- Binding deal with Havilah for three blocks near Marmota’s bonanza-grade Greenewood deposit
- Adding EL6468 ‘significantly enhances’ Challenger West’s gold-copper footprint
- Taiton may earn up to 80% through the completion of a PFS within six years
Special Report: Taiton Resources adds drill-ready targets to its Challenger West project through a farm-in that will accelerate gold-copper exploration in South Australia’s Gawler Craton.
Taiton Resources (ASX:T88) has struck a binding agreement with Havilah Resources (ASX:HAV) for three tenement blocks close to Marmota’s (ASX:MEU) portfolio of gold deposits, including Greenewood that has near surface bonanza-grade gold.
The farm-in over Exploration Licence (EL) 6468 includes shallow high-grade gold (>5g/t) and copper (>1%) mineralisation identified from historical drilling that expands the footprint of Challenger West.
“The addition of EL 6468 significantly enhances the prospectivity of the Challenger West project and provides Taiton with several compelling drill-ready targets in a region where recent drilling has delivered exceptional exploration results,” executive director David Low explained.
Significant intercepts include 9m at 1.57g/t gold and 0.53% copper from 33m including 4m at 3.34g/t gold and 0.82% copper from 33m (EN076).
Soil samples have been submitted for lab analysis, with assays pending to support a quick start to drill testing.
The Challenger West project begins 10km west and north of the 1.2Moz Challenger deposit where the process plant and camp has been on care and maintenance since 2018.
That’s now under review by Barton Gold (ASX:BGD) as gold rebounds towards US$4700/oz, after bottoming in the June quarter of 2026.
Meanwhile, Comex copper for September delivery hit a fresh record in overnight trade, up 1.8% at US$6.7270/lb or about US$14,830/t as American tariffs spook commodity markets.
Farm-in details
Taiton will issue 1.5 million fully paid ordinary shares to Havilah, subject to a six-month voluntary escrow period, as the initial consideration for the acquisition.
Havilah has appointed Taiton as exclusive operator and grants exclusive right during the farm-in period for exploration and evaluation activities.
Taiton may earn up to 80% interest in EL 6468 if it completes a pre-feasibility study within six years.
Upon Taiton earning that interest, Havilah may elect to contribute on a pro-rata basis through an incorporated joint venture or to dilute its interest to a 1% net smelter return (NSR) royalty.
Taiton may withdraw by giving at least 30 days written notice, provided it has satisfied the minimum commitment for the tenement year – unless Havilah agrees otherwise.
The farm-in agreement also contains the usual provisions on the rights and duties of the operator, compliance, land access, heritage, and confidentiality.
Endor calling
Historical exploration within EL6468 between 1997 and 2003 included broadly spaced calcrete sampling, shallow vertical historical rotary air blast (RAB) reconnaissance drilling to an average depth of 48 m, and limited RC drilling.
No exploration activity has been recorded within the tenement area since 2003.
At the Endor prospect, historical RAB drilling identified broad zones of anomalous gold (>100ppb) and copper (>1000ppm) mineralisation extending over a strike length >1 km.
High-grade assays for gold (max 5.54g/t) and copper (max 1.40% copper and logged malachite) have been returned with a best intercept of 4m at 3.34 g/t gold and 8198ppm copper.
“We are particularly encouraged by the historical Endor gold-copper mineralisation and the potential for the recently completed Ultrafine soil sampling program to identify additional targets along strike,” Low said.
“These results will play an important role in expanding and prioritising Taiton’s growing exploration pipeline at Challenger West.”
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.
