Talisman Mining (ASX:TLM) has restarted field-based exploration work at its Mabel Creek prospect, located within the Mabel Creek Iron Oxide Copper-Gold (IOCG) Project in South Australia.
An extensive ground gravity survey — conducted by Atlas Geophysics — is currently underway over prospective geology and magnetics on 250m to 500m station centres.
Talisman, which has a market capitalisation of $49.9 million, expects the survey to take between six and eight weeks to complete. The results of the survey will be used to generate drilling targets for a program set to begin in the second half of 2024.
The company notes that this is the first on-ground exploration work to be carried out on the project area in 14 years.
“Mabel Creek is a project that we acquired in 2023 and we believe is prospective for large-scale IOCG-style mineralisation as seen elsewhere in the Gawler Craton,” Managing Director Andrew Munckton says.
“The neighbourhood is very active with exploration programs being undertaken by Rio Tinto (ASX:RIO), Fortescue Metals Group (ASX:FMG), and Petratherm (ASX:PTR) in the area.”
Mabel Creek lies 25km west of Coober Pedy in South Australia.
Talisman Mining is an Australian mineral developer and explorer focused on gold and base metals.
As of 31 December 2023, the company had $7.43 million in cash and cash equivalents at hand, according to its latest half yearly financial report.
Write to Aaliyah Rogan at Mining.com.au
Images: Talisman Mining
