Taiton Resources (ASX:T88) has announced the completion of its maiden drilling campaign at the Merino Prospect within the Highway Project, situated in the Gawler Craton of South Australia, which comprised of 3,062 metres drilled across 22 RC holes testing for molybdenum and base metal anomalism.
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.
The Drilling Program
Taiton Resources’ Highway Project encompasses 2,930 square kilometres of land. The initial focus of the exploration at the Project was where magmatic- hydrothermal mineralisation has been identified at shallow depth, which the Company interprets to have formed at the same time as the world-class Olympic Dam deposit.
Taiton resources was given the green light for the 3000 metres RC drilling program in August, and planned to approach vast scale and depth of mineralisation of the Merino Prospect systematically with initial exploration activities taking place over July this year, reporting geochemical anomalism and alteration signatures which support the presence of a magmatic-hydrothermal system, driven by an interpreted intrusion.
Following these promising indications, the Company commenced drilling at the Highway Project earlier this month, reporting positive sample recovery.
Most of the 22 holes in the program reached planned depth, with all samples consisting of a combination of one metre original splits and four metre composites being dispatched to the laboratory in Adelaide.
The Company expects the initial assay results in approximately five weeks.
Taiton’s Comments on the Campaign
The Company’s Executive Director Noel Ong said the completion of the drilling program has given Taiton clear visibility on the Merino prospect.
“We now have a better understanding of the mineral system and where prime mineralisation may be located,” he said.
“The exploration team will now look at the data and await assay results. In the meantime, the team will look at the learnings of this drilling program and apply them to the regional prospectively of the Highway Project.”
Further information regarding the announcement can be found online Taiton’s investor hub.
T88’s Australian Stock Exchange-listed share price is currently trading at 17.5 cents (11am UTC+ 8 hours).