The Springfield Project comprises a 324km2 tenement package located immediately to the east of Sandfire Resources NL’s DeGrussa Copper-Gold Mine in the northern Murchison Goldfields region of Western Australia.
The Springfield Project is prospective for Volcanogenic Massive Sulphide (VMS) copper-gold mineralisation, and is being explored under a Joint Venture agreement with Sandfire Resources (please refer to the Springfield Joint Venture for more details).
In addition to the recent Monty discovery and its maiden Mineral Resource, previous exploration activities conducted by both Talisman and Sandfire have confirmed that the Springfield Project contains interpreted extensions of the volcanic rock package that hosts the DeGrussa VMS deposits, making it a key target for new VMS discoveries in the Doolgunna region.
The work conducted to date at Springfield has identified four prospective VMS corridors:
Talisman’s Springfield Projects subject to the Joint Venture with Sandfire overlaid on the interpreted DeGrussa Mine Corridor and regional geology
Following the execution of the Exploration Farm-in Joint Venture Agreement, Talisman provided a copy of its extensive, high-quality Doolgunna Project datasets to Sandfire. The integration of Talisman’s and Sandfire’s datasets has resulted in the delineation of a combined 65km strike length of prospective VMS horizon across the combined Talisman and Sandfire tenements, providing a significantly expanded search horizon for potential new copper-gold deposits (see Figure above).
Activities to Date
Recent exploration work has focused on the resource definition drilling of the Monty discovery, where deep diamond and reverse circulation drilling was conducted to establish the size and scale of the mineralised system and culminated in the maiden Mineral Resource estimate of 1.05Mt @ 9.4%Cu & 1.6g/t Au1.
Other exploration activities undertaken at the Springfield Project to date include:
- Detailed Aircore (AC) drilling across the Homer trend and the wider Springfield Project;
- High-powered geophysical surveys including fixed loop electromagnetic (FLEM) and selective high-energy down-hole electromagnetic (DHEM) surveys across Homer and wider prospective DeGrussa host horizon at Springfield;
- Re-assaying of pulp samples originally obtained by Talisman for detailed low detection level multi-element analysis;
- Reverse Circulation (RC) drilling designed to test geochemical targets identified in AC drilling programs; and
- Drill testing of interpreted stratigraphies similar to those which host the Monty massive sulphide lenses along the north-east Monty Trend and at Homer;
The discovery and delineation of the high-grade Monty Deposit opens up a highly prospective new corridor with excellent potential for additional VMS discoveries and has provided invaluable information and insights which will help to refine and target ongoing exploration programs.
Future exploration work will focus on improving the understanding of the geological interpretations for the Homer, Monty, Central Corridor and Southern Volcanics prospects.
1Information that relates to the Monty JORC 2012 compliant Mineral Resource estimate is information previously published by Sandfire Resources NL (“Sandfire”) and is available on the Sandfire and ASX websites (see announcement “Maiden High-Grade Mineral Resource for Monty VMS Deposit: 99,000t of Copper and 55,000oz of Gold”, dated 13 April 2016 (Sandfire Announcement)). For full details of the Monty Resource estimate, including the Competent Person’s Statement related to the estimation of the Monty Mineral Resource, please refer to the Sandfire Announcement.
Talisman confirms that it is not aware of any new information or data that materially affects the information included in the Sandfire Announcement, and that all material assumptions and technical parameters underpinning the estimates in the Sandfire Announcement continue to apply and have not materially changed and confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original Sandfire Announcement.