Announcement PDF ASX: TLM | 23 April 2025 ASX Announcement March 2025 Quarterly Activities Report Maiden drilling program completed at the Mabel Creek IOCG Project in South Australia; Drilling completed at Durnings and Durnings East in NSW Highlights: Mabel Creek IOCG Project, South Australia • 3-hole, 1,367m mud rotary (MR) and diamond drilling (DD) exploration program completed. • Drilling is designed to test several large, near-coincident gravity and magnetic targets (IOCG style) along an interpreted E-W oriented fault. Lachlan Copper-Gold Project, New South Wales • 2,540m, 6-hole Reverse Circulation (RC) and diamond drill program completed at Durnings Prospect, with all holes intersecting target zones within the polymetallic mineralised system. • Base Metals Zone1 o DRDD0025 – 2.46m at 6.2% Pb+Zn, 6.8g/t Ag, 0.01% Cu from 297m and 6.48m at 2.6% Pb+Zn, 4.3g/t Ag, 0.01% Cu and 0.04g/t Au from 283.52m. o DRDD0026 – 1.9m at 3.56% Pb+Zn, 13.9g/t Ag, 0.43% Cu and 0.22g/t Au from 272m. • Copper-Gold Zone1 o DRDD0027 – 1.9m at 2.9g/t Au, 0.80% Cu, 1.09% Pb+Zn and 9.33g/t Ag from 442m. o DRRCD0028 – 14.5m 0.31g/t Au, 0.31 g/t Ag, 0.12 % Cu from 487.7m. o DRDD0029 – 28m at 0.32g/t Au, 0.07% Cu, 0.27% Pb+Zn,1.06g/t Ag from 156m and 17m at 0.38g/t Au, 0.22% Cu, 0.18% Pb+Zn, 1.47g/t Ag from 192m. • 3,114m, 16-hole RC drilling program completed at Durnings East. • Ongoing review and prioritisation of Talisman’s pipeline of exploration targets in NSW. Corporate • Royalty cash receipts from the Wonmunna Iron Ore Project of $2.06 million received for the quarter. • Talisman remains well-funded with cash on hand at 31 March of $5.06 million Mabel Creek IOCG Project, South Australia Talisman acquired 100% ownership of the Mabel Creek IOCG Project in June 2023, providing ownership of a significant land package approximately 30km west of Coober Pedy. The land package covers 1,048km2 of strategically located tenure (Figure 1) and spans a major deep-seated east-west trending fault system which is interpreted to host multiple intrusive lithologies, including the Hiltaba Granite Suite within the Gawler Craton. The region is prospective for large-scale Iron Oxide Copper Gold (IOCG) discoveries and hosts numerous world-class deposits such as Olympic Dam, Carrapateena and Prominent Hill as well as significant recent discoveries such as Oak Dam and Emmie Bluff. This region is Australia’s premier copper producing area. 1 ASX: TLM -28 January 2025. Talisman Mining | Suite 1, Ground Floor, 33 Colin St, West Perth 6005 ABN 71079 536 495 talismanmining.com.au 1 Figure 1 – Mabel Creek location plan, highlighting prospect locations along the Gawler Craton IOCG belt. Talisman commenced a first-pass mud rotary and diamond drilling program during the Quarter, comprising three holes for 1,367m of drilling (see Table 1, Figure 2 and Figure 3). The near-coincident gravity/magnetic targets are located beneath post mineral cover, the base of which is indicated by the GSSA seismic line to be between 200m and 300m deep. The first-pass program will test three priority targets that represent strong, near coincident gravity and magnetic anomalies that lie within interpreted basin volcanic rocks below the barren cover that is encountered almost everywhere in the district. Additionally, several other gravity/magnetic targets have been identified within the project area and may be drill tested if the initial drill program is successful. Near coincident gravity and magnetic features are considered classical markers of IOCG mineralised positions throughout the district. Similar features are seen at and led to the discovery of the Prominent Hill IOCG deposit approximately 100km to the south-east of Mabel Creek. At the time of this Quarterly Report, the initial three holes as summarised in Table 1 and illustrated in Figure 2 and Figure 3 over geophysical images have been completed. Samples of diamond drill core have been dispatched for assay with results expected in May 2025. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 2 Exploration Licence Prospect Hole ID Hole Type Easting Northing RL (m) Dip (deg) EOH Depth (m) EL6620 Mabel Creek MCMRD0001 MR/DD 447307 6792989 186 -90 423.7 EL6619 Mabel Creek MCMRD0002 MR/DD 440500 6793167 199 -90 420.8 EL6619 Mabel Creek MCMRD0003 MR/DD 436391 6791795 193 -90 522.1 Table1: Mabel Creek drill hole Summary. Figure 2: Mabel Creek tenure with processed TMI RTP magnetics image. Near coincident Magnetic/Gravity Targets tested by MCMRD0001 to MCMRD0003 sit adjacent to the interpreted E-W oriented faulting. