Talisman’s Exploration Spend Rises Amid Uncertain Gold and IOCG Prospects
Talisman Mining ramps up exploration in New South Wales with new gold targets and advances its Mabel Creek IOCG project in South Australia, supported by strong financials and ongoing drilling programs.
- Multiple new gold exploration targets identified in Lachlan and Macquarie Arc Projects, NSW
- RC drilling at Sheepyard target to commence late July 2025
- Diamond drilling at Mabel Creek IOCG project reveals hydrothermal alteration with molybdenum and rare earth elements
- Received $1.58 million in royalties from Wonmunna Iron Ore Project
- Cash balance of $4.49 million supports ongoing exploration activities
Exploration Momentum Builds in New South Wales
Talisman Mining has identified multiple new gold exploration targets across its Lachlan and Macquarie Arc projects in New South Wales, following comprehensive geological, geochemical, and geophysical reviews. The standout is the Sheepyard target within the Walkers Hill gold geochemical trend, where an initial reverse circulation (RC) drilling program is set to begin in late July 2025. This drilling aims to test a significant induced polarisation (IP) chargeability anomaly beneath historical shallow gold intercepts, potentially unlocking deeper mineralisation.
Complementing this, a 1,600-hole auger geochemical survey is scheduled to commence, targeting soil and regolith gaps within the Mineral Hill–Canbelego Volcanic Belt. Meanwhile, at the Yarindury Project, a ground IP and magnetotelluric survey has been completed to refine copper-gold porphyry targets, with drilling planned for the September quarter. The East Peak Hill Project has also seen the start of a 150-hole auger survey to delineate gold anomalies for follow-up drilling.
Encouraging IOCG Indicators at Mabel Creek, South Australia
In South Australia, Talisman’s Mabel Creek project, prospective for Iron Oxide Copper Gold (IOCG) deposits, has delivered promising early results from a three-hole diamond drilling program. Notably, hole MCMRD002 intersected a broad hydrothermal alteration zone enriched in molybdenum and rare earth elements (REE), which are being further analysed to assess their potential as vectors toward IOCG mineralisation. The company is reviewing additional geophysical targets south of the Horse Camp Fault, with plans for further drilling to follow.
Financial Position and Corporate Highlights
Talisman Mining remains well-funded with a cash balance of $4.49 million at the end of June 2025, supporting its active exploration programs. The company also received $1.58 million in royalty payments from the Wonmunna Iron Ore Project, reflecting ongoing income streams from its iron ore interests. Exploration expenditure for the quarter totaled $1.98 million, covering activities across its NSW and South Australian projects.
The company continues to adopt a disciplined approach to growth opportunities, focusing on value-accretive projects that align with its strategic objectives. With multiple drilling campaigns underway and geophysical surveys refining targets, Talisman is positioning itself to unlock significant mineral discoveries in highly prospective regions.
Bottom Line?
As Talisman Mining advances drilling and geochemical programs, the coming quarters will be critical in defining the scale and economic potential of its new gold and IOCG targets.
Questions in the middle?
- Will the upcoming Sheepyard RC drilling confirm deeper, economically viable gold mineralisation?
- How significant are the molybdenum and rare earth element anomalies at Mabel Creek in indicating IOCG deposits?
- What impact will fluctuating iron ore prices have on Talisman’s royalty income and funding for exploration?