Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

TALISMAN MINING LIMITED Capital/Financing Update 2024

Aug 5, 2024

65926_rns_2024-08-05_8ba9aa7f-59e0-4776-863e-e464a3e4b9c6.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

ASX: TLM | 6 August 2024

Replacement Announcement

Talisman acquires the Yarindury Porphyry Cu-Au Project in NSW

Talisman Mining Ltd (ASX: TLM , Talisman or Company ) refers to the Company’s announcement dated 5 August 2024 “ Talisman acquires the Yarindury Porphyry Cu-Au Project in NSW ” (“ Announcement ”) .

An updated version of the Announcement is attached, incorporating the following amendments:

  • Inclusion of a Cautionary Statement in relation to the existence size and grade of Mineral Resource and Ore Reserve statements for nearby projects and operations;

  • Inclusion of additional JORC Table disclosures; and

  • Reordering of text previously disclosed within the “Highlights” section to the body of the Announcement.

Authorised for release by:

Alex Neuling

Company Secretary

talismanmining.com.au

1

Talisman acquires the Yarindury Porphyry Cu-Au Project in NSW

Maiden drilling program to commence in the September quarter to test large geophysical anomalies

Highlights:

  • Talisman has been granted Exploration Licence (EL9679) – the “Yarindury Project” – which represents a large porphyry-style copper-gold target, located 30km east of Dubbo in the highly prospective Macquarie Volcanic Arc of NSW.

  • Previous owner Alice Queen in JV with Newcrest, drilled two diamond holes which confirmed the prospective geology and returned anomalous copper mineralisation.

  • Large km scale magnetic geophysical anomalies remain untested.

  • Land access agreement has been signed and an exploration work approval submitted this week to NSW Resources.

  • Initial diamond drilling program comprising up to five holes planned to test large anomalies, with drilling scheduled to commence in August.

Talisman Mining Limited (ASX: TLM, Talisman) is pleased to be granted a new tenement, EL 9679, named the “Yarindury Project”, located 30km east of Dubbo in the Macquarie Volcanic Arc of central-western NSW. 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[1,3] . 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[2,3] .

The existence of, 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.

The Yarindury Project was previously held by Alice Queen Limited, who completed two diamond drill holes (MEMD0001 and MEMD0002) in JV with Newcrest in 2018. MEMD0001 intersected favourable rock units with weakly anomalous copper and gold. However, no drilling has been completed over the largest and strongest amplitude magnetic anomaly on the western boundary of the Molong Volcanic Belt. Yarindury EL 9679 is illustrated in Figure 1 and Figure 2.

  1. See ALK ASX Announcements dated 14 December 2023 and 29 April 2024.
  1. https://operations.newmont.com/australia/cadia

  2. The existence of, 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.

1

talismanmining.com.au

==> picture [423 x 502] intentionally omitted <==

Figure 1 – Yarindury Project location plan highlighting prospect locations along the Molong Volcanic Belt. Porphyry Cu-Au 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

talismanmining.com.au

==> picture [483 x 573] intentionally omitted <==

Figure 2 – Yarindury Prospect EL 9679 over regional magnetics. The elevated magnetic response in the centre of the image is known as the Molong High Volcanic Belt, part of the Macquarie Volcanic Arc. Strong magnetic features within and along the margins of the Molong High Volcanic Belt are excellent exploration targets for porphyry and intrusion related Cu-Au deposits.

3

talismanmining.com.au

Geology and Mineralisation

The Yarindury project is located along the northernmost extension of the Molong Volcanic Belt where it contacts and underlies Surat Basin Mesozoic sediments.

The highly prospective Molong Volcanic Belt comprises a number of distinctive, interleaved, magnetic and nonmagnetic geophysical strips that can be traced for more than 200km to the south. Talisman’s objective at Yarindury is to explore the buried Molong Volcanic basement elements for large-scale porphyry or other intrusion related copper and/or gold deposits.

The Molong Volcanic Belt comprises:

  • i) the Ordovician age volcanic rock package which contains a number of high-level intrusions marked by high-amplitude magnetic geophysical responses; and

  • ii) the adjacent, lesser magnetic Silurian-Devonian age sediments intruded locally by discrete, elliptical-shaped, younger and less prospective magnetic granite batholiths.

