Talisker Delivers Inaugural Mineral Resource Estimate for the Bralorne Gold Project
Talisker Delivers Inaugural Mineral
Resource Estimate for the Bralorne Gold
Project
TORONTO, Jan. 24, 2023 /CNW/ - Talisker Resources Ltd.
("Talisker" or the "Company") (TSX: TSK) (OTCQX: TSKFF) is
pleased to provide the Company's first Mineral Resource Estimate
("MRE") at its 100% owned Bralorne Gold Project in Southern, British
Columbia ("Bralorne Gold Project" or the "Project"). The MRE is
reported in accordance with the Canadian Institute of Mining (CIM),
Metallurgy and Petroleum Definition Standards (2014) incorporated by
reference in National Instrument 43-101 - Standards of Disclosure for
Mineral Projects, and the 2019 CIM Estimation of Mineral Resources
and Mineral Reserves Best Practice Guidelines.
Figure 1 (CNW Group/Talisker Resources Ltd)
Key Points:
• 117,000 tonnes with an average grade of 8.9 g/t Au for 33,000
ounces gold in the indicated category;
• 8.0 million tonnes at 6.3 g/t Au for 1.63 million ounces of gold in
the inferred category;
• The resource is defined approximately along a strike length of
4.5 km, to a depth of 700 m and remains open along strike and
at depth;
• A total of 86 veins have been identified with 63 veins open along
strike and at depth, 18 remain open at depth, and 2 remain open
along strike;
• Talisker believes that exploration potential exists as proximal
extensions of currently defined mineralized zones, laterally and
at depth, and may yield somewhere between 2.0 and 2.5 million
tonnes at grades between 6.0 and 9.0 g/t Au for 400,000 –
700,000 ounces gold. This exploration potential is supported by
the drill hole and channel sample data used for the 2023 MRE at
drill hole spacings greater than the inferred category resources.
These targets are not mineral resource estimates, potential
quantity and grade is conceptual in nature. There has been
insufficient exploration to define a mineral resource, and it is
uncertain if further exploration will result in the exploration
targets being delineated as a mineral resource.
• Regionally, mineralization has been identified to 2 km below
surface, and along a strike length of 33 km.
Terry Harbort, President and CEO of Talisker, commented, "We are
very happy with our inaugural MRE and that it landed solidly within our
expected range. We are especially pleased to see the grade of the
indicated mineral resource tracking significantly higher with increased
drill hole density. With 400,000 to 700,000 ounces of drill hole
constrained exploration targets defined immediately along strike from
the resource and mineralization open further along strike and already
confirmed to 2 kilometre depth below, we see tremendous upside and
believe the Project can quickly grow to be one of the largest permitted
gold deposits in western Canada." Exploration targets are not mineral
resource estimates, potential quantity and grade is conceptual in
nature. There has been insufficient exploration to define a mineral
resource, and it is uncertain if further exploration will result in the
exploration targets being delineated as a mineral resource.
Talisker is providing an opportunity for shareholders and other
interested parties to participate in a Webinar to be held at 1 pm ET on
Wednesday, January 25, 2023. To register, please click on the
following link
- https://us02web.zoom.us/webinar/register/WN_xIvqzNd8Q7O_p39v
X5hm0A.
Table 1: Bralorne Gold Project 2023 Mineral Resource Estimate
Bralorne Gold Project Category Cut-off Grade Tonnes Grade Ounces
(g/t Au) (t) (g/t Au) (oz Au)
King Indicated Long Hole > 2.65 111,300 8.61 30,800
Cut and Fill > 3.10 5,900 13.45 2,600
Inferred Long Hole > 2.65 1,598,400 5.76 296,200
Cut and Fill > 3.10 76,000 7.89 19,300
Bralorne Inferred Long Hole > 2.65 3,958,100 7.02 893,200
Cut and Fill > 3.10 82,500 7.95 21,100
Pioneer Inferred Long Hole > 2.65 1,436,500 5.72 264,400
Cut and Fill > 3.10 16,700 14.93 8,000
Charlotte Inferred Long Hole > 2.65 859,600 4.70 129,900
Cut and Fill > 3.10 5,600 4.54 800
Total Indicated 117,300 8.85 33,400
Total Inferred 8,033,600 6.32 1,632,900
MRE Notes:
• The independent and qualified persons, as defined by NI 43-101,
are Carl Pelletier, P.Geo., Vincent Nadeau-Benoit, P.Geo., and
Eric Lecomte, P.Eng. (InnovExplo). The effective date of the
2023 MRE is January 20, 2023;
• The mineral resources are not mineral reserves as they do not
have demonstrated economic viability;
• The MRE follows the 2014 CIM Definition Standards on Mineral
Resources and Reserves and the 2019 CIM Estimation of
Mineral Resources and Mineral Reserves Best Practice
Guidelines;
• A total of 86 veins were modelled for the Bralorne, King,
Charlotte, and Pioneer deposits. Quartz vein core wireframes
were modelled with a minimum thickness of 0.50 m. A brecciated
alteration halo wireframe was modelled around each quartz vein
core to produce two nested wireframes with a combined
minimum total true thickness of 1.2 m;
