Talisman Mining Strikes Broad Gold Zones at Walkers Hill: What’s Next?
Talisman Mining’s recent drilling at Walkers Hill in NSW reveals promising shallow gold mineralisation, setting the stage for expanded exploration in the coming months. The company also reports solid royalty income and a healthy cash position.
- Five-hole RC drilling at Sheepyard Prospect intersects broad, shallow gold zones
- Gold mineralisation linked to quartz veining and pyrite along a major geological trend
- Follow-up aircore and geophysical programs planned for Walkers Hill and other NSW projects
- Initial diamond drilling at Mabel Creek IOCG project shows encouraging hydrothermal alteration
- Received $1.55 million in iron ore royalties, ending quarter with $4.07 million cash
Exploration Breakthrough at Walkers Hill
Talisman Mining Limited (ASX – TLM) has reported encouraging results from its latest drilling campaign at the Walkers Hill gold target in New South Wales. The company completed a five-hole, 857-metre reverse circulation (RC) drilling program at the Sheepyard Prospect, part of the larger Walkers Hill gold-in-soil anomaly. Four of the five holes intersected broad zones of shallow, low-grade gold mineralisation, with assays showing intervals such as 42 metres at 0.44 grams per tonne (g/t) gold starting from just 4 metres depth.
The mineralisation is associated with thin quartz veining, alteration, and disseminated pyrite within a broad northeast-trending fault zone. This structural setting, combined with coincident geochemical and geophysical anomalies, underscores the prospectivity of the area. Notably, the drilling also targeted a strong chargeability feature identified by a Pole-Dipole Induced Polarisation (PDIP) survey, which appears to correlate with deeper gold mineralisation.
Strategic Follow-Up and Regional Potential
Building on these results, Talisman is planning a follow-up aircore drilling program to test extensions of both near-surface oxide and deeper sulphide mineralisation. The Walkers Hill trend itself extends over 4 kilometres northwest of the current drilling, with multiple untested zones identified. This suggests significant upside potential as the company systematically explores this large, coherent gold-in-soil anomaly.
Elsewhere in New South Wales, Talisman completed a 13-kilometre ground geophysical survey at the Yarindury Project, revealing buried chargeability targets that will be drilled in upcoming programs. At the East Peak Hill Project, initial auger drilling encountered deeper cover than expected, prompting a planned aircore program to complete the survey.
Encouraging Signs from Mabel Creek IOCG Project
In South Australia, Talisman’s Mabel Creek Project, prospective for Iron Oxide Copper Gold (IOCG) deposits, saw initial diamond drilling intersect hydrothermal alteration zones with elevated molybdenum and rare earth elements. These findings are being further analysed to refine drill targets, with a second phase of drilling planned. The project benefits from proximity to world-class IOCG deposits and active exploration by major resource companies.
Robust Financial Position Supports Growth
On the corporate front, Talisman received $1.55 million in royalty payments from iron ore sales at the Wonmunna Iron Ore Project, operated by Mineral Resources Limited. This steady royalty income, combined with disciplined exploration expenditure of $1.35 million for the quarter, leaves the company well-funded with $4.07 million in cash at quarter-end. The board continues to evaluate new project opportunities, emphasizing value-accretive growth.
Bottom Line?
With promising gold intersections and a strong balance sheet, Talisman Mining is poised for a pivotal phase of exploration and value creation.
Questions in the middle?
- Will follow-up drilling at Walkers Hill confirm continuity and economic grades of gold mineralisation?
- How will the Mabel Creek IOCG project’s hydrothermal alteration translate into potential mineral resources?
- What new project opportunities might Talisman pursue to complement its NSW and South Australian assets?
