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) has reported very long mineralized intervals from drilling at its 100%-owned Bralorne gold project, where it is preparing an initial resource estimate due out in 2022.
In the Pioneer block, Hole 2021-040 extended mineralization 140 metres down plunge and intersected 114.2 metres grading 1.02 g/t gold. This represents part of a longer, 200-metre intersection grading 0.73 g/t gold.
This is part of the bulk-tonnage mineralization discovered in June at Pioneer, located 2 km southeast of Bralorne township.
Above the bulk-tonnage mineralization, recent drilling also intersected the Pioneer main vein, returning 6.4 metres of 7.46 g/t gold.
The Bralorne complex – consisting of the Bralorne, Pioneer and King mines – was one of the highest grade, longest producing gold mines in British Columbia. A total of 4.2 million oz. was produced from an average recovered grade of 17.7 g/t before mining was suspended in 1971.
Only 30 of the 63 known veins were mined, and 29 of them only to a depth of 900 metres. Only the 77T vein went deeper – to 1,900 metres. It remains open at depth as do all the other veins.
Talisker acquired the Bralorne project in November 2019 from Avino Silver and Gold for a cash payment of C$8.7 million plus shares and warrants. Bralorne is fully permitted, including the tailings storage facility.
(This article first appeared in the Canadian Mining Journal)
