TAITON RESOURCES

(ASX:T88)

COMPANY PROFILE

Taiton Resources celebrated the end of 2022 with a milestone ASX debut following a successful IPO that raised over $7 million.

The early-stage explorer has assembled a portfolio of highly prospective projects in mineral-rich regions of Western Australia and South Australia.

Most notably, Taiton’s Highway project hosts part of the same major mineralised system that underpins BHP’s massive Olympic Dam polymetallic mine in South Australia’s Gawler Craton.

The Gawler Craton is an extremely fertile region that has yielded numerous economic discoveries of gold, diamonds, copper, nickel, iron ore, and uranium along with other minerals.

Demonstrating the potential of the region, the Olympic Dam mine is the fourth largest copper deposit and the largest known single deposit of uranium in the world.

Other major projects located in the Gawler Craton include the Prominent Hill mine, which produces one of the highest grades of copper concentrate on the market, and the Carrapateena copper-gold-silver deposit, one of the largest mining projects in South Australia in the last decade.

So, there is vast exploration blue sky for Taiton to work with. The company believes central South Australia, where the Highway project is located, could potentially be a new mineral district with high metallogenic potential and large volume deposits.

T88’s other South Australian gem is known as the Challenger West project, which is located close to the well-established and pastoperating Challenger gold mine.

Discovered in 1995, the Challenger mine produced ~1.2 million ounces of gold between 2002 and 2018 from the 650,000-tonne-perannum processing plant, which is the jewel in the crown for emerging gold producers in the region because it has the potential to be restarted and positioned as a regional processing hub.

Taiton was the lucky last explorer permitted to enter the area before the South Australian government placed restrictions on

new applications.

In Western Australia, Taiton has established a foothold in the Lake Barlee region, which is situated in the Yilgarn Craton, a large mineral-rich area that has spawned numerous major mines over the past few centuries and has been described as “Australia’s premier gold and nickel province”.

T88 has an extensive database of historical exploration data generated by several explorers over the past three decades. This data comprises drilling results showing significant levels of gold and other polymetallic mineralisation.

The cash raised in the recent IPO will be used to systematically explore the three projects, with the goal being to unearth the next major mine.

Taiton has already identified several walkup drill targets that it plans to investigate in the current exploration program.

The newly minted company is also focused on creating shareholder value through acquisitions and is keeping an eye out for attractive exploration and development opportunities that complement its existing portfolio and provide strong potential for growth.

KEY POINTS

◾ Company Name: West Cobar Metals

◾ Company ASX code: WC1

◾ Key Commodities: Rare earths, lithium, copper, gold

◾ Key Personnel: Robert Klug, Non-Executive Chairman | Kevin Das, Executive Director | David Pascoe, CEO

◾ Locations: Western Australia, Northern Territory & New South Wales

◾ Market Cap as of 25/01/23: $16.71M

◾ 52-Week Share Price Range at 25/01/23: $0.095 - $0.335

◾ W: westcobarmetals.com.au

INVESTMENT HIGHLIGHTS

DECEMBER 12: Extensive first phase of 9000m aircore drill program commences, designed to extend the inferred resource at the Newmont REE deposit and explore other parts of Salazar. Assays expected Q1 2023.

NOVEMBER 7: Exploration target of 200-500Mt of 1000-1400 parts per million total rare earth oxide established, highlighting potential to extend Salazar inferred resource.

OCTOBER 31: WC1 completes acquisition of the Salazar rare earth element clay project with an inferred JORC resource of 43.5 million tonnes at 1192ppm TREO.

KEVIN DAS EXECUTIVE DIRECTOR

West Cobar Metals

(ASX:WC1)

Company Profile

West Cobar is fast tracking the development of its Salazar project, which features some of the highest grade clay-hosted rare earth element (REE) resources ever discovered in Australia.

This exciting REE project, acquired last October, comes with more than eight years of exploration data, as well as metallurgical and technical studies. It also offers substantial potential to extend resources at a time of rapidly escalating demand for REEs.

Acquired from privately owned Salazar Minerals, the project is located on nonagricultural undeveloped state land close to port, rail and air services, and only 120km from the deep water port of Esperance in Western Australia’s south.

The most advanced of the Salazar prospects, Newmont, already boasts an inferred mineral resource of 43.5 million tonnes at 1192ppm total rare earth oxide and features low levels of uranium and thorium. The Newmont deposit also includes a high-grade alumina zone with an Inferred Mineral Resource of 3.4Mt of 31% Al2O3.

Now an exploration target of 200-500Mt of 1000-1400ppm total rare earth oxides (TREO) has been established, and an aircore drilling program is underway. The aim of the program is to both increase the inferred resource at Newmont and to delineate areas where additional inferred resources can be defined at Newmont, plus explore the O’Connor licence area within the project.

West Cobar has engaged The ARC Centre of Excellence for Enabling Eco-Efficient Beneficiation of Minerals (COEMinerals) and Nagrom to carry out metallurgical testwork and optimisation studies concurrently, to keep the project moving forward at a steady pace.

The rare earth mineralisation at Salazar is clay-hosted, making it amenable to mine using conventional open pit methods, without the need for crushing and blasting using explosives.

Most of the project’s value will be derived from high-value magnet rare earths –neodymium, praseodymium, dysprosium, and terbium oxides. These are critical for high performance permanent magnets that are essential for clean-energy products such as

EVs and wind turbines.

Testwork at the Newmont deposit has shown that radioactive elements uranium and thorium are at very low levels. At higher levels, these elements can be problematic for rare earth projects due to the treatment of radioactive elements.

Another recent addition to West Cobar’s project portfolio is the 667sq km EL33208 tenement in the Northern Territory, Litchfield Province.

Known as the Hermit Hill Project, EL33208 was granted just before Christmas and is being assessed for its lithium prospectivity given it lies in the same region as Core Lithium’s Finniss Project and Ragusa Minerals’ Tank Hill lithium discovery.

West Cobar has a further three projects at various stages of exploration 100-200km west of Cobar, including Bulla Park Project (copper and silver); Cawkers Well (gold); and Nantilla (copper, base metals, and gold).

The company is led by a highly experienced team with a strong track record in the resources sector.