TLM 2.04% 10.0¢ talisman mining limited

Monty permitting underway

  1. 592 Posts.
    lightbulb Created with Sketch. 24
    Monty permitting underway

    SANDFIRE Resources and Talisman Mining have submitted a mining lease application for the Monty copper-gold project in Western Australia.

    t comes after a high-level study was completed on the development of the deposit, which sits 10km east of Sandfire’s DeGrussa mine.

    The study identified no “fatal flaws” and identified the preferred location for the box-cut and decline entrance portal.

    The MLA covers, which includes all of the known mineralisation, as well as the surrounding area required for infrastructure.

    Some of the mining, administrative and support services are expected to be provided by the existing facilities at DeGrussa. Access will be via a proposed haul road between the two projects.

    Monty has an indicated and inferred resource of 1.05 million tonnes at 9.4% copper and 1.6 grams per tonne gold.

    A feasibility study is underway at Monty, with metallurgical test work, geotechnical studies, and mine design engineering all progressing.

    Monty was discovered by Sandfire last year as part of a farm-in with Talisman Mining. It holes 70% of the project while Talisman holds the balance.

    Sandfire managing director Karl Simich said Monty was a strategic asset that had the potential to make a major contribution to DeGrussa’s production.

    “We look forward to receiving the results of the Monty feasibility study early next year which will include the results of a study on integrating ore feed from Monty into the future production profile at DeGrussa,” he said.

    “We expect that this will pave the way for a positive development decision, allowing the joint venture partners to proceed with the construction of a new satellite underground mining operation at Monty – marking the start of an exciting new growth chapter for the DeGrussa-Doolgunna region.”

    Talisman managing director Dan Madden said the JV hoped to make a development decision once the feasibility study was completed.

    Sandfire and Talisman are still yet to formalise JV agreements for mining and construction, but discussions are progressing.

    In the meantime, exploration will continue with the aim of discovering further volcanogenic massive sulphide lenses.

    There are a number of different programs underway in the Monty area, including surveying and drilling.

    “Given that our exploration focus is also now shifting from inward-looking resource definition to outward-looking exploration along the Monty corridor and at depth, we are confident that our ongoing aggressive exploration activities in this area will yield further success.

    “Our exploration team has been able to leverage off the vast amount of information gleaned from the Monty discovery to sharpen our targeting approach and we have multiple programs now underway, all of which are designed to make the next breakthrough in this highly prospective region.”

    Sandfire shares rose by around 1.5% to $A6.45, while Talisman rose by nearly 6.5% to 45c.
watchlist Created with Sketch. Add TLM (ASX) to my watchlist
(20min delay)
Mkt cap ! $18.66M
Open High Low Value Volume
9.8¢ 10.0¢ 9.8¢ $113.1K 1.134M

Buyers (Bids)

No. Vol. Price($)
1 147000 10.0¢

Sellers (Offers)

Price($) Vol. No.
11.0¢ 353535 4
View Market Depth
Last trade - 16.10pm 01/03/2021 (20 minute delay) ?
0.002 ( 3.09 %)
Open High Low Volume
10.0¢ 10.0¢ 10.0¢ 50000
Last updated 15.58pm 01/03/2021 (live) ?
TLM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.