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 3 Figure 3: Mabel Creek tenure with processed Gravity image. Near coincident Magnetic/Gravity Targets tested by MCMRD0001 to MCMRD0003 sit adjacent to the interpreted E-W oriented faulting. Lachlan Copper-Gold Project, NSW The 100%-owned Lachlan Project spans the Canbelego-Mineral Hill Volcanic Belt between Condobolin and Canbelego in NSW and is prospective for large-scale porphyry copper-gold and Vein and VMS style copper-lead-zinc-silver deposits (see Figure 4). Durnings The Durnings Prospect is located approximately 25km north of Condobolin and 35km south-east of the Rip N Tear discovery within the Lachlan Project area. Durnings is a lightly explored project defined by strongly anomalous base metal soil geochemistry and contains two large, coherent conductive GAIP anomalies located along strike from and to the east of previous RC drilling results returned from earlier exploration by Talisman Mining (see ASX announcement 15 May 2023). The prospect is situated within a complex structural setting associated with NNW trending faults interpreted to be part of the Mineral Hill Fault Zone, which provides a pathway for mineralised fluids to move upwards from deeper local granite intrusions. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 4 Figure 4 – Durnings Prospect location plan highlighting prospect locations along the Eastern Cobar Basin. Highgrade base metals and copper-gold deposits in the belt include CSA, Peak, Hera, Federation and Mineral Hill. Other Talisman tenure in the area (to the east and south-east of Cobar and north of Condoblin) is also shown. Talisman completed a 2,540m, 6-hole Reverse Circulation (RC) and diamond drill program at the Durnings Prospect in January 2025, with all holes intersecting target zones within the polymetallic mineralised system. Assay results included: Base Metals Zone1 • DRDD0025 – 2.46m at 6.2% Pb+Zn, 6.8g/t Ag, 0.01% Cu from 297m down-hole and 6.48m at 2.6% Pb+Zn, 4.3g/t Ag, 0.01% Cu and 0.04g/t Au from 283.52m down-hole. • DRDD0026 – 1.9m at 3.56% Pb+Zn, 13.9g/t Ag, 0.43% Cu and 0.22g/t Au from 272m downhole. Copper-Gold Zone1 • DRDD0027 – 1.9m at 2.9g/t Au, 0.80% Cu, 1.09% Pb+Zn and 9.33g/t Ag from 442m down-hole. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 5 • DRRCD0028 – 14.5m 0.31g/t Au, 0.31 g/t Ag, 0.12 % Cu from 487.7m down-hole. • DRDD0029 – 28m at 0.32g/t Au, 0.07% Cu, 0.27% Pb+Zn,1.06g/t Ag from 156m and 17m at 0.38g/t Au, 0.22% Cu, 0.18% Pb+Zn, 1.47g/t Ag from 192m down-hole. • DRDD0030 – 9m at 0.04g/t Au, 0.01% Cu, 2.37% Pb+Zn, 3.46g/t Ag from 144m down-hole including 1.2m at 0.13g/t Au, 0.09% Cu, 9.91% Pb+Zn and 9.3g/t Ag from 151m down-hole DRRCD0025 and DRDD0026 intersected the galena-sphalerite-silver rich horizon approximately 50 metres down-dip of the strong base metal intercepts in the discovery hole DRRCD0006 and DRRCD0019 (Figure 5). Holes DRDD0027 and DRRCD0028, drilled up and down-dip of a chalcopyrite-gold rich zone discovered by DRCCD0019, intersected narrow high-grade intervals extending the mineralised copper-gold zone up and down dip (Figure 6). Holes DRDD0029 and DRDD0030 targeted the Durnings North copper-gold zone. DRDD0029 and DRDD0030 intersected broad zones of low-grade mineralisation with narrower high-grade lenses along strike and down dip from the discovery hole DRRC0001 and DRRCD0023 (Figure 7 and Table 2). Figure 5: Durnings Prospect showing Offset PDIP Survey chargeability (LHS) and resistivity (RHS) at 260m below surface. The chargeability and resistivity responses in the images correspond to the position of the intersection of the Copper-Gold Mineralised Trend and the Base Metals Mineralised Trend at Durnings. Note the position of drill holes DRDD0025, DRDD0026, DRRCD0027, DRRCD0028, DRDD0029 and DRDD0030 drilled to test the mineralisation perpendicular to the trend interpreted from geophysics.1 1 ASX: TLM -28 January 2025. