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- Tao Commodities (TAO) has found some promising — and somewhat unexpected — gold results at its Moccasin and Captain Jack prospects
- The assay results spring from phase one exploration, using reconnaissance style grab sampling to test the gold potential at priority areas
- The current program took a total of 27 rock samples from the two prospects
- Results from different samples peaked at 17.4 grams per tonne (g/t) gold and a whopping 8760g/t silver
- The program also collected 209 soil geochemical samples which are still under analysis – with results expected in coming weeks
- The company will now need to undertake prospect-scale mapping to get a better picture of the orientation and dimensions of the mineralisation
- Tao Commodities has had a huge jump today, with the share price surging 67.5 per cent to 6.7 cents
Tao Commodities (TAO) has found some promising — and somewhat unexpected — gold results at its Moccasin and Captain Jack prospects at Milford in Utah.
The assay results spring from phase one exploration, using reconnaissance style grab sampling to test the gold potential at priority areas within the project.
The Milford Project
Previous exploration at Milford focused primarily on base metal targets like lead, zinc and silver contained within altered limestones and sediments. Accordingly, no gold assays were completed at the site.
A review of historical assay data showed two areas of interest as possible gold prospects, based on reconnaissance rock sampling conducted by Firestrike Resources in 2013. These were the Moccasin and Captain Jack prospects, which are the targets of the current sampling program.
A single sample from the old works at Moccasin returned over 7 grams per tonne (g/t) gold and 110g/t silver.
The current program took a total of 27 rock samples from the two prospects. Samples were collected from historical mine dumps, prospect pits and trenches, and outcrop, subcrop and float rocks.
The program also collected 209 soil geochemical samples. These are still under analysis with results expected in the coming weeks.
Captain Jack
The Captain Jack prospect is located at the southern end of Milford.
Tao had completed sampling at the prospect in 2018, but due to the base metals focus at the time, the samples weren’t analysed for gold.
The current program took a total of 14 samples from two sites at the prospect; namely Captain Jack and Captain Jack West.
Five samples returned anomalous gold, ranging from 0.99 to 17.4g/t.
Silver results ranged from 0.25 to a massive 8760g/t, with four samples assaying more than 100g/t.
The company will need to undertake prospect-scale mapping to get a better picture of the orientation and dimensions of the mineralisation.
Moccasin
13 samples were taken from Moccasin, situated at the northern end of Milford.
The new sampling was aimed at analysing a series of old workings orientated northeast over several hundred metres strike, where previous sampling had returned anomalous silver but wasn’t analysed for gold.
Four of the samples returned gold values of over 1g/t gold, and a majority of the 13 samples returned silver assays in excess of 100g/t.
A number of the samples also showed elevated base metal content, including lead, copper and zinc.
Similar to Captain Jack, further prospect-scale mapping is required.
Next steps
Once the soil geochemistry has been analysed, Tao can proceed with the required mapping, as well as further sampling and reconnaissance work.
The company will have its fingers crossed for more positive results.
Tao Commodities has had a huge jump today, with the share price surging 67.5 per cent to 6.7 cents as at 3:45 pm AEST.
