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Talisman Mining cashed up for 2020 exploration, drilling underway

With the stock last trading at 8.6 cents per share, the company's market cap is fully cash-backed heading into 2020.

Talisman Mining Ltd - Talisman Mining cashed up for 2020
Talisman completed the divestment of the Sinclair Nickel Project in October 2019

Talisman Mining Ltd (ASX:TLM) ended the 2019 calendar year with $16.1 million which is equal to 8.7 cents per share.

During the December quarter, the company was focused on exploration at its Lachlan Copper-Gold Project and Lucknow Gold Project in New South Wales.

Talisman recently completed drilling 16 holes at the Hardings, Brooklyn, Kaolin Shaft and Melrose Gold Prospects within the Lachlan Project.

Assays remain pending for two holes drilled at Melrose.

Talisman aims to undertake a program of selective downhole electromagnetic surveys (DHEM) following receipt of all assay results.

Drilling underway at Blind Calf

Drilling approval was received during the December quarter for three more diamond drill holes at the Blind Calf Copper Prospect.

The three holes will test the down-plunge extension of the high-grade Blind Calf-Dunbars copper lode system mineralisation.

Drilling has now commenced and is anticipated to continue for the next one to two months.

Drilling also planned at Lucknow

Early in January 2020, Talisman secured land access for drilling at its Lucknow Gold Project.

This is a significant process step in preparing for diamond drill testing of the interpreted high-grade extensions of the historical Lucknow Gold Mine.

An application has now been submitted to the state authority with drilling anticipated to commence immediately following the completion of the Blind Calf program.

Quick facts: Talisman Mining Ltd

Price: 0.16 AUD

Market: ASX
Market Cap: $29.86 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