While the-now Taiton Resources was unable to secure the Jumbuck gold project in South Australia's Gawler Craton, it comes to market with three greenfields projects: Highway and Challenger West, and Lake Barlee in Western Australia.

 

Taiton is seeking up to A$10 million to relist and chase gold and base metals.

 

Three underwriters - Global Bridge Group, AsiaPacific Businesslink, and UBB Investment Bank - have agreed to put in the minimum $7 million at 20c.

 

Its current cash position is $197,000. It has been kept alive by director loans for the past few years.

 

The exploration cash will be primarily directed to its Highway and Challenger West prospects in SA.

 

Highway gets its name from the Stuart Highway that crosses the project, and contains the Merino prospect that Taiton suggests "has hallmarks of a large-scale molybdenum-enriched polymetallic porphyry" that has been overlooked by past explorers. 

 

Its work has defined conceptual potential for a large-scale hydrothermal/polymetallic-porphyry system outside of the recognised metalliferous Olympic district.

 

It may also be prospective for ionic clay rare earth elements given recent drilling nearby by Petratherm.

 

Challenger West covers a combined 997sq.km and contains "extensive coverage of gravity ridges".

 

It suggests the area has been "artificially sterilised" by a prior focus on using the calcrete sampling that was used to discover the nearby Challenger gold deposit, and offers untested potential. 

 

Lake Barlee in WA is 65km southeast of Youanmi, and is being vended in by Glen Goulds and Paul Poli for $100,000.

 

The project covers 668sq.km of the Yilgarn Craton and recent airborne electromagnetic survey data that has led to drillable targets begin designated.

 

There is a historical greenstone-associated gold target below the lake, which floods about once a decade. 

 

The last gold work was completed by Beacon Minerals defined an orogenic gold trend and saw mined 60,000 tonnes at 10.6gpt gold recovered at Halleys East, about 15km to the southwest.

 

Team Taiton includes chair and Malaysian businessman Chris Low, managing director and geologist Noel Ong, accountant David Low, Tietto Minerals director Mark Strizek, and non-executive director Florence Drummond, who is CEO of Indigenous Women in Mining and Resources Australia.