Talisman Mining Limited announced that Sandfire Resources NL has provided an update on ongoing exploration drilling being undertaken at the Monty copper-gold discovery within Talisman’s Springfield Project located approximately 10km east of the DeGrussa Copper-Gold Mine.

Two reverse circulation step out drill holes, TLRC0008 and TLRC0009, designed to test potential extensions to the previously reported shallow intercept in TLRC0004 have intersected mineralisation along strike either side of TLRC0004.

Step out hole TLRC0008 has intersected mineralisation approximately 40 metres along strike to the south-west of TLRC0004:

2.0 metres of massive sulphides from 90m to 92m down-hole; and

11.0 metres of massive sulphides from 111m to 122m down-hole, including 1m of siltstone from 114m.

Step out hole TLRC0009 has intersected mineralisation approximately 40 metres along strike to the north-east of TLRC0004:

8.0 metres of massive sulphides from 133m to 141m down- hole; and

1.0 metre of massive sulphides from 158m to 159m down- hole.

Sandfire have advised that RC samples from the holes will be dispatched for assaying.

The delineation along strike, in both directions, of the relatively shallow massive sulphide mineralisation at Monty by these two RC drill holes is considered by Talisman to be very encouraging and adds to the evolving geological understanding and potential scale of this exciting exploration prospect.

Additionally, Sandfire have also advised that RC hole TLRC0006, located 45 metres along strike to the south-west of TLRC0008, drilled through a sequence of siltstones and dolerites to a depth of 187m down-hole. From 187m to the end of hole, TLRC0006 drilled through a strongly sheared sequence which included dolerites, siltstones and basalt.

Other Exploration Activities

Sandfire have advised that they have also completed diamond drill holes TLDD0015 and TLDD0016. The holes were drilled approximately 166 metres up dip of TLDD0010 and 134 metres up dip of TLDD0009 respectively.

Both holes, intersected the prospective sedimentary horizon. Diamond drill hole TLDD0016 intersected exhalative haematitic alteration and trace sulphides from 167m to 170m down hole.

Talisman interprets that the stratigraphy in the area drilled by these two holes steepens which has led to an interpretation that TLDD0015 and TLDD0016 have intersected the host horizon above the projected plunge of the deeper intersected massive sulphide mineralisation. This interpretation is based on the geological interpretation first released in the ASX announcement dated 8 September 2015.

It is important to note that these two drill holes were collared and targeted by Sandfire prior to the development of their recent advance in the understanding of the orientation of the mineralisation at Monty. They are located up-dip of existing deep drilling intercepts and lie above the limits of the vertical longitudinal section.

Sandfire is continuing drilling activities at Monty with additional diamond holes underway and planned to test for extensions of the mineralisation both up and down-plunge, up and down-dip and along strike. Drilling is being supported by down-hole EM surveys.