Taiton Resource’s admission onto the ASX comes as initiation search gets underway for a new mineral system next to the renowned Olympic Dam Province in South Australia.

Taiton Resources (ASX:T88) today lists on the ASX with its fully underwritten IPO raising $7 million to conduct exploration activities for its three projects.

The early-stage exploration and development company is focused predominantly on gold and polymetallic. Its three projects include Highway and Challenger West in South Australia and Lake Barlee in Western Australia.


Taiton Resources ASX T88 IPO
Source: Taiton Resources


Highway project exploration underway

T88 has kicked off exploration activities on the Highway project and has initiated the request for heritage surveys for impending field mapping, surface sampling and geophysical surveys.

A contractor has been selected to conduct and complete an induced polarisation (IP), resistivity and magnetotelluric (MT) surveys for the Merino and Angus prospects, within the Highway project.

The Highway hosts major IOCG (iron oxide copper gold) deposits including Olympic Dam, Carrapateena and Prominent Hill.

The Olympic Dam deposit, discovered by Western Mining back in 1975, is considered one of the world’s largest iron-oxide-copper-gold (IOCG) deposits and the fourth largest copper deposit globally. It’s located roughly 350m below the surface.

Rigorous geophysics programs have provided compelling evidence for not only an extension to the OME Domain, but also that Merino Prospect itself is likely a shallow hydrothermal system, i.e. by way of the zircon isotope analyses.

Notably, the evaluation of the data shows that Merino is potentially tapping the source rocks that feed the Olympic Dam IOCG Belt.

Challenger West Project

T88’s recently acquired Challenger West Prospect lies 190km northwest of the Highway Prospect and west of the Challenger Mine, 150km southwest of Coober Pedy.

T88 believes that the existing data, which has a good historical indicator of district-scale mineralisation, supports a strategy for a new gold discovery at Challenger West.

The company said the Challenger gold camp is well understood, and it is well-placed to capitalise on the vast amount of historic data available in the public domain and on SARIG.

T88 has not acquired any new data other than to reprocess the gravity data to produce higher resolution Bouger anomaly maps highlighting the relationship of the mineralisation to gravity gradients.

Lake Barlee Project

The Lake Barlee Project tenements lie predominantly on an intermittent playa salt lake, the second largest in WA.

A greenstone-associated gold target defined under Lake Barlee on E77/2700 during interpretation of magnetic data in 2009 has not been drill tested.

Some 60,000kg/Au @ 10.6g/t Au has been mined from Halleys East, located 15km southwest of the Lake Barlee tenements.

Geological mapping indicates no greenstone outcrop on Lake Barlee tenements and only little exploration has been reported in some areas of residual soil over granite proximal to greenstone on tenement E77/2700, or distal from greenstone on tenements E57/1158 and 1168.

The Yuimery Shear Zone defines a highly prospective granite-greenstone boundary and is one of the principal exploration targets, along with a fault splay off the Youanmi Fault.

Both faulted and shear-zone structures seem to have formed as a competency (rheology) contrast between granite-greenstone contacts.

Excited to be listed on ASX

T88 managing director Noel Ong said the company is excited to have completed the listing process on the ASX. The team has worked incredibly hard to complete the process.

“We are totally focused on giving back to the shareholders who have supported and invested in our story,” Ong said.

“Our exploration plans have started, and we are wasting no time in getting the planning ready for more intense exploration activities in the coming 2023.

“We have completed our Heritage Agreement on the Highway project and in doing that, it has allowed the company to fast-track exploration activities in preparation for a drilling program in 2023. “



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.