Talisman Mining (ASX:TLM) has secured an exploration licence dubbed the Yarindury Project in New South Wales, which represents a porphyry-style copper–gold target.
The Yarindury Project lies in the same “highly prospective” geological and mineralised belt as Alkane Resources’ (ASX:ALK) Boda-Kaiser Project.
Talisman Mining, which has a market capitalisation of $48 million, has recently signed a landholder access agreement and will submit its exploration application to the New South Wales Department of Primary Industries and Regional Development early this week.
A proposed maiden exploration program will comprise five diamond drill holes targeted at the basement rocks at the large geophysical feature. Additional drilling may be conducted if initial geological prospectivity and presence of mineralisation is confirmed.
Subject to securing state government approval, drilling is scheduled to begin this quarter.
Managing Director Andrew Munckton says drilling will provide the company with detailed geological context as to the potential style and scale of the copper-gold mineralisation associated with the geophysical anomaly.
“At a time of strengthening copper and gold prices around the world, this new project offers exploration exposure to their tier one Molong Volcanic Belt, which hosts several major porphyry-style copper-gold deposits,” Munckton says.
“Yarindury’s location within the Molong Volcanic Belt and its side-by-side comparison with the world-class Cadia Ridgeway deposits clearly demonstrates the significant scale of the opportunity.
“The Yarindury Project is complementary to the advanced exploration at our Durnings Project. The recent exciting exploration results at Durnings will be followed up as quickly as possible, once access to the project is re-established following recent heavy rainfall in late June.”
The Yarindury Project lies along the northernmost extension of the Molong Volcanic Belt, which has several distinctive, interleaved, magnetic, and non-magnetic geophysical strips that can be traced for more than 200km to the south.
In the southwest corner of the Yarindury licence there is a 2km diameter, high-amplitude, complex, annular magnetic anomaly. This anomaly represents the primary exploration target within the project area.
Talisman Mining says annular magnetic anomalies are associated with copper-gold stock-work mineralised aureoles developed around less magnetic and altered, vertical, porphyry pipe intrusions.
The company views this anomaly as a “high-quality” buried porphyry copper-gold target with very “large” tonnage potential.
Talisman Mining is an Australian mineral developer and explorer focused on gold and base metals. The company owns the Lachlan Project in New South Wales and the Mabel Creek Project in South Australia.
The company is exhibiting at the Diggers & Dealers Mining Forum, which is being held in Kalgoorlie, Western Australia from 5-7 August.
Mining.com.au will also be attending this year’s forum.
Write to Aaliyah Rogan at Mining.com.au
Images: Talisman Mining
