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MENAFN - ProactiveInvestors - Australia - 20/11/2012

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(MENAFN - ProactiveInvestors - Australia) Talisman Mining (ASX: TLM) has kicked off first-pass reverse circulation drilling at the highly prospective Halloween West with joint venture partner and partner Chrysalis Resources (ASX: CYS).

Halloween West is strategically located just 12 kilometres south-west of Sandfire Resources' (ASX: SFR) high-grade DeGrussa VMS Copper-Gold Project in Western Australia.

The aggressive drilling program has three rigs turning, with two reverse ciruclation and one diamond, which will test the Halloween, Halloween West and Springfield Projects.

Talisman is earning a 60% joint venture interest at the Halloween West Project, with the drilling aimed at providing the first definitive test of the prospective horizon.


The Joint Venture

The Halloween West joint venture project is underlain by the prospective Narracoota Volcanic Formation which hosts the DeGrussa copper-gold deposits and is located immediately along strike and to the west of the wholly owned Halloween Project.

The project is interpreted to host the western extension of the Halloween VMS horizon where Talisman recently commenced a program of diamond and reverse circulation drilling to test key VMS copper-gold targets and to follow up encouraging high-grade gold and copper intercepts from earlier in the month.

Talisman is farming into the Halloween West Project, and has the right to earn a 60% joint venture interest by spending 500,000 on exploration within three years.

 






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