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 6 Figure 6: Durnings South Cross section B-B’ refer Figure 5.1 Figure 7: Durnings North Cross Section A-A’ refer Figure 5.1 T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 7 Detailed geological and structural analysis of the higher-grade mineralisation within the broader low grade NE trending mineralised zones has been undertaken to identify further extensions capable of providing potentially economic mineralisation. Durnings East At Durnings East a 3,114m, 16-hole program of broad spaced RC drilling was completed during the quarter to test Gradient Array Induced Polarisation (GAIP) geophysical anomalies located approximately 1km north north-east of the Durnings mineralised positions. See Table 3 for Summary details of the drilling. The drilling confirmed the near surface GAIP anomalies were the result of pyrite alteration and that only minor mineralised intersections were returned from the assay results. No further work is planned at the Durning East prospect. Yarindury Porphyry Copper-Gold Project, NSW EL 9679, named the “Yarindury Project”, is located 30km east of Dubbo in the Macquarie Volcanic Arc of central-western NSW (Figure 8). Yarindury contains a number of porphyry-style magnetic targets with confirmed prospective geology and copper-gold anomalism. The Yarindury Project lies in the same highly prospective geological and mineralised belt as Alkane Resources’ (ASX: ALK) Boda-Kaiser Project (located 20km to the south-east), which currently contains a Mineral Resource of 8.3Moz of contained gold and 1.5Mt of contained copper.2 In addition, Yarindury displays rock units and geophysical anomalies similar to Newmont’s (NYSE: NEM) Cadia deposit (located 100km to the south), one of Australia’s largest gold and copper mining operations with Ore Reserves of 17Moz of gold and 3.6Mt of copper.3, 4 Talisman commenced its maiden exploration program at Yarindury on 30 September testing buried, large-scale geophysical anomalies. The drilling program will initially comprise up to five drill-holes. The first diamond drill-hole, YRMRDD0001, has been completed to a depth of 562.7m. The hole intersected the overlying Surat Basin sediments for its entire length before being terminated, indicating that the underlying basement rocks containing the magnetic anomaly target lies deeper. Approximately 2km north-east of YRMRDD0001, basement depth is 215m, as indicated by drill hole MEMD0001 completed by Newcrest in 2017. Talisman is planning a further geophysical survey over other areas at the project to establish targets worthy of drill testing. The additional geophysical survey is scheduled to be undertaken in the June Quarter, with drilling potentially commencing resuming in the September 2025 Quarter. The location of the Yarindury Project is shown in Figure 8 and drill-hole locations are shown in Figure 9. 2 See ALK ASX Announcements dated 14 December 2023 and 29 April 2024. 3 https://operations.newmont.com/australia/cadia The existence, size and grade of the Mineral Resource Estimates at Boda/Kaiser and Ore Reserve estimate at Cadia does not guarantee that such deposits are discoverable at the Yarindury project and TLM has not done sufficient work yet in order to be able to classify its own MRE at the project. 4 T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 8 Figure 8: Yarindury Prospect location plan highlighting prospect locations along the Molong Volcanic Belt. Porphyry copper-gold deposits in the belt include Cadia-Ridgeway, Copper Hill, Junction Reefs and Boda-Kaiser. Other Talisman tenure in the area (to the north, south and east of Parkes in the Junee Narromine Volcanic Belt) is also shown.2 T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 9 Figure 9: Yarindury target over processed magnetics image. Gravity contours are illustrated in white lines. TLM drill-hole YRMRDD0001 location indicated. The 2.0km diameter strong magnetic feature along the western margin of the Molong Volcanic Belt is the primary target. Historical drill-hole, GCYAR001 (blue circle) did not penetrate the overlying barren sediments.2 Corporate Iron Ore Royalty During the quarter, Talisman received $2.06 million in royalty payments from iron ore sales that occurred between 1 December 2024 and 28 February 2025 from Wonmunna Iron Ore Pty Ltd (Wonmunna), a