Taiton IP survey gives clear sight on where to drill at Merino

Taiton’s proposed geological model of a magmatic hydrothermal mineral system at its Highway project in South Australia has been backed by data from an induced polarisation survey.

The survey over the Merino prospect identified an intrusive body (potentially porphyry in nature) with associated alteration halos for both phyllic (chargeable response) and potassic (radiometric response) alteration.

This is believed to drive the hydrothermal mineralised system which stretches out over a 3.8km by 2km area.

Taiton Resources (ASX:T88) notes that the identified conductive zones are coincident with historical anomalous molybdenum and base metal drill assays indicating potential for mineralisation.

This also provides clarity on the target mineralised zones while drill plans have been submitted to the South Australian Department of Energy and Mining.

Managing director Noel Ong says the results are a significant step in the company’s exploration to vector maiden drilling program at Merino.

Expanding exploration

“The IP survey in conjunction with historical drilling has given us clear sight on where we should have our drill traverse,” he added.

“The results have also given us the confidence to add layers to the process of discovery.

“We are implementing an ultrafine soil survey to further define the area while we are awaiting drilling approvals from the South Australian Energy and Mines.

“To continue our aggressive approach for discovery and showcasing the potential of the Highway project, we will be undergoing a project wide study to unlock other potentials. ”

Merino prospect

The Merino prospect within the Highway project in South Australia’s Gawler Craton is believed to be an overlooked mineral province.

Besides historical drill results, assays of porphyry-style rock chips have returned up to 1,300 parts per million molybdenum and 27ppm silver from the brecciated, veined, surface rock chips.

These results as well as the alteration and mineralisation signatures suggest that the prospect could be a Climax-type molybdenite porphyry.

This is potentially very significant as Freeport McMoran’s Climax molybdenum deposit in Colorado is the world’s archetypal high-silica alkali rhyolite-granite molybdenum porphyry deposit that has produced nearly 1 million tonnes of molybdenum over 100 years.

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.