FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Taiton Kick-Off Soil Sampling at Highway

14 July 2023 12:13
ASX: T88
T88 Soil

Taiton Resources continues working to uncover the true potential of its flagship Highway Project in South Australia’s renowned Gawler Canton region, with an extensive ultrafine soil sampling program now underway.

The Journey Begins

The survey will be completed over a 5km by 5km area with the objective of giving the Company a more in-depth understanding of the Highway Project, with the survey targeting a potential intrusion uncovered in a recent Induced Polarisation survey which the Company believes drives a hydrothermal mineral system.

null

Figure 1: Proposed UF soil sampling area (red box) covering the interpreted alteration footprint and intrusion.

The program will begin on a nominal 100-metre by 100-metre grid across the intrusion’s surface expression, targeting its interpreted potassic and phyllic alteration footprint, with the grid then being expanded to 200m by 200m once outside of the surface expression.

While the Company has reason to believe that the Project hosts Climax-type molybdenum porphyry mineralisation, due to the scale of the system Taiton believes it has uncovered, it will be looking at all potential styles of mineralisation in the region, with samples being analysed for the full suite of elements including molybdenum, base metals, and rare earth elements.

Results from this program will give Taiton better insight into the Project’s interpreted system and allow it to identify the most prospective areas within the system to prioritise future drilling programs.

Riding the Highway

With Highway, Taiton Resources believes it has a potentially world-class deposit on its hands, with evidence so far pointing towards the Project hosting Climax-type molybdenum porphyry mineralisation, in reference to the world-class Climax Molybdenum which is regarded as the largest molybdenum deposit in the world, having produced nearly a million tonnes of molybdenum over 100 years.

Potential mineralised zones as large as 3.8km by 2km have already been unveiled at the Project, building on highly-compelling rock chip assays that returned molybdenum and silver grades of 1300 ppm and 27 ppm silver respectively from the Projects Merino Porphyry Prospect.

With the potential of a large discovery just in front of it, the Company said it is an exciting time due to the hard work it has put in to get to this phase of exploration since listing in December.

“The initiation of the UltraFine soil survey is exciting as this is clear sign that the geochemical data collection process is underway. The Company has been looking toward the geochemical collection phase as the first path towards discovery for the Company,” Executive Director Noel Ong said.

“The soil collection will complement the upcoming drilling program as the findings of the soil survey will be able to help the
exploration team in vectoring targets. The Company has always been upfront in our belief that the drilling may possibly open this part of the Gawler Craton as a new mineral province in South Australia.”

T88’s Australian Stock Exchange-listed share price is currently trading at 15.7c (11:20 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This