Sandfire continuing the aggressive search on Talisman's acreage for the next DeGrussa discovery
Talisman Mining (ASX: TLM) is one of our preferred exploration plays, maintaining an important exploration farm-out joint venture with Sandfire Resources (ASX: SFR) involving its flagship Springfield Project in Western Australia. Sandfire can earn up to a 70% stake in three of Talisman’s projects by spending at least $15 million over a 5½-year period. Most recently, Sandfire has advised that a high-powered DHEM survey undertaken on diamond hole TLDD0002A at the Monty prospect has identified a highly conductive late-time anomaly, 15 metres off-hole and at a depth of 410 metres, which will be followed up by drilling. Exploration at Springfield has delivered significant encouragement, confirming the project contains interpreted extensions of the volcanic rock package that hosts the DeGrussa VMS deposits.
Gavin has been a senior resources analyst following the mining and energy sectors for the past 25 years, working with Intersuisse and Fat Prophets. He is also the Executive Director, Mining & Metals with Independent Investment Research (IIR).