Talisman Mining Identifies Large-Scale Gold System at Sheepyard Prospect

Emerging Large-Scale Gold System at Sheepyard

Talisman Mining (ASX:TLM) has uncovered compelling evidence of a large-scale gold system at its Sheepyard Prospect within the Walkers Hill Gold Project in New South Wales. A recent 1,657m aircore drilling program intersected broad zones of shallow gold mineralisation extending over an unconstrained 800m strike length. These mineralised zones coincide with the margins of a strong IP chargeability anomaly that remains untested at depth, suggesting a potentially significant gold-bearing system.

Key drill results from this program include 9m at 0.94g/t Au from 42m (including 6m at 1.28g/t Au) and 15m at 0.55g/t Au from just 3m depth, reinforcing the prospectivity of the area. These findings build on earlier aircore and reverse circulation results reported in 2025 and early 2026, which also demonstrated broad zones of low- to moderate-grade gold mineralisation, such as 15m at 1.10g/t Au from surface and 42m at 0.44g/t Au from 4m depth.

Geophysical Targeting and Geological Context

The Sheepyard Prospect lies at the southern end of a 5.5km-long soil gold anomaly, with gold values exceeding 25ppb. The mineralisation is interpreted to be associated with sheared, veined, and brecciated quartz-pyrite alteration zones within sedimentary rocks, typical of orogenic-style gold deposits. There is a notable geochemical association with arsenic, antimony, and tungsten, further supporting this classification.

The standout feature is the large north-west plunging IP chargeability anomaly detected by previous surveys, which is interpreted to represent disseminated pyrite linked to gold-bearing quartz veining. Importantly, the recent drilling has only tested the margins of this anomaly, with the core remaining untested at depth. Some aircore holes ended in mineralisation, hinting at a larger system below the current drill depth. Hematite alteration near surface likely masks the primary sulphide response, indicating multiple subparallel mineralised zones might exist at depth.

Planned Follow-Up Drilling to Test Depth Extensions

Building on these encouraging results, Talisman is planning further drilling programs. Follow-up aircore drilling aims to expand the known footprint of the mineralised system along strike, while deeper reverse circulation drilling will target the core of the IP anomaly at depth. This next phase is critical to assessing the scale and grade potential of the system and could unlock a more definitive resource target within the Walkers Hill Project.

East Peak Hill Project Exploration Narrows Focus

Elsewhere, Talisman’s East Peak Hill Project, located within the Junee-Narromine Belt near established gold mines, underwent a recent reconnaissance aircore drilling campaign targeting areas outside the main gold trend. This 15-hole, 1,103m program failed to return significant gold results, confirming that exploration efforts will concentrate on the central interpreted gold trend identified earlier in 2026. In-fill drilling is planned to better define this target.

The Walkers Hill and East Peak Hill projects form part of Talisman’s broader NSW exploration portfolio, which also includes tenure in the mineral-rich Lachlan Fold Belt and the Mabel Creek Project in South Australia, prospective for IOCG and rare earth deposits.