Taiton Resources Unveils Promising Gravity Anomalies at Highway Project
TAITON RESOURCES LIMITED (T88) Share Update September 2024 Tuesday 17th
Taiton Resources Identifies Significant Gravity Anomalies at Highway Project
Taiton Resources Limited (ASX: T88) has announced the results of recent gravity surveys at the Pluto and Yogi-Garfield prospects within its Highway project in South Australia, revealing significant gravity anomalies that bolster the potential for Iron Oxide Copper Gold (IOCG) mineralisation.
Instant Summary:
- Gravity anomalies up to 6 mGal identified.
- Potential for IOCG mineralisation supported by geological setting.
- Survey conducted across Pluto, Yogi, and Garfield prospects.
- 3D inversion modelling defines a broad body of nominal 2.97 g/cm3 density over a strike length >5 km at Yogi.
- Pluto survey identifies a 1.5 mGal anomaly coincident with a magnetic anomaly.
Survey Results and Geological Context
Taiton Resources Limited has completed gravity surveys at the Pluto and Yogi-Garfield prospects within its 100% owned Highway project in South Australia. The surveys, which began in late July, were conducted across target areas identified for potential IOCG mineralisation from a project-wide geological review.
The gravity surveys at the Pluto, Yogi, and Garfield prospects were initially conducted on a 400m-by-400m grid, with infill sampling as required. These areas cover interpreted Hiltaba Suite Granites (HSG) and Lower Gawler Range Volcanics (LGRV), both known to host IOCG mineralisation.
Yogi-Garfield Prospects
At the Yogi prospect, the gravity survey defined a >6 mGal anomaly with a strike extent of approximately 1.5 km within a broader gravity feature. This anomaly is offset from a distinct magnetic anomaly, suggesting potential IOCG mineralisation. 3D inversion modelling of the gravity data has defined a broad body of nominal 2.97 g/cm3 density over a strike length >5 km.
In contrast, the Garfield prospect did not reveal significant gravity anomalies, indicating a lower potential for IOCG mineralisation in this area.
Pluto Prospect
The Pluto prospect survey identified a 1.5 mGal anomaly in the southeast of the survey area, coincident with a magnetic anomaly. 3D inversion modelling has defined a dense source body of >2.80 g/cm3. This body could represent a hematite alteration zone, which is a high priority target for drill testing to resolve its potential to host IOCG mineralisation.
Next Steps
Based on these encouraging results, Taiton Resources plans to obtain heritage and SA Mines Department approval to evaluate these targets further. The company remains optimistic about the potential of the Yogi prospect to host IOCG style mineralisation and is preparing for drill testing.
The identification of significant gravity anomalies at the Highway project is a positive development for Taiton Resources. These findings support the potential for IOCG mineralisation, which could significantly enhance the company's asset portfolio. The market may react positively to this news, as it indicates promising exploration results and potential future discoveries.
Investor Reaction:
Analysts are likely to view this announcement favorably, given the potential for significant mineral discoveries. The identification of gravity anomalies and the planned drill testing could lead to increased investor interest and confidence in Taiton Resources' exploration strategy.
Conclusion:
Investors should monitor Taiton Resources' upcoming drilling programs and further exploration results at the Highway project. The company's strategic approach to uncovering IOCG mineralisation could present significant opportunities for growth and value creation.