Tao Commodities Limited (ASX: TAO) has announced highly encouraging exploration results from its Milford Project in Beaver County, Utah, USA.
The company reported that reconnaissance rock sampling returned high grade results at Milford Project across the Captain Jack West and Moccasin Prospects areas.
TAO said that significant results of 17.4 g/t Au, 1.71% Cu and 8760 g/t Ag were returned from grab samples at the Captain Jack West Prospect, while Moccasin prospect returned significant results of 4.03 g/t Au, 1.98% Cu and 1560 g/t Ag.
The company said that as part of the phase 1 exploration program, a total of 209 soil geochemical samples were also collected at Captain Jack (600m by 900m) and Moccasin (700m by 700m). These samples are currently at the laboratory awaiting results in the coming weeks.
The Milford base metals Project consists of 100 Mining Rights on US Bureau of Land Management (BLM) administered land covering approximately 8.36km2.
The Project is considered prospective for epithermal and replacement style precious and base metal mineralisation along structural corridors in reactive host rocks.
Significant prospects include Captain Jack, Moccasin, Silver Bear, and Silver Gulch.
Tao said that the previous exploration conducted by the Company primarily focused on replacement style Manto-style base metal targets (Zn, Pb, Ag) within altered limestones and sediments.
Several phases of exploration since TAO acquired the project confirmed historical base metal results as well as locating new prospect areas. Due to base metal focus at the time, no assaying for gold was completed.
Encouraging results from review of historical work
Tao reported that the review of historical work has shown that two prospect areas within the Milford Project returned anomalous gold assay results from reconnaissance rock sampling completed by Firestrike Resources Ltd in 2013.
This work returned gold anomalous assays from the Captain Jack and Moccasin areas, although no further work was completed subsequently.
The company said that a single grab sample from old workings in the Moccasin area returned over 7 g/t Au with 110 g/t Ag hosted in altered and quartz veined sediments whilst a sample of outcropping ferruginous quartz veins at Captain Jack assayed 0.99 g/t Au.
These results led to the commencement of phase 1 exploration program at Captain Jack and Moccasin prospects.
Reconnaissance rock sampling
The company said that the exploration comprised early stage reconnaissance style grab sampling as part of the Company’s Phase 1 exploration programme that aimed to test the gold potential at priority areas within the Project.
A total of 27 rock samples were collected in the current programme targeting these two areas. Samples were collected as grab samples from historical mine dumps, prospect pits & trenches, and outcrop or sub crop/float.
The company reported that it has now completed the initial reconnaissance rock sampling at the Milford Project.
High-grade gold and silver from rock chips
Tao announced that significant results of 17.4 g/t Au, 1.71% Cu and 8760 g/t Ag were returned from grab samples at the Captain Jack West Prospect, whilst at Moccasin, significant results of 4.03 g/t Au, 1.98% Cu and 1560 g/t Ag were received.
Captain Jack prospect
The company said that a total of 14 samples (ML001-014) were collected at two main areas, the Captain Jack and Captain Jack West Prospects.
TAO reported that five samples returned anomalous gold, ranging from 0.99 to 17.4 g/t Au. Silver results ranged from 0.25 to 8760 g/t, with four samples assaying >100 g/t (ppm) Ag.
The company said that a total of nine samples (ML001-009) were collected mainly from old prospecting/mine dumps, outcrop or float/subcrop proximal to road cuttings.
Among them, sample ML03 assayed 17.4 g/t Au, 8760 g/t Ag, 1.71% Cu with associated anomalous As, Pb, Sb and Zn to ppm levels.
At Captain Jack, significant results to 0.99 g/t Au and 2.02 g/t Ag with elevated As were returned from sample ML010.
TAO noted that the mineralisation was hosted within brown to purple weakly bedded altered carbonate with possible fine-grained ex-sulphide pitting and quartz veinlets. The company said that further detailed prospect-scale mapping is required to better understand the orientation and dimensions of the mineralisation.
TAO said that a total of 13 reconnaissance rock samples (ML015-027) were collected at the Moccasin Prospect located in the northern portion of the Milford Project.
The company reported that four samples, (ML015-018) returned gold values of +1 g/t (all samples ranged from 0.05 to 4.03 g/t, with associated silver to 1000 g/t.
TAO said that for all Moccasin samples, silver ranged from 0.27 to 1560 g/t, with nine samples assaying >100 g/t Ag. A number of samples also returned elevated base metal assay results.
Significant results were 15.1% Pb, 4.64% Zn and 1.21% Cu.
The company said that the mineralisation was traced along a northeasterly orientation for over 200m and is hosted within dark grey- to grey-brown altered carbonate to cherty carbonate rocks with moderate to intense ferrugenization and pitting after sulphide. Some remnant sulphide including pyrite and chalcopyrite together with copper oxides was observed.
Tao said that further detailed prospect-scale mapping is required to better understand the orientation and dimensions of the mineralisation.
Further results expected
Tao said that as part of this programme, a total of 209 soil geochemical samples were also collected at Captain Jack (600m by 900M) and Moccasin (700m by 700m). The company said that these samples are currently at the laboratory with results expected in coming weeks.
The company reported that further exploration will be planned once all geochemical results have been received but will initially include detailed prospect scale mapping and sampling together with additional reconnaissance prospecting work.