TALISMAN MINING LIMITED - ASX: TLM

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Description

Talisman Mining Ltd is an Australian mineral exploration company with key interests in base metals, iron ore and gold, in Western Australia.

Talisman is managed by the executive team from the highly successful Australian mid tier company, Jubilee Mines NL and its vision is to build a quality Australian mining and exploration company focused on generating profits and shareholder returns.

Copper / Gold Projects

Springfield Project

The Springfield Project is located approximately 150km north east of Meekatharra in the northern Murchison Goldfields, Western Australia. The Springfield Project covers approximately 300 square kilometres of ground immediately adjacent to Sandfire Resources Limited's Doolgunna Project, which hosts the recently discovered DeGrussa, Conductor 1 and Conductor 4 high-grade copper-gold volcanogenic massive sulphide (VMS) deposits. The typical nature of VMS deposits is that they occur in 'camps' of multiple deposits. This well understood geological concept potentially opens up the Springfield Project as one of the most prospective exploration properties in Western Australia for the discovery of high grade copper-gold VMS deposits. The Springfield Project comprises three Exploration Licence Applications (ELA) pegged by Talisman as part of a strategy targeting prospective formations within the Peak Hill District for gold and copper mineralisation.

Milgun Project

The Milgun Project is located approximately 150km north of Meekatharra in the northern Murchison gold field within the Bryah Basin which also hosts Talisman's Springfield Cu/Au Project. The Milgun Project consists of one granted Exploration Licence pegged by Talisman as part of a strategy targeting prospective formations within the Peak Hill District. Initial reconnaissance exploration at Milgun has identified the existence of the prospective Narracoota Volcanics Formation through the project area, with this formation being prospective for gold and copper-gold VMS style mineralisation.

Trillbar Project

Talisman Mining Ltd 80% - Murchison Resources Pty Ltd 20%. The Trilbar Project is situated in the Peak Hill goldfield, Western Australia, approximately 160km north west of Meekatharra. The Trillbar Project covers a suite of rocks dominated by the Proterzoic aged Bryah and Padbury Basins, including over 30km strike of the Narracoota Volcanic Formation, known to be highly prospective for VMS style Cu/Au mineralisation. Existing exploration activities to date have not appraised the potential of the Naracoota Volcanic Formation to host Cu/Au mineralisation within the Trillbar Project but have focussed on defining high-grade lode-gold mineralisation, including the definition of the Boundary Gold Resource, gold mineralisation at Winja as well as numerous drill ready targets possibly indicating further Boundary or Winja type gold mineralisation.

Shelby Project

Talisman Mining Ltd 100%. The Shelby Project is situated in the Peak Hill goldfield, Western Australia, approximately 240km north of Meekatharra and 30km north of the Horseshoe Lights Copper-Gold Mine. The project consists of three Exploration Licence Applications covering a position on the southern margin of the Bangerall Basin, targeting an area of the Bryah Basin that is interpreted to extend under the overlying younger sedimentary basin. This area is interpreted to represent the buried, potential northern strike continuation of the Narracoota Volcanics Formation. The western part of the applications encompasses an area of exposed Bryah Basin that may host prospective stratigraphy within Ravelston Formation sediments similar to the nearby Horseshoe Lights Mine.

Uaroo Project

Talisman Mining Ltd 100%. The Uaroo Project lies within the Ashburton Mineral Field approximately 370km northeast of Carnarvon along the Northwest Coastal Highway near the Uaroo Homestead in Western Australia. The Project covers a prospective suite of rocks that have had little effective historic exploration for their gold and base metals potential. To date work completed at Uaroo by Talisman has included drainage and rock chip sampling. Talisman considers that this project may be prospective for VMS style base metals mineralisation (zinc and lead) and further desktop review and data compilation is ongoing prior to carrying out further field-based exploration activities. The project also has potential for iron ore.

Gold Projects

Maitland Project

Talisman Mining Ltd 80% - Murchison Resources Pty Ltd 20%. The Maitland gold project covers all of the Maitland Greenstone Belt in the northern Yilgarn block, Western Australia. This poorly explored area is considered to have good potential for gold.

Yamarna Project

100% Talisman Mining Ltd. The Yamarna Project is located in the Eastern Goldfields region approximately 160km northeast of Laverton, the most easterly Archaean greenstone belt in the Yilgarn Craton. The area has been host to some very minor historic workings in the district, with exploration in the area only occurring essentially since the 1990's. Trending NW/SE, the greenstone belt is 170km in strike length and attains a thickness of 12 km. The Yamarna Project occupies a position within the centre of this greenstone belt. Initial assessment of the regional geophysics data suggests that the greenstone belt is much more extensive than the outcrop and GSWA mapping suggests, with continuation beneath shallow cover evident.

Iron ore Projects

Wonmunna Project

Talisman Mining Ltd 100%. The Wonmunna iron project is situated in the heartland of the East Pilbara iron-ore mining industry, with three major mines within a 25km radius, the West Angelas (Rio Tinto), Hope Downs 1 (Rio Tinto/Hancock) and Mining Area C (BHP Billiton) Operations. The iron ore mineralisation within the Wonmunna Mineral Resource deposits occur as a number of discrete zones of supergene-enriched Marra Mamba Iron Formation within preserved synclinal 'keels', and as such, comprises flat-lying blankets averaging 20m-40m in thickness within the oxidised zone. In turn, this mineralisation is overlain by low grade (40%-50% Fe) Channel Iron Deposit (CID) mineralisation ranging from 0m to 20m in thickness.

Anticline Project & Tom Price Project

A Royalty Agreement is in place with Fortescue Metals Group Ltd covering the rights to iron ore of this project.

Manganese

Wandanya, Gangarrigan and Yilgalong Projects

Talisman Mining Ltd 100% (Shaw River Resources earning 70%). Talisman has consolidated three projects (Wandanya, Gangarrigan and Yilgalong) that are prospective for manganese in relatively close proximity to the Woodie Woodie Manganese Mine in the East Pilbara Mineral Field. In October 2009, Talisman entered into a Farm - Out Agreement with focused manganese explorer, Shaw River Resources. Under the Farm - Out Agreement Shaw River Resources can earn a 70% joint venture interest in these projects and now manage exploration activities at projects in accordance with the terms of that Agreement. Shaw River Resources have renamed these projects the Skull Springs Project.

Mine For

gold, copper, nickel, manganese, iron ore

Location of operation(s)

Western Australia

Address

6 Centro Ave
SUBIACO, WA, AUSTRALIA

Phone

(61 8) 9380 4230

Email

Website

http://www.talismanmining.com.au

Last Updated

23/02/2010