Taiton Resources Ltd (ASX:T88) has received environment approval to drill a significant molybdenum anomaly in a second drilling program at the Highway Project’s Merino prospect in the Gawler Craton of South Australia.
The environmental approval from South Australia’s Department of Mines and Energy allows Taiton to drill up to a total of 20 additional locations. Taiton is aiming to test the coherent molybdenum anomaly that was identified from the UltraFine Soil Survey completed in August.
The drill targets, located to the north and east of the drilling program completed in September, are supported by associated base-metal anomalism coincident with molybdenum.
The company is now finalising the process of organising drill contractors and preparing drill pads.
Taiton executive director Noel Ong said: “Our exploration activities are now gathering pace as we vector into what could be a discovery moment for the company. The culmination of all the hard work over the last nine months is now an important part of our journey to uncover a potential fertile hidden mineral system at our Highway Project.
“We are very appreciative of the pace at which our [environmental approval] has been approved by the South Australian Mines Department. This has allowed Taiton to initiate this phase of our exploration prior to the end of 2023.”
Assays from maiden drilling program
Taiton is awaiting assay results from the maiden drilling program completed in September, which they believe are “very close” to being received.
The assay results may create more opportunities for drilling within the area of the first drill program. There are approved drill sites that were not a priority in the last reconnaissance drilling program.
Ong added, “We are also anticipating the return of our drilling assays in the coming weeks which may potentially open new areas for the company while we have the drill crew on site. The good news is that if the assays identify mineralisation, we have approved drill sites within the last drill program to consolidate the story.
“The board would like to continue to thank the team for their efforts in working arduously to get this next phase of drilling in good time. We will update the market as soon as we have more news on the progress of the upcoming drill program.”