• High grade capping, supported by statistical analysis, was
applied to composited data inside the high-grade quartz veins for
Pioneer (1.4 m) at 100 g/t Au, Bralorne (1.4 m) at 100 g/t Au,
Charlotte (1.0 m) at 31 g/t Au and King (1.2 m) at 110 g/t Au for
the drill hole samples and at 400 g/t Au for the underground
samples and was applied to composited data inside the
brecciated alteration halo for Pioneer (1.4 m) at 6.4 g/t Au,
Bralorne (1.2 m) at 9.5 g/t Au, Charlotte (1.2 m) at 5.2 g/t Au and
King (1.0 m) at 7.5 g/t Au. Compositing was completed using the
grade of the adjacent material when assayed, or a value of zero
when not assayed;
• The mineral resources for the Bralorne Gold Project deposit
were estimated using Datamine StudioTM RM 1.9.36.0 software
using hard boundaries on composited assays. The ID2 method
was used to interpolate a sub-blocked model (parent block size =
5 m x 5 m x 5 m);
• Indicated mineral resources were defined for blocks inside
geological resource solids within 20 m of an underground chip
sample (King only). Inferred mineral resources were defined for
blocks inside geological resource solids within 50 m of a
composite for the King and Charlotte Domains and within 60 m
of a composite for the Bralorne and Pioneer Domains;
• Supported by measurements, a density ranging from 2.65 to
2.69 g/cm3 was established for the high-grade quartz vein and
from 2.69 to 2.75 g/cm3 for the brecciated alteration halo.
Historical underground infrastructures, underground mined
volumes and a 5 m buffer around them were given a density
value of 0 g/cm3.
• The reasonable prospect for an eventual economic extraction is
met by having used reasonable cut-off grades for underground
scenarios, a minimum mining width, and constraining volumes
(Deswik shapes). The estimate is reported for a potential
underground scenario at cut-off grades, depending on the mining
method, of 2.65 g/t Au (Long hole stoping mining method) or
3.10 g/t (Cut and Fill mining method) and were calculated using
a gold price of US$1,650 per ounce, a US$:CA$ exchange rate
of 1.30, a mining cost of C$98.49/t using the long hole stoping
mining method or a mining cost of C$127.49/t using the Cut and
Fill mining method, transport cost of C$8.00/t, environment and
G&A cost of C$24.00/t, rehabilitation cost of C$4.00/t and
processing cost of C$32.00/t. The cut-off grades should be re-
evaluated considering future prevailing market conditions (metal
prices, exchange rate, mining cost, etc.).
• Ounce troy is metric tons multiplied by grade (g/t) and divided by
the constant of 31.10348. The number of tonnes and ounces has
been rounded to the nearest thousand. Any discrepancy in the
totals is due to rounding effects. The rounding followed the
recommendations of NI 43-101.
• The qualified persons are not aware of any problem related to
the environment, permits, mining titles or related to legal, fiscal,
socio-political, commercial issues or any other relevant factor not
mentioned in this press release, that could have a significant
impact on the 2023 MRE.
The 2023 Bralorne Gold Project MRE incorporates the Bralorne, King,
Charlotte, and Pioneer Deposits. The resource is defined
approximately over a strike length of 4.5 kilometres within the Bralorne
Gold Project's 33-kilometre-long land package with a maximum width
of approximately 750 metres, down to a maximum depth of
700 metres, with an average depth of 300 metres below surface.
The MRE for the Bralorne Gold Project is comprised of modern data
collected by Talisker and validated historic data collected by previous
operators. A total of 660 diamond drill holes (modern and historic), 13
modern reverse circulation drill holes, 9 modern surface channel
samples and 1724 validated historic underground channel samples
were used to constrain, model, and calculate the resource bodies. A
strong understanding of the controls of mineralization enabled the
Company's technical team to construct a MRE constrained by
lithology, alteration, structure, and mineralization. The MRE is
supported by a robust 3D litho-structural model of the gold-bearing
orogenic vein system.
Next Steps – Exploration Targets
Infill and exploration drilling are ongoing on the Project. The Company
believes that exploration potential exists as proximal extensions of
currently defined mineralized zones, laterally and at depth, and may
yield somewhere between 2.0 and 2.5 million tonnes at grades
between 6.0 and 9.0 g/t gold for 400,000 – 700,000 ounces gold. This
exploration potential is supported by the drill hole and channel sample
data used for the 2023 MRE at drill hole spacings greater than the
inferred category resources. These targets are not mineral resource
estimates, potential quantity and grade is conceptual in nature. There
has been insufficient exploration to define a mineral resource, and it is
uncertain if further exploration will result in the exploration targets
being delineated as a mineral resource.
