Talisker Resources Ltd. (CSE:TSK) (OTCQB:TSKFF) is pleased to announce that the Company has entered into an agreement with Discovery Metals Corp. to acquire a 100% interest in the Congress Property located contiguous to the Company’s Bralorne Gold Project in southwestern British Columbia.
The Congress Property is located directly north of the historic Bralorne-Pioneer mine and consists of 20 mineral claims, three mining leases and eight crown grants totaling 2,675.50 hectares. The property contains a historic indicated and inferred resource of 192,638 tonnes grading at 9.24 g/t for 57,234 oz (Mine Development Assessment Process – Congress Project Stage 1 Report, September 1988) defined by underground sampling and surface and underground drilling. As the report was prepared prior to NI 43-101 standards for disclosure, Talisker does not know the relationship of the historic resource categories. Talisker has no knowledge of the reliability of the historic resource. Additional drilling and sampling and quality control will be required to verify and upgrade the historical estimate. Talisker’s qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and the Company is not treating the historical estimate as a current mineral resource.
Several highly prospective exploration targets are present on the ground including the Lou zone with historic drilling intersecting zones ranging from 1.4 to 4 meters with grades between 5 and 11 g/t Au. Eight separate vein zones have been identified away from the Congress and Lou zones. The Company notes that a qualified person has not verified the data disclosed in respect of the property, including sampling, analytical and test data underlying this information. The data comes from historic reports prepared by previous owners. The acquisition is subject to the approval of the Canadian Securities Exchange.
Under the terms of the purchase agreement, Talisker will issue 1,000,000 common shares to Discovery Metals Corp. in return for 100% ownership of the Congress Property. The common shares are subject to a four month hold period pursuant to applicable securities laws and further subject to certain resale restrictions for up to one year.
Terry Harbort, President & CEO of Talisker commented, “With the acquisition of the Congress Property and the previously announced acquisitions of the Royalle Claims and Naikun Crown Grants, the Bralorne Gold Project now comprises 7,791 hectares over 51 mineral claims, three mining leases and 181 Crown grants. Talisker will be aggressively exploring to unlock the mineral potential along the entire 33 kilometres trend now 100% controlled by the Company.”
About Talisker Resources Ltd.
Talisker is a junior resource company involved in the exploration of gold projects in British Columbia, Canada. Talisker’s projects include the Bralorne Gold Complex, an advanced stage project with significant exploration potential from a historical high-grade producing gold mine as well as its Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt and several other early stage Greenfields projects. With its properties comprising 277,292 hectares over 312 claims, six leases and 181 crown grant claims, Talisker is a dominant exploration player in the south-central British Columbia. The Company is well funded to advance its aggressive systematic exploration program at its projects.
The technical information contained in this news release has been approved by Leonardo de Souza (BSc, AusIMM (CP) Membership 224827), Talisker’s Vice President, Exploration and Resource Development, who is a “qualified person” within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.
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