Talisman Mining has been granted a new tenement, EL 9679, that shows potential for copper and gold, in New South Wales (NSW), Australia.
The new tenement, known as the Yarindury Project, is situated 30km east of Dubbo in the Macquarie Volcanic Arc of central-western NSW.
The project area hosts several porphyry-style magnetic targets with confirmed prospective geology and copper-gold anomalism, indicating potential for significant mineral deposits.
Talisman noted that the Yarindury Project is strategically positioned within the same geological belt as the Alkane Resources-owned Boda-Kaiser Project, which boasts substantial mineral resources.
The Yarindury Project also shares similarities with Newmont‘s Cadia deposit, said to be one of Australia’s largest gold and copper mines.
Previously held by Alice Queen, the Yarindury Project has seen limited exploration, with only two diamond drill holes completed in partnership with Newcrest in 2018.
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By GlobalData
The results showed the presence of favourable rock units with traces of copper and gold, yet the largest magnetic anomaly remains untested.
The project area lies along the northern extension of the Molong Volcanic Belt, known for its high prospectivity.
Talisman’s exploration strategy at Yarindury project aims to uncover buried volcanic basement elements that could host large-scale porphyry or other related copper and gold deposits.
Talisman Mining, which has secured a landholder access agreement, plans to submit an exploration application to the NSW Department of Primary Industries and Regional Development.
The initial exploration programme includes five diamond drill holes targeting the basement rocks at a significant geophysical feature, with further drilling planned subject to initial results.
Subject to approval from the NSW Government, Talisman anticipates commencing drilling activities in the September quarter.
Talisman managing director Andrew Munckton said: “At a time of strengthening copper and gold prices around the world, this new project offers exploration exposure to the Tier 1 Molong Volcanic Belt, which hosts several major porphyry-style copper-gold deposits.
“Yarindury’s location within the Molong Volcanic Belt and its side-by-side comparison with the world-class Cadia Ridgeway deposits clearly demonstrates the significant scale of the opportunity.
“Importantly, this initial phase of drilling will provide us with detailed geological context as to the potential style and scale of copper-gold mineralisation associated with the large geophysical anomaly.”
In April 2024, Talisman recommenced field-based exploration work at the Mabel Creek Prospect in central South Australia.
