Drilling anticipated to be undertaken by Sandfire at the high priority Homer Prospect in December 2015 quarter.
Sinclair Nickel Project
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Surface based moving loop electromagnetic (MLEM) surveys completed at the Delphi prospect with new anomalies identified and historic anomalies confirmed.
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Maiden drilling program commenced with seven priority targets identified at three prospects areas; Delphi, Cody Well and Fly Bore.
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Subsequent to end of quarter, maiden Diamond drill-hole SND001 intersected narrow zones of massive sulphides at the Delphi North prospect including:
o 1.4 metres of massive, matrix and breccia sulphides within a 2.2 metre interval from 396.9 metres down-hole.
Doolgunna Copper-Gold Projects (Exploration Farm-in JV with Sandfire Resources)
Talisman has a portfolio of high-quality VMS copper-gold exploration projects in the Bryah Basin region of Western Australia (see Appendix 1). Australian copper producer Sandfire Resources NL (ASX: SFR) is funding active exploration at these projects as part of a joint venture exploration farm-in. Sandfire has the right to earn up to a 70% interest in Talisman's Doolgunna Projects by spending $15 million on exploration over five-and-a-half years.
Sandfire have continued a program of Diamond and RC drilling at the Springfield Project during the quarter, focused on the Monty discovery, located approximately 10km east of the DeGrussa Copper Mine. The key achievement during the quarter was the continued discovery and delineation of high-grade massive sulphide mineralisation at Monty which is fast emerging as an important new VMS discovery within the Springfield Project.
Post quarter, the discovery of bornite mineralisation, not previously seen in any significant quantities at DeGrussa, represents a potentially significant development in the ongoing definition of Monty.
Monty Prospect
Following the discovery of high-grade massive sulphide mineralisation at Monty during the June 2015 Quarter, Sandfire have continued Diamond and reverse circulation (RC) drilling focused on definition of the extents of mineralisation. To date, 5,998m of Diamond and 6,960m of RC drilling has been completed at Monty.
The drilling yielded a further five significant intercepts of massive sulphides in addition to those reported for the June 2015 quarter, as summarised in Table 1. Further details of all holes drilled to date by Sandfire are shown in Tables 3 and 4 at the end of this report.
The collar locations of holes drilled to date by Sandfire are shown in Appendix 2.
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Hole ID
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Significant Intercepts
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TLDD0005
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9.2m @ 11.8% Cu and 2.9 g/t Au from 417m down-hole
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TLDD0009
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7.9m @ 8.3% Cu and 2.4g/t Au from 262.1m down-hole and;
4.8m @ 4.9% Cu and 1.1g/t Au from 385.8m down-hole
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TLDD0010
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10.5m @ 18.9%Cu and 3.1g/t Au from 359.7m down-hole and;
4.7m @ 12.8%Cu and 2.5g/t Au from 373.6m down-hole
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TLDD0021
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1.4m and 7.3m massive sulphides from 241m and 286.2m down-hole (Assays pending)
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TLDD0026
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3m, 2.4m and 19.9m massive sulphides and variable bornite from 325.6m, 330.5m and 340.2m down- hole respectively. (Assays pending)
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TLRC0004
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18m @ 5.7% Cu and 2.4 g/t Au from 107m down-hole and;
4m @ 4.2% Cu and 0.7 g/t Au from 158m down-hole
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TLRC0008
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6m @ 7.8% Cu and 0.9g/t Au from 89m down-hole and;
11m @ 15% Cu and 1.9 g/t Au from 112m down-hole
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TLRC0009
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12m @ 5.7% Cu and 1.8 g/t Au from 133m down-hole
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Table 1: Significant intercepts drilled to date at Monty. All reported intercepts are down-hole widths. True widths are not known at this stage
Ongoing work at Monty has provided sufficient detail to enable Sandfire to provide an initial interpretation of the geological setting of the known mineralisation at Monty. The drilling has indicated the presence of two potentially distinct zones - the Upper Zone and the Lower Zone, a vertical longitudinal projection (looking to the south-east) is shown in Figure 1.
Figure 1 Vertical longitudinal projection of Monty showing drill-hole pierce-points at the top of the primary intercept shown in bold. All intercepts are down-hole widths.
Monty Lower Zone
The Lower Zone at Monty incorporates the massive sulphide mineralisation intersected in TLDD0004A (June quarter), TLDD0005, TLDD0009, TLDD0010, TLDD0021 and TLDD0026 (See Figure 1). Holes TLDD0021 and TLDD0026 were drilled subsequent to the end of the quarter however are reported here for completeness.
The mineralisation seen in the drilling so far, can be interpreted as a dominant primary lens (as seen in holes TLDD0004A and TLDD0005), with possibly stacked subordinate lenses, above and below the primary lens, in certain areas (as seen in holes TLDD009, TLDD0010 and TLDD0021). This is illustrated in the interpretive cross-section for the Lower Zone as shown in Figure 2.
The mineralisation seen in these holes comprise variable amounts of chalcopyrite (main copper-bearing sulphide mineral), pyrite and pyrrhotite, minor sphalerite and galena, along with silicate and talc gangue minerals (with gold and silver).
Other minor intersections of massive sulphides in surrounding holes, and the top of alteration and disseminated sulphides in the periphery of the mineralisation, have informed this interpretation by Sandfire. The primary zone of mineralisation strikes approximately 220° and ranges in dip from 65°- 85° to the north-west.
Figure 2 Interpretive cross-section of the Monty mineralisation (Lower Zone)
Thick zone of massive sulphides intersected in Lower Zone
Diamond hole TLDD0026 was drilled subsequent to quarter end approximately 45 metres along strike from TLDD0021 (7.3 metres of massive sulphides from 286.2m down hole) and approximately 46 metres up-dip of the halo mineralisation intersected in TLDD0014 (see Figure 1).
The primary mineralisation in TLDD0026 is similar to previous holes in the Lower Zone but also contains variable amounts of bornite, a copper mineral which has not previously been encountered by Sandfire in any significant quantities at Doolgunna. TLDD0026 intersected three horizons of massive sulphides within the host sequence of the Lower Zone: