Join our daily newsletter At The Bell to receive exclusive market insights
Talisman Mining Ltd (ASX:TLM) has extended its copper-gold footprint in New South Wales through its acquisition of the Yarindury porphyry project, located 30 kilometres east of Dubbo.
Previously held by Alice Queen through a joint venture with Newcrest, the project has experienced minimal exploration, although two diamond holes confirmed the prospective
geology and returned anomalous copper mineralisation.
Additionally, Yarindury features large-scale magnetic geophysical anomalies which remain untested, and the same prospective rock types as Alkane Resources Ltd’s (ASX:ALK) Boda-Kaiser Project, which is situated in the same mineralised belt.
The latter project carries a mineral resource estimate (MRE) of 8.3 million ounces (Moz) of gold and 1.5 million tonnes of copper, and lies 20km to the south-east.
Managing Director Andrew Munckton, said Yarindury was an exciting addition to the Talisman 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,” he said.
“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.”
Talisman has been trading at 25.5 cents.