wholly owned subsidiary of Mineral Resources Limited (ASX: MIN), the owner and operator of the Wonmunna Iron Ore Mine (WIOM) in the Pilbara region of Western Australia. The iron ore royalty receipts for the current quarter reflect the impact of moderating global iron ore pricing on WIOM sales made during the quarter offset by favourable $A: $US exchange rates and higher than average shipping volumes from Wonmunna. Based on the FY25 production guidance provided by MIN for its Pilbara Hub of 9.0- 10.0Mt (wet), Talisman believes Wonmunna sourced shipments are likely to be maintained at approximately 50% of Pilbara Hub production. Since the commencement of iron ore production at the WIOM in March 2021, total royalty payments of $29.7 million have been received by Talisman as at the date of this announcement. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 10 New Project Opportunities The Company continued to review potential growth opportunities in Australia and elsewhere. Talisman continues to adopt a judicious approach to the review of all growth opportunities to ensure only value-accretive transactions that have the potential to create long-term shareholder value are pursued. Cash Balance At 31 March 2025, Talisman had $5.06 million cash available for its operating and investing activities. Expenditure on mining exploration activities In accordance with ASX Listing Rule 5.3.1, the Company advises its exploration and evaluation expenditure during the March 2025 quarter totalled $2.09 million. This amount is included at Item 1.2(a) of the Appendix 5B and relates to activities undertaken on the Company’s Lachlan CopperGold, Yarindury Copper-Gold and Mabel Creek IOCG Projects. Expenditure during the quarter included RC drilling, diamond drilling, assaying, geophysical surveying, geological mapping activities, tenement management, and exploration activity planning. Payments to related parties of the entity and their associates In accordance with Section 6.1 of the March 2025 Quarter Appendix 5B, Talisman provides the following in relation to payments made during the quarter to related parties: Description $A’000 Explanation Directors Fees 161 Short term and post-employment benefits paid to non-executive directors. –– Ends –– For further information, please contact: Andrew Munckton - Managing Director +61 4 3563 5598 Nicholas Read (Media inquiries) +61 4199 29046 This release has been authorised by the Board of Talisman Mining Limited. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 11 HOLE ID DRDD0030 DRDD0030 DRDD0030 DRDD0030 DRDD0030 DRDD0030 DRDD0030 DRDD0030 DRDD0030 DRDD0030 DRRC0033 Type Fresh Fresh Fresh Fresh Fresh Fresh Fresh Fresh Fresh Fresh Oxide FROM TO 95 144 151 154.91 170.45 182 208 224 243 247 38 95.52 153 152.2 156 171 184 210 225 244 248 39 Width Au ppm Ag ppm 1 9 1 1 1 2 2 1 1 1 1 0.37 0.04 0.13 0.05 0.02 0.01 0.05 0.11 0.05 0.22 0.71 1.12 3.46 9.30 4.23 0.76 0.93 1.14 1.51 1.69 0.74 4.22 Cu % Pb % Zn % PbZn % 0.19 0.01 0.09 0.03 0.01 0.00 0.01 0.05 0.33 0.05 0.00 0.01 0.64 3.12 1.58 0.28 0.41 0.55 0.47 0.02 0.01 0.00 0.03 1.74 6.79 1.80 0.47 0.65 1.13 1.03 0.02 0.02 0.00 0.03 2.37 9.91 3.38 0.75 1.05 1.67 1.50 0.04 0.03 0.00 Intercept Cut Off Au>0.2g/t & Cu>0.2% PbZn>1% Ag>5g/t PbZn>1% PbZn>1% PbZn>1% PbZn>1% PbZn>1% Cu>0.2% Au >0.2g/t Au >0.2g/t Table 2: Durnings Significant Intercepts. Exploration Licence Prospect Hole ID EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 EL 8680 East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings East Durnings DRRC0031 DRRC0032 DRRC0033 DRRC0034 DRRC0035 DRRC0036 DRRC0037 DRRC0038 DRRC0039 DRRC0040 DRRC0041 DRRC0042 DRRC0043 DRRC0044 DRRC0045 DRRC0046 Hole Type Easting RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC 505928 506031 506137 506245 506074 506138 506341 506240 506435 506323 505799 505782 506074 506217 505925 505936 Northing RL (m) 6387065 6387018 6386971 6386894 6386865 6386804 6386713 6386755 6387304 6387314 6387477 6386703 6387447 6387315 6387502 6386331 288 286 284 281 285 283 278 280 274 277 281 289 280 279 281 285 Dip (deg) Azimuth (MGA) EOH Depth (m) -55 -56 -56 -57 -56 -56 -56 -56 -56 -56 -56 -60 -56 -55 -56 -55 115 114 115 115 113 117 114 115 97 95 93 138 96 96 97 101 203 204 204 204 186 246 204 203 199 131 191 161 173 199 203 203 Table 3: Durnings East drill hole Summary. About Talisman Mining 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 complementary opportunities in base and precious metals. Talisman has secured tenements in the Cobar/Mineral Hill region in Central NSW through the grant of its own Exploration Licenses and through a joint venture agreement. 