Taiton’s investor hub.

 

 

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