Proactive Investors - Run By Investors For Investors

Tao Commodities confirms high-grade zinc, lead and copper in Utah, US

The company listed on the ASX in April 2018 after raising $4.75 million from an initial public offer.
Looking south from the Milford Project
Looking south from the Milford Project

Tao Commodities Ltd (ASX:TAO) has received encouraging results from 88 rock chip samples collected from its 100% owned Milford Project in Beaver County, Utah, USA.

The assay results provide confirmation of the historical work and also confirms the significant potential of the Milford Project as a high-grade zinc, lead and copper target.

Tao identified mineralisation across all three of the prospects contained within the broader Milford Project. Peak values for zinc were recorded above the cut-off sampling grade of 30.0% zinc.

Interestingly, a number of assays returned significant values of copper, ranging as high as 8.52% copper, which was not identified during the 2013 Firestrike Limited exploration program.

Outcropping and surface mineralisation found at Milford Project

TAO managing director Patrick Glovac said: “The results are extremely exciting for shareholders, confirming high-grade mineralisation is present, most importantly, at surface and at all three prospect areas within the broader Milford Project.”

Phase I exploration in full swing

The company is continuing with its phase I exploration program with further sampling, trenching and structural mapping to commence in the coming weeks.

The program has also been expanded to incorporate the recently announced additional 100 mining claims to the south west of the original Milford Project.

In addition, Tao is working with Harrison Land Services LLC to expedite the permitting process in an effort to be able to move into the phase II exploration, which will include a maiden drilling program.

View full TAO profile View Profile

Tao Commodities Ltd Timeline

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use