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 several areas within its Lachlan Cu-Au Project 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 significant potential for the discovery of substantial base metals and gold mineralisation within this land package and is undertaking active exploration to test a number of these targets. Talisman also has secured access to over 1040 km2 of highly prospective tenure in South Australia’s Gawler Craton known as the Mabel Creek Project. Mabel Creek is prospective for large scale Iron Oxide Copper Gold (IOCG) deposits and intrusion related rare earths and battery metals mineralisation. Mable Creek is surrounded by similar tenure owned and being actively explored by Australia’s biggest resource companies including BHP, Rio Tinto and FMG. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 12 Competent Person’s Statement Information in this announcement that relates to Exploration Results and Exploration Targets is based on and fairly represents information and supporting documentation compiled by Dr Tim Sharp, who is a member of the Australasian Institute of Geoscientists. Dr Sharp is a full-time employee of Talisman Mining Ltd and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Sharp has reviewed the contents of this announcement and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which they appear. Forward-Looking Statements This ASX release may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Talisman Mining Ltd.’s current expectations, estimates and assumptions about the industry in which Talisman Mining Ltd operates, and beliefs and assumptions regarding Talisman Mining Ltd.’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. Forwardlooking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties, and assumptions, some of which are outside the control of Talisman Mining Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forwardlooking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Talisman Mining Ltd does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions, or circumstances on which any such forward looking statement is based. T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 13 Appendix 1 Talisman Tenement Holdings EL8615 (356km2) 100% 100% - - EL8659 2 (373km ) 100% 100% - - EL8677 2 (193km ) 100% 100% - EL8414 (174km2) 89% 89% - - Peel Mining Ltd EL8547 (205km2) 100% 100% - - N/A EL8571 2 (258km ) 100% 100% - - EL8658 (256km2) 100% 100% - - EL8680 (20km ) 100% 100% - - EL8719 2 (191km ) 100% 100% - - EL9298 (440km2) 100% 100% - - EL9299 (199km2) 100% 100% - - EL9302 2 (108km ) 100% 100% - - EL9306 (103km2) 100% 100% - - EL9315 (108km2) 100% 100% - - EL9379 2 (878km ) 100% 100% - - EL9462 (6km ) 100% 100% - - ELVIS PROJECT 2 2 New South Wales EL8977 (463km2) 100% 100% - - EL9395 (75km ) 100% 100% - - EL9396 (229km2) 100% 100% - - HILLSTON PROJECT N/A 2 N/A New South Wales EL8907 (372km2) 100% 100% - - EL9394 (399km2) 100% 100% - - N/A 0% - Surrendered N/A 51% - - DANDALOO PROJECT EL9324 LUCKNOW PROJECT EL6455 New South Wales (474km2) 100% New South Wales (29km2) 51% Lucknow Gold Ltd T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 14 MACQUARIE PROJECT New South Wales EL9630 (356km2) 100% 100% - - EL9678 (343km2) 100% 100% - - EL9679 2 (180km ) 100% 100% - - EL 9701 2 (227km ) 100% 100% - - EL 9702 (317km2) 100% 100% - - MABEL CREEK PROJECT N/A South Australia EL6619 (519km2) 100% 100% - - EL6620 (319km2) 100% 100% - - EL6627 (210km ) 100% 100% - - 2 N/A T: +61 8 6315 3500 info@kinetiko.com.au talismanmining.com.au 15 Appendix 2 JORC Tables Section 1 & 2 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections) Criteria Sampling techniques Drilling techniques JORC Code explanation • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down-hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. • Drill type (e.g. core, reverse