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Taiton Kicks Off Maiden Drilling Program at Highway Project

4 September 2023 10:31
ASX: T88
Feature

Taiton Resources (ASX:T88) has commenced its inaugural drilling campaign at the Highway Project in South Australia, having completed five drill holes without encountering any adverse drilling conditions.

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Figure 1: Location of Taiton South Australian projects. The pink dot represents the location of the Merino prospect and the current location of the drilling program. Green mines are IOCG deposits.

Maiden Drilling Program

The Company is pleased with the progress achieved at the Merino Prospect so far, with positive sample recovery. Samples are scheduled for laboratory analysis this week, and if current conditions persist, the drilling program is expected to conclude within the next three weeks.

Taiton’s Reverse Circulation (RC) drilling initiative at the Marino Prospect represents the Company’s inaugural drilling effort in this location, with initial plans to reach a total meterage of 3,000 metres; however, the flexibility to extend this program is in place, depending on geological findings and capabilities.

The primary objective of this drilling campaign is to address all Priority One targets, which were pinpointed based on historical shallow geochemical anomalies correlated with alteration halos identified from radiometric imagery and a recent IP survey.

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Figure 2: Location of planned drilling collars at the Merino prospect coloured by priority (priority 1 – green and priority 2 – orange).

Taiton resources was given the green light for the 3000 metres RC drilling program in August, and plan to approach vast scale and depth of mineralisation of the Merino Prospect systematically.

The initial exploration activities including the sampling which took place over July this year, found geochemical anomalism and alteration signatures which support the presence of a magmatic-hydrothermal system, driven by an interpreted intrusion.

The drill program designed by Taiton plans to identify potential mineralisation and the type or metal content whilst also confirming the geological setting of the prospect.

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Figure 3: The current Interpreted Intrusion (modelled 1,000 Ωm shell, yellow) with associated areas of potential alteration indicated by chargeability. The drilling will focus on the higher chargeability (Magenta 9 mV/V shell). Other areas identified include Red (5 mV/V shell), layered with historical drilling coloured green > 500 ppm and cyan 100 – 500 ppm.

Looking to the Future

The maiden RC program will be executed by the seasoned Kennedy Drilling, a company with a rich history dating back to its establishment in Kalgoorlie in 1982.

The Company is eagerly anticipating the outcome of the drilling campaign at its flagship Highway Project, as it seeks to substantiate its unwavering confidence in the Project’s profitability.

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

Noel Ong, Executive Director of Taiton Resources, expressed the team’s high level of excitement as they embark on this drilling program.

“Our exploration work prior to this drilling stage has shown strong evidence that our original theory of uncovering a large undiscovered fertile mineral system is valid,” he said.

“What is most important, is that the exploration team has ticked all the boxes that is required to support our strong faith in making a discovery. The work has shown without question that there is a mineral system at Merino. The start of the drilling will begin the process of putting the discovery pieces together.”

“Today, the drilling activities will allow our exploration team to see for the first time what lies underneath the Merino prospect. The drilling is the culmination of all the hard work over the months since our acceptance on to the ASX. We have experienced delays, but the credit goes to the entire team to persevere and achieve this stage.”

T88’s Australian Stock Exchange-listed share price has risen 5.55% and is currently trading at 19 cents (10.30am UTC+ 8 hours).

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