Taiton Resources granted new exploration licence in NSW
Kingsgate is prospective for both molybdenum and quartz across 8km strike
Extensive historical data from project’s former owner being evaluated
Tenure adds weight to Taiton’s lucrative Highway project in South Australia
Special Report: Taiton Resources has expanded its resources portfolio after landing a new exploration licence at the Kingsgate project in New South Wales, a historical mine with a proven 8km strike length full of molybdenum and quartz occurrences.
High in demand, yet often flown under the radar, molybdenum is essential to producing high-quality steel alloys that can withstand intense pressures and temperatures.
Taiton Resources (ASX:T88) has obtained historical data of Kingsgate from Auzex Resources, which shows high prospectivity for molybdenum occurrences across an 8km strike length.
Kingsgate’s history
The Kingsgate project in central NSW was once a significant producer of tin and molybdenum, pulling out an estimated 300,000t of tin and 450t of molybdenum respectively.
Extensive work between 2006 and 2010 also shows high-purity quartz pipes concentrated within the central zone of the old Kingsgate mine area.
The most significant mineral occurrences are the Kingsgate molybdenum-bismuth quartz pipes which are developed in clusters within the granite adjacent to its intrusive margin.
The Kingsgate exploration licences. Pic: Supplied (T88)
Kicking off exploration
T88’s exploration team is now looking at the historical datasets from Auzex and is planning its exploration strategies to advance the project.
One of the clear strategies is to map a quick course of action to establish a production status through the advanced stage of Auzex’s work over the years.
Work at Kingsgate by Auzex involved established trial mining, scoping work and a feasibility study – put that all together and T88 can fast-track development.
T88’s first task, it says, is to draw up a development pathway to economically mine both the molybdenum and high-grade quartz.
The second step is to understand the regional aspect of the project and see if they can find other clusters of mineralised pipes in an effort to expand the scope of the project.
T88 executive director Noel Ong says projects like Kingsgate allow the company to progress down the production pathway and create potential future income for all shareholders.
“The greatest asset of the project is that Auzex has done a significant amount of work towards the same pathway which will reduce our potential operating expenses,” Ong says.
“What makes Kingsgate so prospective is that geologically, we are in a molybdenum mineralisation sweet spot.”
Hear more from Ong on everything you need to know about molybdenum below
Over in South Australia…
Kingsgate adds to T88’s already sweet-looking Highway project in South Australia – a significant molybdenum play with recent exploration intersecting significant mineralisation over a width of more than 1,000m.
The underexplored 2,930km2 Highway project hosts shallow magmatic-hydrothermal mineralisation interpreted to have formed at the same time as the world-class Olympic Dam deposit in South Australia’s Gawler Craton.
Want to know more about molybdenum? READ MORE: Flying under the radar: Moly’s all the rave
This article was developed in collaboration with Taiton Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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