• Taiton begins second drill program at the Highway project, focusing on the Merino prospect
  • Drilling will test a molybdenum anomaly identified by ultrafine soil sampling
  • Drill samples will be dispatched to the laboratories in batches when collected

 

Special Report: Drill rigs have arrived on site at Taiton Resources’ Highway project to begin a second drill program in search for molybdenum following the identification of an anomaly during an ultrafine soil survey.

Taiton Resources (ASX:T88) 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 in South Australia’s Gawler Craton.

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 ASX T88
Taiton’s South Australian project – the pink dot represents the location of the Merino prospect, and the green dots represent mines with IOCG deposits. Pic via Taiton Resources

 

Various exploration activities have been carried out at the project this year including a 22-hole drill program for 3,062m at the Merino prospect to identify potential mineralisation.

This was then followed up with an ultrafine soil sampling program over a 4.5km by 4km area to identify polarisation anomalism and outline prospective areas 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”.

 

Second drill program kicks off

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.

 

Taiton ASX T88
Location of planned new drilling collars at the Merino prospect, which will target the two main areas of molybdenum anomalism. Pic via Taiton Resources

 

The aim of the program is to test the ultrafine soil anomaly (as shown in the image above) to the north and east of the completed drilling program carried out in September.

“This second drill program will help Taiton test what is a very compelling soil anomaly,” T88 executive director Noel Ong says.

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

Drill samples will be dispatched to the laboratories in batches when collected.

 

 

 

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.

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