Since rewarding shareholders with a A$0.22/share return of capital and fully franked dividend from the sale of the 30% share in the Springfield JV in WA to Sandfire Resources (ASX: SFR, “Sandfire”), Talisman Mining Limited (“Talisman” or “the Company”) is now concentrating exploration activities on the Cobar Basin in the Lachlan Fold Belt (“LFB”) of New South Wales.
The Cobar Basin, which is the most mineralised poly-metallic basin in New South Wales, has a long history of mining dating back to 1871, and is the home to a number of past and present major base and precious metal operations, including, amongst others CSA and the Peak. The region continues to deliver very strong results from exploration, with our view being that further economically viable discoveries are still to be made.
Following the discovery of Monty (adjacent to Sandfire’s DeGrussa operation), and the subsequent JV with Sandfire, the Company reviewed exploration opportunities in highly prospective terranes, and settled on the Cobar Basin – this has resulted in Talisman putting together a largely contiguous package of exploration ground over the highly prospective and prolific, but for all intents and purposes underexplored Canbelego-Mineral Hill Rift Zone on the eastern edge of the basin.