circulation, openhole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Commentary • • • • • • • • • • T: +61 8 6315 3500 RC Drilling samples are collected at either one metre or two metre intervals via a drill rig mounted cyclone and static cone splitter set to a 12% split to produce a nominal 4-7kg sample which are collected in a pre-numbered sample bag. RC samples undergo routine 2 metre composite pXRF analysis using an Olympus Vanta M-series to aid in logging and identifying zones of interest. Diamond drill core samples, either PQ, HQ3 or NQ2 in size diameter, are either cut in half longitudinally or a quarter longitudinally, using an automated Almonte core saw with core placed in boats, holding the core in place. Core sample intervals varied from 0.2 to 1.3m in length but were predominantly aligned to 1m intervals or with sample boundaries which respected geological contacts. Sampling is controlled by Talisman protocols and QAQC procedures as per industry standard and a chain of custody maintained through transfer to ALS Laboratories in Adelaide, SA. RC/DD samples are dried, crushed (where required), split and pulverised (total prep) to produce a master pulp. From this master pulp, a 0.25g sub sample was taken for multielement analysis by four acid digest with an ICP-MS finish. A 50g sub sample was also taken for fire assay for gold with ICP-AES finish. Mud Rotary (MR) chips will be sampled from sieved 6m composites and will be analysed using a portable XRF. RC drilling cited in this report was undertaken by Strike Drilling Pty Ltd using a LC36 (KWL 700) truck-mounted Reverse Circulation drill rig. A truck-mounted booster and compressor provided high pressure air with an auxiliary compressor used where ground conditions warranted. RC drilling was completed with a face sampling hammer of nominal 140mm size Diamond Drilling cited in this report at the Durnings Project was undertaken by DDH1 Drilling Pty LTD using an Evolution FH3000 or a Multipurpose UDR1200 truck mounted rig. RC components in DRRCD0027 and DRRCD0028 was undertaken by the Multipurpose UDR 1200. Diamond drilling undertaken by DDH1 Drilling Pty Ltd Multipurpose UDR1000 truck mounted rig at Mabel Ck and Yarindury. Mud Rotary drilling was completed through the thick (~200-300m) Mesozoic and/or Palaeozoic cover sequences. Diamond drill tails were undertaken in the basement sequence when intersected. info@kinetiko.com.au talismanmining.com.au 16 Criteria JORC Code explanation Commentary • Drill sample recovery Logging • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged. T: +61 8 6315 3500 Down hole surveys were undertaken approximately every 30m using an Axis north seeking gyro. RC Drilling • RC drill sample recovery is generally high with sample recoveries and quality recorded in the database by the logging geologist • Sample recoveries were monitored in real-time by the presence of Talisman personnel at the drill site. Diamond Drilling • Core recovery data recorded for each run by measuring total length of core retrieved against the downhole interval drilled and stored in the database. TLM representatives continuously monitor core recovery and core presentation quality as drilling is conducted and issues or discrepancies are rectified promptly to maintain industry best standards. RC Drilling • RC logging records lithology, mineralogy, mineralisation, alteration, structure, weathering, colour and other primary features of the rock samples and is considered to be representative across the intercepted geological units. • RC logging is both qualitative and quantitative depending on the field being logged. • All RC drill-holes are logged in full to end of hole. • All RC chip trays are photographed and then stored onsite at the Talisman Condobolin yard. • All information collected is entered directly into laptop computers or tablets, validated in the field, and then transferred to the database. The level of logging detail is considered appropriate for exploration and to support appropriate mineral resource estimation, mining studies, and metallurgical studies. Diamond Drilling (DD) and Mud Rotary drilling (MR) • Logging was carried out on site once geology personnel retrieve core or chip trays from the drill rig site. • Logging records lithology, mineralogy, mineralisation, alteration, str