Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Talisker Resources (TSX: TSK) announced additional high-grade drill results highlighted by 86.5 g/t gold over 1.5 metres within a broader interval of 14.31 g/t over 9.6 metres in the BK-9870 vein at its flagship Bralorne gold project.
The 100%-owned past-producing Bralorne gold mine near Lilloet, BC, was one of the largest, highest-grade, longest producing mines in the province. It closed in 1971 when gold was selling at only $35 per ounce. The current project includes Bralorne and the historic Pioneer and King mines. Together they produced 4.2 million oz. of gold from ore with an average grade of 17.7 g/t gold.
Talisker is working on 15,000 metres of resource conversion drilling in preparation for resuming production. The same hole mentioned above (SB-2023-016) also intersected 21.86 g/t gold over 3 metres in the BK vein. Hole SB-2023-031 cut 8.53 g/t gold over 3.5 metres, again on the BK-9870 vein.
“As we near the beginning of production at the Mustang mine, we continue to build further confidence in the first five years of the mine plan. The exceptional high-grade intersects demonstrate the grade continuity within the veins. The consistent mineralization in the hanging wall and footwall breccias lowers overall dilution,” said Talisker CEO Terry Harbort.
Production from the Mustang gold mine is expected in the first half of this year.
Over 150,000 metres of drilling has been completed at the Bralorne project, and gold mineralization has been confirmed to a depth of 2 km. An initial resource estimate was made in January 2023, and it includes the Bralorne, King, Charlotte and Pioneer deposits over a strike length of 4.5 km.
The indicated portion was 117,300 tonnes grading 8.85 g/t gold, for 33,400 contained ounces. The inferred portion was 8 million tonnes grading 6.32 g/t gold, for 1.6 million contained ounces.