Table 2: Exploration Targets
Million Tonnes Grade (g/t Au) Au (oz)
2 – 2.5 6.0 – 9.0 400,000 – 700,000
In addition, there are 23 veins with one or more conceptual targets
that have been identified based on non-compliant historic data. Non-
compliant data does not meet the CIM requirements for the NI 43-101
standards of disclosure and may include assays from a lab that is not
ISO certified, or drill holes without downhole survey data. These
conceptual targets have not yet been drill tested by Talisker.
Talisker would like to thank present and past Bralorne Gold Mines
exploration staff whose hard work and dedication made this inaugural
resource possible. We appreciate your efforts in helping to revitalize
BC's highest grade and largest producing gold mine. We look forward
to a bright future for the Bralorne Camp.
Technical Report
A technical report for the Bralorne Gold Project and the MRE,
prepared in accordance with NI 43-101, will be filed under the
Company's profile on SEDAR at www.sedar.com within 45 days of this
news release. Readers are encouraged to read the technical report in
its entirety, including all qualifications, assumptions, exclusions and
risks that relate to the MRE. The technical report is intended to be
read as a whole, and sections should not be read or relied upon out of
context.
Qualified Person
The technical information contained in this news release relating to the
Mineral Resource Estimate results at the Bralorne Gold Project has
been approved internally by Leonardo de Souza (BSc, AusIMM (CP)
Membership 224827), Talisker's Vice President, Exploration and
Resource Development, who is a "qualified person" within the
meaning of National Instrument 43-101, Standards of Disclosure for
Mineral Projects.
The independent qualified persons responsible for the MRE of the
Bralorne Gold Project, as defined in NI 43-101, are Mr. Carl Pelletier,
P. Geo., Mr. Vincent Nadeau-Benoit, P. Geo., and Mr Eric Lecomte,
P.Eng., of InnovExplo Inc. Mr. Pelletier, Nadeau-Benoit, and Lecomte
have read and approved the scientific and technical information
relating to the MRE contained in this press release.
About Talisker Resources Ltd.
Talisker (taliskerresources.com) is a junior resource company involved
in the exploration of gold projects in British Columbia, Canada.
Talisker's projects include two advanced stage projects, the Bralorne
Gold Complex, and the Ladner Gold Project, both advanced stage
projects with significant exploration potential from historical high-grade
producing gold mines, as well as its Spences Bridge Project where the
Company holds ~85% of the emerging Spences Bridge Gold Belt, and
several other early-stage Greenfields projects. With its properties
comprising 304,931 hectares over 500 claims, three leases and 197
crown grant claims, Talisker is a dominant exploration player in south-
central British Columbia.
Sample Preparation and QAQC
Drill core at the Bralorne Gold Project is drilled in HQ to NQ size
ranges (63.5mm and 47.6mm, respectively). Drill core samples are
between 50 cm and 160 cm in length along the core axis. Samples are
focused on an interval of interest, such as a vein or zone of
mineralization. Shoulder samples bracket the interval of interest such
that a total sampled core length of not less than 3m both above and
below the interval of interest must be assigned. Sample QAQC
measures of unmarked certified reference materials (CRMs), blanks,
and duplicates are inserted into the sample sequence and makeup 9%
of the samples submitted to the lab for holes reported in this release.
ALS Global performs sample preparation and analyses in North
Vancouver, British Columbia. Drill core sample preparation includes
drying in an oven at a maximum temperature of 60°C, fine crushing of
the sample to at least 70% passing less than 2 mm, sample splitting
using a riffle splitter, and pulverizing a 250 g split to at least 85%
passing 75 microns (ALS code PREP-31). Gold in diamond drill core
is analyzed by fire assay and atomic absorption spectroscopy (AAS)
of a 50g sample (ALS code Au-AA26), while multi-element chemistry
is analyzed by 4-Acid digestion of a 0.25 g sample split with detection
by inductively coupled plasma mass spectrometer (ICP-MS) for 48
elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga,
Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc,
Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Gold assay
technique (ALS code Au-AA26) has an upper detection limit of 100
ppm. Any sample that produces an over-limit gold value via the gold
assay technique is sent for gravimetric finish (ALS method Au-GRA22)
which has an upper detection limit of 10,000 ppm Au.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-
looking information. These statements relate to future events or future
performance. The use of any of the words "could", "intend", "expect",
"believe", "will", "projected", "estimated" and similar expressions and
statements relating to matters that are not historical facts are intended
to identify forward-looking information and are based on Talisker's
current belief or assumptions as to the outcome and timing of such
future events. Various assumptions or factors are typically applied in
drawing conclusions or making the forecasts or projections set out in
forward-looking information. Those assumptions and factors are
based on information currently available to Talisker. Although such
statements are based on reasonable assumptions of Talisker's