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) is preparing the initial resource estimate for its flagship Bralorne gold project about 230 km northwest of Vancouver. The project includes the former Bralorne, Pioneer and King mines that produced a total of 4.2 million oz. of gold from ore averaging 17.7 g/t.
The company says its property hosts 63 known veins, only 30 of which were mined. Only the 77T vein was mined below 900 metres, to a depth of 1,900 metres. All the veins remain open at depth and many, including 77T, are open along strike.
Talisker has chosen 11 veins that will be included in the new estimate – six from the Bralorne area, two from King, and three from Pioneer. The veins have weighted average grades from 6.2 to 16.6 g/t gold, with an overall average of 9.6 g/t gold. The veins have widths from 1.1 to 2.1 metres, and all are defined from surface to a depth of 700 metres. The defined veins are mostly located within the gaps between the historic mines.
Multiple other veins have been intersected during recent drilling; however, the company has not yet confirmed if these veins are sufficiently defined to be included in the upcoming resource estimate.
“We are particularly encouraged by the increased average width of our drilled veins when compared to the historically known averages,” said CEO Terry Harbort in a news release. “The strike and plunge dimensions of the veins defined by our drilling strongly confirm the historically demonstrated structural continuity of the host structures.”
Talisker also believes that there is district-scale potential near Bralorne. Over 40 mineral occurrences have been identified on the company’s property and there are additional brownfields drill targets outside the camp area.
Besides the Bralorne gold project, Talisker is active on the Golden Hornet gold discovery, the Ladner project, and the Spences Bridge gold project.
