The first on-ground exploration program in 14 years is underway at Talisman Mining Ltd (ASX: TLM)’s Mabel Creek iron oxide copper-gold (IOCG) prospect in South Australia, which was only added to the company’s portfolio last year.
A ground gravity survey is the first stage to be kicked off and will cover the entire 1,048 square kilometre holding at Mabel Creek, sniffing out prospective magnetic anomalies with a drilling program on yielded targets to commence in the second half of 2024.
Lying along SA’s Gawler Craton IOCG corridor, the prospect has only been lightly explored, with the last work being undertaken by Teck Corporation and Vale Minerals, the most recent being ten years ago.
This has mostly involved limited gravity surveys over small targets. Hillgrove identified the need for more detailed work, given the inadequate assessment provided thus far of the prospectivity for IOCG style mineralisation across the structurally complex area.
Talisman managing director Andrew Munckton said the work beginning at the prospect was long overdue, given active exploration in other parts of the region, with hints already showing what Mabel Creek could contain.
“We are very pleased to be back exploring at Mabel Creek with the detailed gravity survey now underway – the first on-ground exploration activity at the project in more than 14 years,” he said.
“Mabel Creek is a project that we acquired in 2023 and we believe is prospective for large-scale IOCG-style mineralization as seen elsewhere in the Gawler Craton.
“The neighborhood is very active with exploration programs being undertaken by Rio Tinto, FMG and Petratherm in the area.”
Talisman Mining is trading at 27c.