The Golden Hornet Project comprises 13 mineral claims encompassing 2,206.03 hectares (the "Property") and are strategic mineral claims covering known intrusion related gold vein systems
Talisker Resources Ltd. (“Talisker” or the “Company”) (CSE:TSK | OTCQB:TSKFF) is pleased to announce that the Company has entered into an option agreement with an arm’s length party for the Golden Hornet Project further expanding the Company’s land position in the Bluejay Project. The Golden Hornet Project comprises 13 mineral claims encompassing 2,206.03 hectares (the “Property”) and are strategic mineral claims covering known intrusion related gold vein systems.
Terry Harbort, President & CEO of Talisker stated, “The Golden Hornet Project, adds an advanced stage exploration property to our portfolio contiguous with our existing BlueJay project. We plan to initiate permitting immediately to drill test the main zone and test geochemical anomalies along strike.”
Under the term of the option agreement, Talisker can acquire 100% of the Property in exchange for payments totaling $145,000 in cash and 575,000 common shares, payable as to $10,000 cash on signing and 50,000 common shares, $10,000 in cash and 50,000 common shares on the first anniversary, $25,000 cash and 75,000 common shares on the second anniversary, $50,000 cash and 150,000 common shares on the third anniversary, and $50,000 cash and 250,000 common shares on the fourth anniversary and to expend $60,000 per year over four years. The option agreement is also subject to a share bonus of one common share per ounce of gold equivalent in the inferred or greater category to a maximum of 200,000 common shares and a 2% NSR. Talisker has the right to purchase 100% of the NSR for $1,000,000.
Previous work on the Golden Hornet zone consists of a NW trending sheet vein system with trench sample intercepts of 21.1g/t gold over 5.1 meters and 4.17 g/t gold over 14 meters. Confirmation grab sampling of the veins returned values of 26.1g/t and 12g/t gold. The Company notes that these selected samples are not necessarily representative of the mineralization hosted on the Property. Limited drilling has been completed within the Project.
The option is subject to the approval of the Canadian Securities Exchange (the “CSE”).
Source: Company Press Release