Talisman Mining Limited is an Australian mineral development and exploration company. The Company’s aim is to maximise shareholder value through exploration, discovery and development of opportunities in base and precious metals.
Talisman Mining Limited (ASX:TLM) is an Australian mineral development and exploration company. The Company’s aim is to maximise shareholder value through exploration, discovery and development of opportunities in base and precious metals.
Talisman holds a 30% interest in the Springfield Joint Venture (Springfield) with Sandfire Resources NL (70% and JV manager). Springfield is located in a proven Volcanogenic Massive Sulphide province in Western Australia’s Bryah Basin and contains multiple prospective corridors and active exploration activities. Springfield hosts the high-grade Monty Copper-Gold deposit (Monty) which is located 10 kilometres from Sandfire’s DeGrussa operations. Monty is one of the highest-grade copper-gold discoveries made globally in recent decades and a Feasibility Study on its development was completed in March 2017. The Feasibility Study highlighted the strong technical and financial viability of Monty and as a result, the Joint Venture partners have approved to proceed to development.
The box-cut development at Monty commenced in July 2017 and is now complete. Mining contractor Byrnecut Australia Pty Ltd has mobilised to site and commenced work on the portal and decline. First ore production and delivery from Monty remains on track for the December quarter 2018. When in production, Monty will be one of the world’s highest grade copper mines and is expected to deliver strong financial returns.
Talisman Mining Limited (Talisman or the Company) advises that it has executed a Facility Agreement with Taurus Mining Finance Fund (Taurus). The Facility Agreement enables Talisman to fully fund its A$22 million share of forecast pre-production capital costs for the development of the Monty Copper-Gold Project (Monty or the Project).
Talisman has secured tenements in the Cobar/Mineral Hill region in Central New South Wales through the grant of 100% owned exploration licences and through separate earn-in joint venture and tenement purchase agreements. The Cobar/Mineral Hill region is a richly mineralised district that hosts several base and precious metal mines including the CSA, Tritton and Hera/Nymagee mines. This region contains highly prospective geology that has produced many long life, high-grade mineral discoveries. Talisman has identified a number of areas within its own and Joint Venture tenements that show evidence of base and precious metals endowment which have had very little modern systematic exploration completed to date. Talisman believes there is a significant potential for the discovery of substantial base metals and gold mineralisation within this land package.
Talisman also holds 100% of the Sinclair Nickel Project (Sinclair) located in the world-class Agnew-Wiluna greenstone belt in WA’s north-eastern Goldfields. The Sinclair nickel deposit, developed and commissioned in 2008 and operated successfully before being placed on care and maintenance in August 2013, produced approximately 38,500 tonnes of nickel at an average life-of-mine head grade of 2.44% nickel. Sinclair has extensive infrastructure and includes a substantial 290km2 tenement package covering more than 80km of strike in prospective ultramafic contact within a 35km radius of existing processing plant and infrastructure. Talisman is continuing to actively explore this tenement package to identify significant new nickel discoveries.
(Further details on all projects are available in the Projects Section of this website.)