Taiton cleared to start second drill program over molybdenum anomaly at district scale Highway project, maiden assays ‘imminent’

• Taiton secures approval from South Australia for second drill program at Merino
• Drilling will test coherent molybdenum anomaly identified by UltraFine soil sampling
• Assays pending for maiden drill program could point the way for further exploration

Taiton has the green light from South Australia’s Department of Mines and Energy to drill a significant molybdenum anomaly at Merino, part of its district scale Highway project in South Australia.

Recently listed explorer Taiton is looking for massive deposits at the underexplored 2,930km2 Highway project, which hosts shallow magmatic hydrothermal mineralisation interpreted to have formed at the same time as the world-class Olympic Dam deposit.

Olympic Dam is one of the one of the world’s largest iron-oxide-copper-gold (IOCG) deposits and the fourth largest copper deposit globally.

Taiton Resources (ASX:T88) recently completed a 22-hole drill program totalling 3,062m at Merino to identify potential mineralisation and get a handle on the geological setting.

Taiton is awaiting assay results from the maiden drilling program completed in September and anticipates they are very “close to being received”.

Meanwhile, additional UltraFine soil sampling was carried out over a 4.5km by 4km area at Merino to identify induced polarisation anomalism and target more prospective spots for drilling.

The soil sampling identified a coherent molybdenum anomaly north and east of the company’s maiden drill program as well as anomalous base and precious metals, which executive director Noel Ong said previously was indicative of a big “mineralising event”.

Molybdenum is primarily used as an additive in alloy steels to improve strength, toughness, and weldability for a range of applications in manufacturing processes such as carmaking, shipbuilding, construction, as well as mining, chemical, oil & gas and energy industries.

Second drill program locked in

Approval has now been received for a second drill program which allows the company to drill up to 20 additional locations to test the result of the ultrafine soil survey — namely the coherent molybdenum anomaly that has piqued Taiton’s interest.

Selected drill targets are also supported by associated base metal anomalism coincident with molybdenum whilst the company is advanced in finalising the process of organising drill contractors and the preparation of drill pads.

“Our exploration activities are now gathering pace as we vector into what could be a discovery moment for the company,” exec director Noel Ong says.

“The culmination of all the hard work over the last 9 months is now an important part of our journey to uncover a potential fertile hidden mineral system at our Highway Project.

“We are very appreciative of the pace at which our EPEPR has been approved by the South Australian Mines Department. This has allowed Taiton to initiate this phase of our exploration prior to the end of 2023.

“We are also anticipating the return of our drilling assays in the coming weeks which may potentially open new areas for the company while we have the drill crew on site.”

This means if the assays identify mineralisation, Taiton have approved drill sites within the last drill program “to consolidate the story”.

This article was developed in collaboration with Taiton Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Taiton cleared to start second drill program over molybdenum anomaly at district scale Highway project, maiden assays ‘imminent’ appeared first on Stockhead.

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