Exploration Update on Taiton Resources' Highway Project

Taiton Resources Limited (ASX: $T88) has announced the confirmation of broad-spaced molybdenum mineralisation at the Highway Project in South Australia. The exploration update includes the intersection of broad molybdenum anomalism at the Merino prospect, with higher-grade molybdenum reaching up to 1,330 ppm Mo over 1m. Additionally, reconnaissance exploration fieldwork has identified indicators of prospective hydrothermal activity over a strike length exceeding 10km. The completion of a heritage survey is set to accelerate exploration in the first quarter of 2024.

Executive Director's Commentary on Exploration Results

It has been a long time coming to reach this phase of our Highway Project. This is an exciting time for Taiton as we are finally doing real mineral exploration and I am especially excited to finally get some real geochemistry on the Highway Project. This first phase of our drilling has confirmed our initial belief that the Highway Project holds the potential for a hidden mineral system that has a significant polymetallic discovery. The results are a clear indication that the Highway Project has the hallmarks of a hydrothermal system driven by felsic intrusion. The results have identified that we are too high up in the profile and this has prompted exploration to seek the potential boundary of the intrusion. The geological evidence is supportive of a mineralised system. The broad mineralisation indicates to us that the region is 'cooking' something of scale. The exploration team has been quick to move to the next phase of our exploration by completing a heritage survey to allow testing of the regional prospectivity. The team has identified regions that appear to be potential for IOCG and related styles of mineralisation. Exciting times lay ahead for shareholders and stay tuned for upcoming news.

Summary of Exploration Update and Outlook

Taiton Resources' exploration update at the Highway Project in South Australia has confirmed broad-spaced molybdenum mineralisation at the Merino prospect, with significant molybdenum anomalism intersected, including higher-grade molybdenum reaching up to 1,330 ppm Mo over 1m. The completion of a heritage survey is set to accelerate exploration in the first quarter of 2024. The company is actively assessing the broader Highway Project for Iron Ore Copper Gold (IOCG) mineralisation and has expanded exploration efforts, targeting areas with the potential to host Hiltaba Suite Granites (HSG). The executive commentary by Noel Ong, Executive Director, emphasizes the potential for a significant polymetallic discovery and the hallmarks of a hydrothermal system driven by felsic intrusion. The company's exploration team is moving swiftly to the next phase of exploration, with a focus on testing the regional prospectivity and identifying potential regions for IOCG and related styles of mineralisation. The pending assay results from the second phase of drilling at Merino and the identification of potential IOCG regions indicate exciting times ahead for shareholders.