Regionally, the Molong Volcanic Belt hosts the world-class Cadia porphyry Cu-Au system (17Moz Au and 3.6Mt Cu[2,3] ), located 100km to the south; the 8.5Moz Au and 1.5Mt Cu[1,3] , Boda-Kaiser discovery of Alkane Resources, located 20km south-east; and a number of other significant porphyry-style prospects including Cargo and Copper Hill. These major porphyry deposits all occur within or around the margins of complex, high-amplitude, sub-volcanic intrusion bearing, magnetic nodes that occur along the belt.

In the south-west corner of the Yarindury licence, on the rim of the Molong Volcanic Belt magnetic complex, lies a large ~2km diameter, high-amplitude, complex, annular magnetic anomaly (Figure 2). This anomaly represents the primary exploration target within the Yarindury Project area. Annular magnetic anomalies are classically associated with Cu-Au stock-work mineralised aureoles developed around less magnetic and/or altered, vertical, porphyry pipe intrusions.

With its highly prospective regional setting, this anomaly is viewed as a high-quality buried porphyry Cu-Au target with very large tonnage potential.

In addition to this primary target, a number of secondary magnetic anomalies are also present within the licence (Figure 2).

Project Background

Previous explorers include Newcrest Mining in JV with Alice Queen Limited and Golden Cross Resources.

Figures 2 and 3 shows where Newcrest/Alice Queen drilled two vertical diamond holes MEMD0001 (total depth 414.2m, depth to basement 215m) and MEMD0002 (total depth 363.4m, depth to basement 250m) in 2017 targeting porphyry intrusion style mineralisation associated with anomalous magnetic features. The holes intersected altered volcanic rocks of likely Ordovician age with weakly anomalous copper mineralisation. Newcrest/Alice Queen planned but did not drill the prominent geophysical feature at Yarindury located on the western side of the Molong Volcanic Belt.

In 2008, Golden Cross, using lower resolution survey data, targeted the main geophysical feature with a single drill hole (GCYAR001) located off the western edge of the anomaly. The hole did not intersect basement rocks, encountering 252m of barren Mesozoic sediments. See Figure 3.

  1. See ALK ASX Announcements dated 14 December 2023 and 29 April 2024.

  2. https://operations.newmont.com/australia/cadia

  3. The existence of, 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

talismanmining.com.au

==> picture [483 x 378] intentionally omitted <==

Figure 3 – Yarindury Target over processed magnetics image. Gravity contours are illustrated in white lines. Proposed TLM drill hole locations illustrated by orange circles. The 2.0 km diameter strong magnetic feature along the western margin of the Molong High Volcanic Belt is the primary target. Historical drill hole location (blue circle) did not penetrate the overlying barren basin sediments.

==> picture [236 x 185] intentionally omitted <==

==> picture [236 x 186] intentionally omitted <==

Figure 4 – Yarindury magnetic anomaly (right) versus Cadia-Ridgeway deposit (left). Processed magnetics image at same scale and colour stretch[3] .

5

talismanmining.com.au

Yarindury – Work Plan and Drill Testing

Talisman Mining has recently signed a landholder access agreement and will submit its exploration application to the NSW Department of Primary Industries and Regional Development early this week.

The proposed maiden exploration program consists of five diamond drill holes targeted at the basement rocks at the large geophysical feature. Additional diamond drilling may be undertaken if initial geological prospectivity and presence of mineralisation is confirmed.

Subject to NSW government approval drilling is scheduled to commence in the September quarter.

Management Comment

Talisman’s Managing Director, Andrew Munckton, said: “The acquisition of the Yarindury Project offers an exciting new addition to our exploration portfolio.

“At a time of strengthening copper and gold prices around the world, this new project offers exploration exposure to the Tier 1 Molong Volcanic Belt, which hosts several major porphyry style copper-gold deposits. Yarindury’s location within the Molong Volcanic Belt and its side-by-side comparison with the world-class Cadia Ridgeway deposits clearly demonstrates the significant scale of the opportunity.

“An initial diamond drilling program is scheduled to commence once NSW government approvals have been secured. Importantly, this initial phase of drilling will provide us with detailed geological context as to the potential style and scale of copper-gold mineralisation associated with the large geophysical anomaly.

“We’re greatly looking forward to drilling this target and will update the market once drilling has commenced.”

“The Yarindury project is complementary to the advanced exploration at our Durnings Project. The recent exciting exploration results at Durnings will be followed up as quickly as possible once access to the project is re-established following recent heavy rainfall in late June.”

–– 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.

6

talismanmining.com.au

Table 1: Drill-hole information summary - Yarindury

Details and coordinates of historical drill holes relevant to this release.

