Talisman confirms VMS mineralising at Halloween

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THE DRILL SERGEANT: Talisman Mining has announced that initial results from recently completed diamond drilling at its Halloween Project, located 11.5 kilometres south-west of the high-grade DeGrussa VMS Copper Project in WA, have provided strong evidence of the presence of a VMS mineralising system.

The drilling results have returned a series of significant high-grade gold, copper and silver assays, including individual intersections of up to 9.79 grams per tonne gold and 2.62 per cent copper.

“The combination of high-grade gold, silver and copper intercepts, significant pathfinder elements and the geology we are seeing in the drill core gives us great encouragement that we are in the right location and applying the correct techniques and approach to make a potential discovery,” said Talisman’s managing director, Gary Lethridge in a company announcement to the Australian Securities Exchange.

Halloween Drilling Update

Three diamond drill holes were recently completed to:

    •    test the prospective volcanic horizon for VMS mineralisation associated with the high-grade gold 
intercepts below HRC002; and

    •    target a late-time Fixed Loop electromagnetic (FLEM) anomaly located 250 metres along strike and to 
the west of HRC002.

The better gold and silver results are associated with sulphide bands in HWD004 and include:  

 •    4 metres at 5.34 grams per tonne gold, 3.12 g/t silver from 297 metres (including 1 metre at 9.79 grams per tonne gold, 6.54 grams per tonne silver from 299 metres);

    •    1m at 2.04 g/t gold from 288 metres;

    •    1m at 1.11 g/t gold from 281 meters; and

    •    2m at 0.99 g/t gold from 253 metres.

 

Simplified geological plan with drill hole locations showing significant mineralised intercepts. Source: Company announcement

In addition to copper, gold and silver, the zinc, selenium, tellurium, molybdenum and bismuth values are consistently elevated, consistent with the geochemical signature associated with the nearby DeGrussa VMS high grade copper- gold deposit.

Talisman is farming into a 60 per cent joint venture interest in the Halloween West JV Copper Gold Project from Chrysalis Resources.

Halloween West is located immediately to the west of the 100 per cent-owned Halloween Project and is interpreted to host the continuation of the Halloween VMS trend.

Talisman has recently completed a detailed 100m x 25m soil geochemical program (totalling 1,455 samples) covering the portion of the Halloween West JV Project immediately along strike of the Halloween VMS horizon with assay results from this program pending.

The company will shortly undertake detailed geological mapping and an extension of the Halloween FLEM survey at Doolgunna West in order to better define prospective stratigraphic horizons across the project and to assist in targeting future RC drilling later this year.