Talisman Mining's 300% share price surge shows the exploration sector isn't dead

About four months ago we outlined our reasons as to why Talisman Mining (ASX: TLM) could become an exploration success story (VIEW LINK). Fast forward to the events of the past week and we feel suitably vindicated - with the company announcing in conjunction with its joint venture farm-in partner, Sandfire Resources (ASX: SFX) some of the most spectacular massive sulphide intercepts seen in recent times. The current diamond drill-hole at its Monty prospect has returned 16.5 metres (not true width) grading a spectacular 18.9% copper and 2.1 g/t gold from a depth of 409.5 metres. The significance of the current hole is that it has intercepted the first significant high-grade massive sulphide copper-gold mineralisation anywhere outside of the four known mineralised lenses at Sandfire’s DeGrussa mine, 10km away from Monty. Sandfire’s drilling is part of a $15 million joint venture farm-in that allows it to earn up to a 70% stake in Talisman’s Springfield project, located adjacent to Sandfire's DeGrussa mine. Drilling is continuing so watch this space.

Gavin Wendt
Founding Director

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).

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