Company Year
Drilled
Hole ID Hole
Type
Easting
MGA
Northing
MGA
RL Dip Azimuth EOH Depth
(m)
Clancey Exploration Ltd 2008 SRC001 RC 688298 6453398 399 -90 0 156
Newcrest Mining Ltd 2017 MEMD0001 DD 685638 6437633 340 -89.2 76.76 414.2
Newcrest Mining Ltd 2017 MEMD0002 DD 687974 6439970 360 -90 0 363.4
Golden Cross Resources 2008 CGYAR001 RC 682572 6435084 385 -90 0
252

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.

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.

7

talismanmining.com.au

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.

8

talismanmining.com.au

Appendix 2

JORC Tables Section 1 & 2

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Criteria JORC Code explanation Commentary
Sampling
techniques

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.

Newcrest Diamond Holes MEMD0001 &
MEMD0002: Half core samples intervals varied
from 0.2 to 2 m in length but were predominantly
aligned to 2m intervals. 3kg was pulverised to
produce a 50g charge for analysis by fire assay
(FA50/MS) and multi-element 4-acid digestion
(4AMS). Samples were prepared by Newcrest
Laboratory Services, Orange and dispatched to
Intertek Laboratories, Perth for analysis.

Golden Cross Resources RC Hole GCYAR001:
No samples collected as basement magnetic
target was not intersected and hole was
abandoned within Mesozoic sediments.

Clancy Exploration RC Hole SCR0001: Samples
were collected as 10m composites, unless
encouraging signs were observed, then samples
were 1m composites. A total of 11 samples were
submitted for assay to ALS Orange.
Drilling
techniques

Drill type (e.g. core, reverse circulation, open-
hole 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).

Newcrest Diamond Holes MEMD0001 &
MEMD0002: Diamond holes drilled by Deepcore
Australia Pty Ltd using a Moorooka-mounted
LF130 core rig using triple tube drilling
equipment with precollars completed using
mud-rotary. All drill core was orientated where
possible using the Reflex ACT III RD downhole
Unit. Drill hole surveys were conducted using a
Reflex EZ-Trac instrument with appropriate
routine QC and calibration.

Golden Cross Resources RC Hole GCYAR001:
RC holes drilled to 252m by Tom Browne Drilling.
Vertical hole.

Clancy Exploration RC Hole SCR0001: RC holes
drilled to 156m by Techdrill Pty Ltd. Vertical hole.
Drill
sample
recovery

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.

Newcrest Diamond Holes MEMD0001 &
MEMD0002: Core recovery was generally greater
than 95%.

9

talismanmining.com.au


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.

Golden Cross Resources RC Hole GCYAR001:
RC recovery details were not included in
historical report.

Clancy Exploration RC Hole SCR0001: RC
recovery details were not included in historical
report.
Logging
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.

Newcrest Diamond Holes MEMD0001 &
MEMD0002: Geological logging was both
qualitative and quantitative and recorded
lithology, mineralisation, alteration, mineralogy,
weathering, structural characteristics and other
physical characteristics of the core.

Golden Cross Resources RC Hole GCYAR001:
Geological logging was both qualitative and
quantitative and recorded lithology of Mesozoic
sediments. No basement was intersected. Hole
was abandoned in Mesozoic sediments.

Clancy Exploration RC Hole SCR0001:
Geological logging was both qualitative and
quantitative and recorded lithology and recovery
of Mesozoic sediments. No basement was
intersected.
Sub-
sampling
techniques
and sample
preparation

If core, whether cut or sawn and whether
quarter, half or all core taken.

If non-core, whether riffled, tube sampled,
rotary split, etc. and whether sampled wet or
dry.

For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.

Quality control procedures adopted for all sub-
sampling stages to maximise representivity of
samples.

Measures taken to ensure that the sampling is
representative of the in-situ material collected,
including for instance results for field
duplicate/second-half sampling.

Whether sample sizes are appropriate to the
grain size of the material being sampled.

Newcrest Diamond Holes MEMD0001 &
MEMD0002: Half core samples were prepared
by Newcrest Laboratory Services. DD samples
were dried, crushed, split and pulverised to
produce 50g subsample for analysis by fire
assay (FA50/MS) and multi-element 4-acid
digestion (4AMS). QAQC protocols for all DD
sampling involved the use of Certified Reference
Material (CRM) as assay standards.

Golden Cross Resources RC Hole GCYAR001:
No samples collected as basement was not
intersected and hole was abandoned in
Mesozoic sediments.

