A good presentation overview of the current TLM situation. 12 assay results and downhole magnetic surveys due in the coming weeks.

Presentation has the feel of a CR about it. In the interview with MD he stated no plans for M&A but maybe looking to bring more institutional investors on board?

Drilling assays getting stronger. Managing director on "The Hole Truth" podcast describing the latest results as some of the best he has seen in 30 years in the industry. More results to come. Only $153K spend last quarter after royalties and $7M in the bank.

Exceptional assay results returned from diamond hole DRRCD0019,

The results confirm two zones of strong, high-grade mineralisation:

Base Metals Zone – 25.2 metre zone containing massive, semi-massive, matrix and laminated galena-sphalerite-silver and lesser chalcopyrite-gold from 198.0m downhole.

Assays include:

7.5m at 1.5% Pb, 2.2% Zn, 23.6g/t Ag, 0.3% Cu, 0.31g/t Au from 198m to 205.5m and

7.4m at 6.7% Pb, 2.9% Zn, 137g/t Ag, 0.2% Cu, 0.24g/t Au from 218.8m to 226.2m including:

1.7m at 26.5% Pb, 7.8% Zn, 558g/t Ag, 0.7% Cu, 0.81g/t Au from 224.5m to 226.2m containing 1.1m of massive sulphide

Copper-Gold Zone – 28.3 metre zone containing massive, matrix and blebby chalcopyrite-galena-sphalerite-gold-silver from 370.5m down-hole in an extensively altered quartz-carbonate vein breccia.

Assays include:

28.3m at 4.03g/t Au, 0.9% Cu, 3.8% Pb, 0.7% Zn, and 26.5g/t Ag from 370.5m to 398.8m down-hole, including:

10.0m at 7.94g/t Au, 1.0% Cu, 9.9% Pb, 1.5% Zn and 61.3g/t Ag from 374m to 384m down-hole, including:

3.5m at 21.2g/t Au, 1.6% Cu, 11.8% Pb, 2.4% Zn and 84.7g/t Ag from 379.5m down-hole; and

7.8m at 4.11g/t Au, 1.8% Cu, 1.0% Pb, 0.6% Zn, and 16.3g/t Ag from 391m to 398.8m

“Both high-grade zones offer huge potential and represent very exciting exploration targets for the Company. In light of this, we recently initiated a program of down-hole EM surveying to search for additional off-hole conductors across the 2.0km strike length of GAIP anomalism tested to date with RC and diamond drilling. Results from the down-hole EM survey program should be available in approximately two weeks.

“Once assay results for the recently completed drilling, down-hole EM and detailed structural analysis of the diamond cores are complete, a further program of Stage 3 follow-up drilling will be planned and commence this quarter.” 

Held in RL

SP has another good run lately back up to 27c from 17c. Personally missed the buy in oportunity in SM but still hold in RL

2024 exploration program commences at Talisman’s 100%-owned Mabel Creek IOCG Project in SA, acquired by TLM in 2023, with a Ground Gravity Survey underway.

Initial 6-8 week survey program covering entire 1,048sqkm holding.

Survey covers a number of prospective magnetic anomalies in the Mabel Creek area and will be used to generate drill targets for the planned field program commencing in the second half.

First on-ground exploration work to be undertaken on this project area for 14 years.

"The neighborhood is very active with exploration programs being undertaken by Rio Tinto, FMG and Petratherm in the area.”

Kerry Harmanis dropping $260K in on market trade for 1M shares

Latest presentation

Held in RL

TLM issued a speeding ticket today. No news up 27%. Volume well over double usual buy in days. Sold out today in SM but still hold in RL(15%).

Quite a lot of discussion about copper shortages at the moment. TLM has 1000km2 at Mabel Creek in SA Gawler Craton with potential for copper- gold discoveries. No debt and funded from the iron ore royalty in the Pilbara which is significant at the current iron ore price.

Modern exploration techniques yielding further prospects.

Compelling New Drill Targets Identified From Geophysical Surveys at the Lachlan Project, NSW

Priority chargeable and conductive anomalies identified in areas known to host base and precious metal mineralisation; Drilling to be expedited in Q2/Q3 2023

The definition of new drill-ready anomalies reinforces Talisman’s exploration strategy of systematically narrowing the exploration search space to identify robust exploration targets.

“Our concurrent work streams of drilling, geophysics and geochemistry are starting to bear fruit in NSW. The identification of the priority Stella and Rip and Tear geophysical targets represents an excellent outcome from our systematic and methodical greenfields exploration approach. "

Another quarter where TLM royalties cover exploration costs. Some drilling results to come in the current quarter and the auger drilling program starts with initial on site results coming in over the next half. Still some delays due to lab delays and weather. Royalties will be lower going forward as the iron ore price is predicted to be decreasing over the near term.

Drilling commenced on 12 geophysical targets with mixed results. Some with no mineralisation to explain the anomaly others such as the Kaolin Shaft and Durnings prospects, visual base metal sulphides were encountered in all seven drill-holes. Talisman is awaiting assay return for these drill-holes at present, which are expected in May.

Analytical results for geochemical assays experienced extended turnaround times in 2022, with expected six-week assay returns being delayed by 3-4 months.

The auger drilling program is designed to test basement geochemistry across targets generated by regional geophysical surveys and is estimated to take 4-5 months to complete, depending on final hole depths across each program, with analysed samples providing a pipeline of ongoing geochemical anomalies for further work.

To allow for rapid target generation based on auger drilling programs, Talisman has partnered with Portable PPB Pty Ltd, an Australian private company holding the exclusive global licence to the CSIRO developed low-level gold by pXRF technology known as detectORE.

The technology is a fast, simple and robust process to enable the leaching, concentrating and detection of gold from a bulk sample at parts per billion levels with high precision using conventional hand-held XRF instruments, this will allow Talisman to return a fast (less than 12-hour turnaround) on-site preliminary gold and multi-element geochemistry result to guide real-time exploration, while still allowing follow-up geochemical analysis via commercial assay laboratories.

Held in SM and RL