22:43:20 EDT Mon 06 Apr 2020
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Talisker Resources Ltd
Symbol TSK
Shares Issued 127,042,296
Close 2020-03-26 C$ 0.305
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Talisker expands Bralorne by 3,827 hectares

2020-03-26 14:39 ET - News Release

Mr. Terry Harbort reports


Talisker Resources Ltd. has expanded its land position in the Bralorne gold camp with the acquisition of the Royalle property increasing the strike length of Talisker's 100-per-cent-owned Bralorne gold project. Under the terms of the agreement, Talisker has agreed to pay $60,000 cash and to issue 600,000 common shares of Talisker. The vendor will retain a 1-per-cent net smelter return that Talisker can purchase for $1-million.

The Royalle property consists of four claim blocks comprising 3,827 hectares. The claims sit directly south of the historic Bralorne-Pioneer mine along strike of the Cadwaller break and host eight exploration targets including mesothermal gold and silver veins, and skarn-style mineralization. The main target is the Piebiter zone with historic adit sampling returning gold grades of 4.3 grams per tonne over 21 metres and selective grab samples of up to 227 g/t Au. The Chopper silver vein has been delineated for 2,400 m and with selective grab samples up to 1,585 g/t Ag. The company notes that these selected samples are not necessarily representative of the mineralization hosted on the property and limited drilling has been completed on the property. 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 come from historic reports prepared by previous owners. The acquisition is subject to the approval of the Canadian Securities Exchange.

Talisker has also appointed Leonardo de Souza as vice-president, exploration and resource development. Ruben Padilla, the company's former vice-president, exploration, has been appointed director of geology.

Mr. de Souza holds a bachelor of science from the Universidade de Brasilia, Brazil. He has 35 years of experience in mineral exploration and 21 years in mineral resource estimation. In exploration, his majority experience is in brownfield exploration for gold and copper, having participated in the addition of over nine million ounces of gold resources in the operations of AngloGold in South America, and over two million ounces of gold plus 4.6 billion pounds of copper in resources of the Salobo project in Brazil for Anglo American. In resource estimation, Mr. de Souza's experience spans a range of commodities and deposit styles in a number of countries, performing resource evaluations from grassroots opportunities to feasibility studies and mining operations. Mr. de Souza is a certified professional and member of the Australian Institute of Mining and Metallurgy.

"The acquisition of the Royalle property increases the regional upside potential of the Bralorne gold camp with known mesothermal vein systems and characteristics similar to the Bralrone-Pioneer deposit, adding upside potential to the Bralorne gold project as a whole," stated Terence Harbort, president and chief executive officer, who added on the appointment of Mr. de Souza, "Leonardo provides a wealth of targeting and resource development experience in vein systems similar to Bralorne such as the world-class Cuiaba, Corrego do Sitio and Serra Grande mines in Brazil, and, most recently, by leading the resource modelling at Barkerville Gold Mines' Cariboo project delivering over four million ounces in resources."

Qualified person

The technical information contained in this news release has been approved by Mr. de Souza (BSc, AusIMM (CP) membership No. 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.

About Talisker Resources Ltd.

Talisker Resources Ltd. is a junior resource company involved in the exploration of gold projects in British Columbia. 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 approximately 85 per cent of the emerging Spences Bridge gold belt and several other early-stage greenfield projects.

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