The maiden drilling program at Taiton Resources Ltd (ASX:T88)’s Highway Project in the Gawler Craton of South Australia has started, with the company already completing five drill holes.
Drilling, which is being done by Kennedy Drilling, is going as planned as Taiton experiences no unfavourable drilling conditions.
Currently, there is good sample recovery and if the drilling conditions continue to be favourable, the company expects to finish the program within three weeks.
Taiton will start to dispatch samples to laboratories this week.
Location of Taiton 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.
“To say that the entire team is excited is an understatement. The start of the drilling at Merino is a fantastic time for Taiton Resources. The time has come for us to provide evidence to support our belief in the Highway project,” Taiton managing director Noel Ong said.
“Our exploration work prior to this drilling stage has shown strong evidence that our original theory of uncovering a large undiscovered fertile mineral system is valid.
“What is most important, is that the exploration team has ticked all the boxes that are required to support our strong faith in making a discovery. The work has shown without question that there is a mineral system at Merino. The start of the drilling will begin the process of putting the discovery pieces together.”
Drilling at the Merino prospect.
Focused on priority 1 targets
Taiton has initiated a reverse circulation (RC) drilling program to deepen its understanding into the Merino prospect's geological profile.
It aims to complete 3,000 metres of drilling, with provisions for expansion based on drilling capabilities and observed geological data.
The drilling focuses on Priority 1 targets, identified through historical shallow geochemical anomalies and corroborated by alteration halos captured in radiometric imagery and a recent Induced Polarization (IP) survey.
These activities are a continuation of Taiton’s systematic approach to exploring Merino, first announced on August 2, 2023.
The scale of exploration covers an alteration footprint measuring a nominal 3.7 kilometres by 2.6 kilometres and varying depths ranging from less than 10 metres to over 500 metres below the surface.
Initial findings suggest the presence of a magmatic-hydrothermal system, likely driven by an interpreted intrusion. These factors inform the company's geological model, which is designed to identify either a molybdenum porphyry system or a potential polymetallic greisen.
The company will focus its drilling on higher chargeability responses (9 mV/V shell) that coincide with resistive responses, as illustrated in the current geological model from chargeability IP data.
Interpreted Intrusion (modelled 1,000 Ωm shell, yellow) with associated areas of potential alteration indicated by chargeability, Magenta (9 mV/V shell) and Red (5 mV/V shell) layered with historical drilling coloured by Mo ppm, green > 500 ppm and cyan 100–500 ppm.
Ong said, "It will take time to work through our exploration strategies and this drilling program is the beginning of the exploration journey. We know that there will be many steps but we have begun.
"Additionally, we are awaiting the results from our previous Ultrafine soil survey results. The results from the Ultrafine survey will allow Taiton to see if there are new targets as well as refining any current drill targets.
"The board would like to thank the entire exploration team for the efforts. The significance of arriving at this crucial step of our exploration effort cannot be understated.”
Taiton’s systematic approach aims to unlock the Merino prospect's full mineral potential.
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