SECOND HIGH-GRADE ZONE DISCOVERED AT DURNINGS

New Zone Unveiled 400 Metres Northeast of Previous Intercepts

Talisman Mining Limited (ASX: TLM) has reported further significant assay results from Stage 2 follow-up exploration at the Dunnings Prospect, part of its 100%-owned Lachlan Project in central NSW.

Northern Dunnings

Diamond drilling in the northern Dunnings area has identified a second significant zone of high-grade gold and copper mineralisation, with hole DRDD0023 returning high-grade assays from an area 400m north-east of the previously reported copper, gold, and base metal intercepts in holes DRRCD0006 and DRRCD0019. Notable results include:

  • 4m at 12.6g/t Au, 11.4g/t Ag, 0.5% Cu, 0.4% Pb, 0.6% Zn from 90m, including:
    • 1m at 44.4g/t Au, 29.0g/t Ag, 1.1% Cu, 0.5% Pb, 0.6% Zn
  • 13m at 1.35g/t Au, 18.1g/t Ag, 0.3% Cu, 2.7% Pb, 0.3% Zn from 65m, including:
    • 7m at 2.79g/t Au, 31.4g/t Ag, 0.5% Cu, 4.9% Pb, 0.5% Zn
  • 1m at 12.2 g/t Au, 47.4g/t Ag, 2.3% Cu, 1.6% Pb, 1.0% Zn

Additionally, hole DRRCD0019 returned assays including:

  • 24.8m at 4.58g/t Au, 30.1g/t Ag, 1.0% Cu, 4.3% Pb, 0.8% Zn from 374m

Confirmation of this second high-grade mineralised zone further reinforces a major greenfields base and precious metals discovery at Dunnings.

Southern Dunnings

Follow-up drilling in the southern Dunnings area intersected broad zones of low-grade mineralisation, with sporadic zones of higher-grade mineralisation. Analysis of the drill core indicated these holes were drilled at a sub-optimal orientation to intersect the previously reported higher-grade zones.

Down-hole Electromagnetic (DHEM) surveys of these drill holes have highlighted multiple conductor plates of varying strengths at southern Dunnings. Detailed modelling of the DHEM data, with respect to structural data collected from the drill core, is underway and will help guide the next round of exploration.

Management Comment

Talisman’s Managing Director, Andrew Munckton, said:

Our Stage 2 drilling program at Dunnings is continuing to deliver excellent results, with the discovery of a second high-grade zone of mineralisation in the northern part of the prospect area providing further evidence that we have a new greenfields discovery on our hands.

Importantly, the new copper-gold and base metal results in DRDD0023 are located 400 metres away from the original discovery hole DRRCD0006 and the spectacular intercepts in DRRCD0019. This shows that we have several mineralised positions at Dunnings with the potential for exceptional grades over a considerable area in multiple locations.

At Southern Dunnings, analysis of our recent drill core suggests we have drilled at a sub-optimal orientation to test the high-grade zone – which would explain why the remainder of the Stage 2 drilling returned broad zones of low-grade mineralisation with sporadic high grades.

DHEM surveys from this area have outlined a number of conductor plates of varying strength that are associated with known high-grade zones and give us confidence in the potential to extend this high-value mineralisation with further drilling.

Collectively, these results give us strong momentum as we prepare for the next phase of exploration at Dunnings. Drilling is scheduled to re-commence in mid-June subject to the receipt of approvals.

The Cobar Basin has been delivering significant exploration news at a number of locations lately and Talisman is pleased to be at the forefront of a new wave of discoveries for the region with our emerging discoveries at Dunnings and Rip N Tear. The next few months should be an exciting time for our shareholders.

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