Gold and base metals explorer and developer Talisman Mining (ASX:TLM) has kicked off a potentially ‘transformational’ new phase of exploration at its Lachlan Copper-Gold Project in New South Wales.
The $27.3 million market capitalisation company has started a 7,200m reverse circulation (RC) drilling program at the project to test 4 ‘high priority’ prospects considered prospective for silver-zinc-lead-copper-gold mineralisation.
These prospects include the Rip & Tear, Noisy Ned, Carpina North, and Durnings prospects.
Talisman reports drilling has been designed to provide a follow-up drill test of anomalous soil geochemical results with prospective coincident geophysical anomalies generated during its 2022 and early 2023 regional surveys.
This work represents the beginning of an ‘exciting’ and ‘transformational’ new phase of exploration, Talisman says.
Work is scheduled for completion by late October this year, with results anticipated to identify further walk-up drill targets for a second phase of drilling.
Speaking on the start of drilling, Talisman Mining Managing Director Andrew Munckton says: “We are pleased to announce the recommencement of RC drilling at our Central Lachlan Project in New South Wales. The geological team have completed reviews of the company’s larger and most attractive targets across our extensive, highly prospective gold and base metals tenure. We will test these targets with this initial phase of RC drilling before moving to other targets in the assessment pipeline.
I anticipate that we will have a steady stream of news-flow for the remainder of 2023 as we work through the program along with ground-based geophysical and geochemical surveys designed to add and rank further targets for testing following the initial phase of drilling.
I am confident that the renewed focus on larger, more compelling targets will stand us in good stead to deliver a significant new discovery for the Company and our shareholders.”
Talisman Mining is focused on the exploration, discovery, and development of complementary opportunities in base and precious metals.
The company’s Lachlan project is located in the Lachlan Fold Belt of Central New South Wales, where it has amassed a dominant position in what is a ‘highly mineralised’ but underexplored mining district.
Talisman Mining had $9.8 million cash at hand as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Talisman Mining
