Well-funded Talonx spinning the bit near Kalgoorlie as it chases ‘exciting’ targets

Talonx Resources (ASX: TXR) has commenced a 1,800-metre RC drilling program at the Blair North gold project, 25 kilometres east of Kalgoorlie, with the drilling to target high-grade gold at Commodore, Commodore North, and Snake Hill.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

“Following our well-supported capital raising, we are now well-funded and delighted to commence this drilling at Blair North. There are a number of very exciting gold targets along the Commodore trend and also at Snake Hill, which we’ve developed over the last few months,” exec chairman Dr Steve Lennon said.

“Upon completion at Blair North, the company looks forward to advancing drilling at the Viking Project. This will include follow-up of high-grade results from recent drilling at Beaker 2, in addition to Talonx’s first drilling at Beaker 4.”

The majority of planned drilling will be targeting quartz vein-hosted high-grade gold mineralisation, Dr Lennon told Talonx shareholders in an update.

Several holes will be testing for extensions along strike and down-dip from past drilling. In addition to the Commodore prospects, RC drilling at Snake Hill will be testing several structural and geochemical high-grade targets.

Previous results from Blair North include 5.9 metres at 6.7 grams per tonne (g/t) from 244.4 metres and 2.5 metres at 7.4 g/t Au from 255.4 metres.

Talonx received commitments in late March to raise $750,000 to fund Blair North and Viking. The company’s directors agreed to subscribe for a $65K placement, subject to shareholder approval, which will be sought at a general meeting.

The drilling at Blair North is scheduled to take two weeks to complete, with assay results expected in May. Following completion at Blair North, the reverse circulation rig will mobilise to the Viking project, 30km east of Norseman, to recommence RC drilling at the Beaker 2 and Beaker 4 prospects.

TXR is up 10% to 1.1¢. Mkt cap $8.634M.

Join the discussion: See what HotCopper users are saying about Talonx Resources Ltd and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.