Taiton strikes more moly at Highway

Junior explorer Taiton Resources (ASX:T88) has struck over 1,000m of molybdenum mineralisation from its second bout of drilling at its Highway Project in South Australia’s Gawler Craton. 

The mineralisation comes from the Merino prospect in the project area, where Taiton drilled 16 reverse circulation (RC) holes for 1,896m in November 2023.

Alongside the molybdenum mineralisation, Taiton says the results show evidence of an epithermal system with silver of up to 92 grams per tonne (g/t) associated with low levels of gold and base metals like zinc and lead. 

Some of the top assay results from this drilling include 17m @ 209 parts per million (ppm) Mo, 436ppm Pb, 45ppm Zn, and 0.49g/t Ag from surface in hole HRC23-023, 9m @ 119ppm Mo, 211ppm Pb, 28ppm Zn, and 0.45g/t Ag from 2m in hole HRC23-024, and 30m @ 126ppm Mo, 165 ppm Pb, 36ppm Zn, and 0.38g/t Ag from surface in hole HRC23-035.

Taiton says while the results show a ‘clearly fertile system with coherent molybdenum mineralisation’ at Merino, the geology of this prospect suggests that it represents the lower-grade core of a mineralised system. 

As such, the company will now focus on exploring away from Merino into other prospective areas, including the ‘high-priority’ Garfield prospect 8km to the south-southeast, from where rock samples show evidence of hydrothermal activity that could indicate an epithermal system.

Taiton Executive Director Noel Ong says the latest drilling results offer encouragement to the company of the potential scale of the system at the Highway Project. 

“The broad-spaced mineralisation footprint that has been defined from phase one and phase two drilling is clear evidence that molybdenum mineralisation exists at Highway. 

Drilling to date is interpreted to place Merino in the lower core of a mineralised intrusion, and based on this, Taiton will now look to expand its exploration program outwards of Merino to areas that have potential to improve the tenor of molybdenum mineralisation.”

“The broad-spaced mineralisation footprint that has been defined from phase one and phase two drilling is clear evidence that molybdenum mineralisation exists at Highway”

He adds that the elevated precious and base metals in the Highway area are a ‘welcome surprise’ to the company, and Taiton will now explore the potential for these minerals in tandem with its molybdenum work. 

As for its next exploration steps, Taiton says it has completed heritage approvals for surface geochemical sampling and ground geophysical surveys at the Garfield prospect, and exploration in this zone will begin once the company has reviewed all necessary data. 

Today’s (24 January 2024) drill results come just one week after Taiton announced it had applied for two new exploration licence applications that make up the Kingsgate Molybdenum Project in New South Wales. 

Write to Joshua Smith at Mining.com.au

Images: Taiton Resources
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Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.