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Talisman Mining extends drilling at Lachlan Project, diamond drilling in January

Five prospects are being tested with RC drilling with diamond drilling to follow, a steady flow of assays is expected.

Talisman Mining Ltd - Talisman Mining extends drilling at Lachlan Project, diamond drilling in January
RC drilling at Lachlan has paused for the holiday break and will recommence in early January

Talisman Mining Ltd (ASX:TLM) has extended its ongoing RC drilling program at prospects within its Lachlan Project in NSW.

Drilling is testing five gold-in-soil anomalies and the extension to the program will see an additional 1,000 metres drilled.

Results have been received for one of the five anomalies being Hardings where results returned low-level gold of up to 1-metre at 0.62 g/t gold.

Drilling continues at the other prospects and assays remain pending with results from the Brooklyn anomaly expected next.

Talisman also intends to undertake a program of downhole electromagnetic surveys (DHEM) on completion of the drill program and receipt of assay results.

Diamond drilling and DHEM surveys to follow

Diamond drilling will commence in January following the RC drilling to test extensions to the Blind Calf-Sunbars copper lode.

Talisman has now received approval to drill three new diamond holes for 800 metres from existing drill pads where the previous deep RC drill holes failed to intersect the targeted positions.

In addition to the diamond drilling, Talisman plans to drill 650 metres of R/diamond to test any DHEM conductors identified from previous geophysical surveys.

Board member buys shares

Recently, Talisman’s non-executive director Peter Benjamin purchased 101,093 shares in the company through on-market trades.

The $9,927 purchase was completed at an average purchase price of 9.82 cents per share.

Benjamin is an experienced geologist who has worked in the mining industry for more than 40 years, predominantly in senior exploration, project, operational and executive management roles.

Well-funded to explore NSW projects

After two successful project divestments, Talisman is well funded to explore its Lachlan Copper-Gold Project and Lucknow Gold Project in New South Wales.

With a cash balance of $17.5 million at the end of October 2019, Talisman is well funded to carry out planned drill programs at both projects.

Quick facts: Talisman Mining Ltd

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ASX:TLM
Market: ASX
Market Cap: $14.37 m
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Full interview: Talisman Mining sets the scene for 2020 with key position...

Talisman Mining Ltd (ASX:TLM) managing director Dan Madden updates Proactive on the company’s highlights for 2019 and provides a review of its corporate snapshot, which includes strong assets and financial position leading into 2020. Madden said drilling was underway at the company’s Lachlan...

on 5/12/19

2 min read