Talisman Mining Launches Extensive Gold Drilling Program at Walkers Hill Project in NSW

Talisman Mining (ASX: TLM) has commenced drilling to test both an extensive gold-in-soil geochemical trend and a strong anomaly at its Walkers Hill project in central New South Wales.

The company is undertaking an initial six-hole reverse circulation (RC) drilling program at the new Sheepyard prospect, where limited historical drilling intersected broad zones of near-surface gold mineralisation up to 40 metres at 0.46 grams per tonne.

Walkers Hill, located approximately 60km northwest of Condobolin, contains the largest gold-in-soil anomaly within the district, spread across an area of approximately 10km by 2.5km.

Previous Exploration Work

Talisman is following up on results from a number of stages of exploration undertaken since 2000 to advance the understanding of the significant mineralisation in the area.

“These targets were identified by some solid geological work by the team, stemming from a detailed review of geological, geochemical, and geophysical data across the Canbelego Mineral Hill Volcanic Belt,” managing director Andrew Munckton said.

“They are characterised by a combination of anomalous soil geochemistry, strong geophysics, significant historical drilling results and a lack of modern exploration.”

“Together, these features indicate a potentially extensive mineralised system within the Walkers Hill Project that represents a stand-out exploration opportunity for the company,” he added.

Recent Geophysical Survey

Elsewhere, Talisman is awaiting results from the recent geophysical survey it completed at the Yarindury project, located approximately 30km northeast of Dubbo.

That program targeted strong magnetic anomalies in the southeastern portion of the tenement, where drilling suggests much shallower basement depths than where Talisman drilled earlier this year.

“We hope to define some compelling, shallower drill targets here that we can test with RC and diamond drilling (DD) in the September quarter,” Mr Munckton said.

Tenement-Wide Review

The newer work at Walkers Hill and Yarindury continues what has been an active recent period in which the company’s main focus has been on its Lachlan projects in NSW, where a tenement-wide review generated multiple gold exploration targets that helped it define the subsequent drilling program at Sheepyard and the surveys at Yarindury.

The company also conducted a 1,366-metre, three-hole DD program targeting magnetic and gravity anomalies at its Mabel Creek project in South Australia, and a 150-hole auger geochemical survey at East Peak Hill in NSW to define gold anomalism for follow-up RC drilling.

The company remained well funded at the end of the reporting period, with $4.49 million cash on hand.

This included $1.58 million in royalty receipts from the Wonmunna iron ore project, which has contributed a total of $31.3m since production began at the site in March 2021.