Talisman Mining (ASX: TLM) has commenced drilling at its Walkers Hill project in central New South Wales, targeting both an extensive gold-in-soil geochemical trend and a strong anomaly. The company is undertaking an initial six-hole reverse circulation (RC) drilling program at the new Sheepyard prospect, where previous limited 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.
Talisman is following up on results from exploration undertaken since 2000 to understand the mineralisation in the area. Managing director Andrew Munckton noted the targets were identified through geological work, stemming from a review of geological, geochemical, and geophysical data across the Canbelego Mineral Hill Volcanic Belt. He added that the targets combine anomalous soil geochemistry, strong geophysics, significant historical drilling results, and a lack of modern exploration, indicating a potentially extensive mineralised system.
Elsewhere, Talisman is awaiting results from a recent geophysical survey completed at the Yarindury project, located approximately 30km northeast of Dubbo. The program targeted strong magnetic anomalies in the southeastern portion of the tenement, where drilling suggests shallower basement depths than previous drilling earlier this year. The company hopes to define compelling, shallower drill targets for RC and diamond drilling in the September quarter.
Talisman Mining is an Australian resources company focused on the exploration and development of mineral projects. The company also conducted a 1,366-metre drilling program at its Mabel Creek project in South Australia and a geochemical survey at East Peak Hill in NSW. Talisman remained well-funded with $4.49 million cash on hand, including $1.58 million in royalty receipts from the Wonmunna iron ore project, which has contributed a total of $31.3 million since production began in March 2021.