Clancy Exploration RC Hole SCR0001: Samples
were collected as 10m composites, unless
encouraging signs were observed, then samples
were 1m composites. A total of 11 samples were
submitted for assay to ALS Orange. QAQC
protocol details were not included in historical
report.
Quality of
assay data
and
laboratory
tests

The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or
total.

For geophysical tools, spectrometres,
handheld XRF instruments, etc, the parametres
used in determining the analysis including
instrument make and model, reading times,

Newcrest Diamond Holes MEMD0001 &
MEMD0002: QAQC protocols included
Duplicates inserted at 1 in 20 and Certified
Reference Standard inserted at 1:20.

Golden Cross Resources RC Hole GCYAR001:
No samples collected as basement wasn’t
intersected and hole was abandoned in
Mesozoic sediments.

10

talismanmining.com.au

calibrations factors applied and their
derivation, etc.

Nature of quality control procedures adopted
(e.g. standards, blanks, duplicates, external
laboratory checks) and whether acceptable
levels of accuracy (i.e. lack of bias) and
precision have been established.

Clancy Exploration RC Hole SCR0001: Sample
quality control details were not included in
historical report.
Verification
of sampling
and
assaying

The verification of significant intersections by
either independent or alternative company
personnel.

The use of twinned holes.

Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.

Discuss any adjustment to assay data.

Newcrest Diamond Holes MEMD0001 &
MEMD0002: No significant intercepts recorded.
All primary logging, sampling and assay data is
available for download from the NSW DIGS
website as text files.

Golden Cross Resources RC Hole GCYAR001:
No samples collected as basement wasn’t
intersected and hole was abandoned in
Mesozoic sediments. All primary logging data is
available for download from the NSW DIGS
website as text files.

Golden Cross Resources RC Hole GCYAR001:
No significant intercepts recorded. All primary
logging data is available for download from the
NSW DIGS website as text files.
Location of
data points

Accuracy and quality of surveys used to locate
drill-holes (collar and down- hole surveys),
trenches, mine workings and other locations
used in Mineral Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

Newcrest Diamond drill collar locations
collected using hand held GPS.

Clancy and Golden Cross RC drill collar
locations collected using DGPS.

The coordinate system used is the Geocentric
Datum of Australia (GDA) 1994. All coordinates
are in the Map Grid of Australia zone 55 (MGA),
Universal Transverse Mercator.
Data
spacing
and
distribution

Data spacing for reporting of Exploration
Results.

Whether the data spacing and distribution is
sufficient to establish the degree of geological
and grade continuity appropriate for the
Mineral Resource and Ore Reserve estimation
procedure(s) and classifications applied.

Whether sample compositing has been
applied.

Historical vertical holes drilled to test magnetic
anomalies in basement.
Orientation
of data in
relation to
geological
structure

Whether the orientation of sampling achieves
unbiased sampling of possible structures and
the extent to which this is known, considering
the deposit type.

If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to have
introduced a sampling bias, this should be
assessed and reported if material.

Historical vertical holes drilled to test magnetic
anomalies in basement.

11

talismanmining.com.au

Sample
security

The measures taken to ensure sample security.

Newcrest diamond holes MEMD001 &
MEMD002: Security measure details were not
included in historical report.

Golden Cross Resources RC Hole GCYAR001:
No samples collected as basement wasn’t
intersected and hole was abandoned in
Mesozoic sediments.

Clancy Exploration RC Hole SCR0001: Security
measure details were not included in historical
reports.
Audits or
reviews

The results of any audits or reviews of sampling
techniques and data.

No external audits or reviews of the sampling
techniques and data have been reported.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

Criteria JORC Code explanation Commentary
Mineral
tenement
and land
tenure
status

Type, reference name/number, location and
ownership including agreements or material
issues with third parties such as joint
ventures, partnerships, overriding royalties,
native title interests, historical sites,
wilderness or national park and
environmental settings.

The security of the tenure held at the time of
reporting along with any known impediments
to obtaining a licence to operate in the area.

EL9679 is held 100% by Haverford Holdings a 100%
owned subsidiary of Talisman Mining.

The tenement is in good standing and there are no
existing known impediments to exploration or
mining.
Exploration
done by
other parties

Acknowledgment and appraisal of
exploration by other parties.

The Yarindury Copper-Gold Project has been
subject to exploration by several previous explorers
including Golden Cross Resources, Alice Queen Ltd
and Newcrest Mining Ltd.

