Taiton Resources Ltd (ASX:T88) has completed its second drilling program at the Highway Project's Merino Prospect in the Gawler Craton of South Australia, which has hallmarks of a large-scale molybdenum-enriched polymetallic porphyry.
The drilling program consisted of 1,896 metres of drilling across sixteen reverse circulation (RC) holes. A total of 1,001 samples have been collected and submitted to the lab in Adelaide for assay.
In addition, the company is awaiting assay results of the samples from the first drilling program that was completed in mid-September.
In the meantime, Taiton continues to review historical data on the Highway Project to plan its next course of action.
The Highway Project, which spans 2,930 square kilometres, is one of Taiton’s three projects, along with the 997-square-kilometre Challenger West Project, also in South Australia, and the 668.7-square-kilometre Lake Barlee Project in Western Australia.
The company’s initial focus is at Highway Project where magmatic-hydrothermal mineralisation has been identified at shallow depth and is interpreted to have formed at the same time as the world-class Olympic Dam deposit.
Taiton’s South Australian projects. The pink dot represents the location of the Merino prospect and the current location of the drilling program. Green mines are IOCG deposits.
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