Perth, Jan 19, 2006 AEST (ABN Newswire) - Despite having only completed its IPO and ASX listing on 25 November 2005, Talisman Mining Ltd (ASX: ) has implemented first pass drill programs on two of its more prospective project areas, concluded its first additional ground acquisition agreement and added strength to our Technical staff.
MOUNT JAMES PROJECT
The Company has reached an agreement to acquire 80% of the Bustler Well gold prospect from Adelaide Prospecting Pty Ltd for a nominal cash sum and a commitment to carry the vendor's minority interest to completion of bankable feasibility.
The Project is located immediately adjacent to and along strike of the Company's Mount James Project.
Previous limited drilling by past explorers had returned drill intercepts to 1m @ 37.4g/t gold, 2m @ 9.08g/t gold, 3m @ 7.62g/t gold and 3m @ 7.17g/t gold.
The Company believes that the Bustler Well mineralisation could provide a high grade repetition of the Mount James mineralisation approximately 10 kilometres to the southwest.
The project has been in private hands for a number of years with little or no detailed exploration work completed on the prospect in the 16 years since 1989.
TRILLBAR PROJECT
Preliminary 4 metre assay results have been received for the first round of RC drilling at the Boundary prospect, Trillbar Project. These results confirm the Company's interpretation of the strike and depth potential of the mineralisation and support the devised program of further drilling to expand the resource.
Confirmatory 1 metre re-sampling and fire assay is required to provide firm results. This work has been delayed as a result of flooding from Cyclone Clare but will be completed and available by the end of January, 2006.
A second RC drill program of 1500m is planned for commencement on or about February 1, 2006. This program will target further strike and depth extensions to the mineralisation.
WONMUNNA PROJECT
Three RC drillholes for 168m were completed at Wonmunna in January; two to test outcropping copper mineralisation and a third to test a copper-zinc-gold-silver gossan previously located by the Company. Assay results are expected to be available by early February, 2006.
MANAGEMENT
The Company is pleased to advise that Mr Harry Cornelius has been appointed as Exploration Manager. Mr Corenelius was formerly senior geologist with Sons of Gwalia Ltd.
Contact
Kevin Skinner
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
TEL: +61 8 8234 9555
FAX: +61 8 8234 9566
Mob: +61 414 822 631
kevin@fieldpr.com.au
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