Exploration work has included diamond, RC drilling,
geological mapping, geological interpretation and
geophysics (airborne magnetics, ground gravity).
Geology
Deposit type, geological setting and style of
mineralisation.

The Yarindury Copper-Gold Project lies within the
Molong Volcanic Belt of the Lachlan Fold belt in
NSW.

The Yarindury Copper-Gold Project is considered
prospective for Cu-Au porphyry style mineralisation.
Drill-hole
Information

A summary of all information material to the
understanding of the exploration results
including a tabulation of the following
information for all Material drill-holes:

easting and northing of the drill-hole collar

Historical drilling has been appropriately referenced
to source information (see Table 1 and historical
reports below).

12

talismanmining.com.au


elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill-hole
collar

dip and azimuth of the hole

down hole length and interception depth

hole length.

If the exclusion of this information is justified
on the basis that the information is not
material and this exclusion does not detract
from the understanding of the report, the
Competent Person should clearly explain
why this is the case.
Historical Drilling Report References (NSW Resources
DIGS Site)

Newcrest Ltd 2018 First Annual Exploration Report
on EL8565 (RE0010608).

Golden Cross Resources 2008 Second and Final
Annual Exploration Report on EL6724 (R00030990).

Clancy Exploration Ltd 2009 Third and Third Annual
Reports for the Period EL6536 (R00037963).
Data
aggregation
methods

In reporting Exploration Results, weighting
averaging techniques, maximum and/or
minimum grade truncations (e.g. cutting of
high grades) and cut-off grades are usually
material and should be stated.

Where aggregate intercepts incorporate
short lengths of high-grade results and
longer lengths of low-grade results, the
procedure used for such aggregation should
be stated and some typical examples of
such aggregations should be shown in detail.

The assumptions used for any reporting of
metal equivalent values should be clearly
stated.

No significant intercepts reported.
Relationship
between
mineralisati
on widths
and
intercept
lengths

These relationships are particularly
important in the reporting of Exploration
Results.

If the geometry of the mineralisation with
respect to the drill-hole angle is known, its
nature should be reported.

If it is not known and only the down hole
lengths are reported, there should be a clear
statement to this effect (e.g. ‘down hole
length, true width not known’).

No significant mineralisation was identified in any of
the historical holes.
Diagrams
Appropriate maps and sections (with scales)
and tabulations of intercepts should be
included for any significant discovery being
reported These should include, but not be
limited to a plan view of drill-hole collar
locations and appropriate sectional views.

Appropriate maps with scale are included within the
body of the accompanying document.
Balanced
reporting

Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and high
grades and/or widths should be practiced to
avoid misleading reporting of Exploration
Results.

All relevant data is reported and provides an
appropriate representation of the results.

The accompanying document is considered to
represent a balanced report.

13

talismanmining.com.au

Other
substantive
exploration
data

Other exploration data, if meaningful and
material, should be reported including (but
not limited to): geological observations;
geophysical survey results; geochemical
survey results; bulk samples – size and
method of treatment; metallurgical test
results; bulk density, groundwater,
geotechnical and rock characteristics;
potential deleterious or contaminating
substances.
Geophysical Data

All historical geophysical data was reviewed and
interpreted by John Donohue, Principal
Geophysicist from Geo-Discovery Group.
Airborne magnetics

Grid filtering and enhancements was undertaken on
NSW GovernmentDubbo 1991 (400 m line spaced)
Survey andNewcrestMendoran (100 m spaced)
2017 survey. 3D smooth modelling was completed
using Geosoft’s Voxi mag modelling program using
Magnetic Vector Inversion (MVI) and normal
induction modes. MVI modes accommodated
remanence effects. Selected 2.5D modelling of
(NSSF) profile grid data in Model Vision.

To provide an analogue for the Yarindury anomaly,
3D MVI Mag Modelling was undertaken across
Cadia/Ridgeway Complex using 1984 RGC 200m
line spaced airborne (pre-dating development)
survey data and topographic SRTM data (postdating
development).
Ground Gravity

Gridding and high pass filtering of a 2017 ground
gravity (1km line spacing and 200m station spacing)
acquired by Atlas Geophysics for Newcrest.

All meaningful and material information is reported.
Further work
The nature and scale of planned further work
(e.g. tests for lateral extensions or depth
extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of
possible extensions, including the main
geological interpretations and future drilling
areas, provided this information is not
commercially sensitive.

Planned future work at the Yarindury Copper-Gold
Project if warranted would include follow up
Diamond drilling and geophysical surveys.

14

talismanmining.com.au