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Taiton Resources Kicks Off Second Drilling Program at Highway Project

6 November 2023 09:58
ASX: T88

Taiton Resources (ASX:T88) have commenced its second drilling program at its flagship Highway Project, located in the Gawler Craton, following the approval of the updated Environment Protection and Rehabilitation (EPEPR) from the Department of Mines and Energy in South Australia.

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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 dots represent mines with IOCG deposits.

The Second Drilling Program

The aim of this drill program is to test the Ultrafine soil anomaly conducted prior to the maiden drilling in July, encompassing a 2.5 kilometre molybdenum target which Taiton believes indicates a fertile mineral system within the Merino Prospect. The Company has encountered no issues with drilling conditions to date.

The initial Merino Prospect campaign involved drilling 3,062 metres across 22 RC holes to investigate molybdenum and base metal anomalies. Building on the success of this initial effort, the Company sought additional drilling to further refine the results by focusing on the two primary molybdenum anomaly zones.

Upon the completion of drilling and the collection of samples, Taition reports that the samples will be sent to laboratories in batches for thorough analysis.

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Figure 2: Location of planned new drilling collars at the Merino prospect. The new drill holes will target the two main areas of Molybdenum anomalism

Company Comment

Taiton Resources Executive Director Noel Ong commented on the second drilling campaign.

“The second drilling program will help Taiton test what is a very compelling soil anomaly,” he said.

“The search for a Molybdenum deposit continues at Highway and we are now working through the datasets to understand the mineralising system at Highway.”

“As we drill this program, our team has been looking at the regional aspect of what else is on the table for Taiton.”

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 $0.17 (9.45am UTC+ 8 hours).

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