Talisker releases B.C. gold mine development update
Talisker Resources Ltd. [TSX-TSK, TSKFF-OTCQB] said it has completed the Mustang Mine decline to the 3700 level at its 100%-owned Bralorne gold project in British Columbia.
The company said the 4.0 by 4.0-metre development over a distance of 400 metres will allow for simultaneous access to planned stopes on the 3700, 3800 and 3900 levels. Additional development was completed to prepare for the extension of the decline to access lower stopes from the 3600 to 3500 levels and for a new decline close to the portal to access new material to the east of Mustang.
“With the haulage pathways to surface now complete, we are focused on the planning and preparation for in-stope development,’’ said Talisker President and CEO Terry Harbort. “Our resource conversion drill program continues as planned with results so far exceeding expectations,’’ he said. “We look forward to assay results shortly.
Talisker shares were unchanged at 34 cents and trade in a 52-week range of 39 cents and $0.065.
Talisker is engaged in gold exploration at two advanced gold projects in British Columbia with significant exploration potential and historic high grade gold production. They are the Bralorne Gold Complex and Ladner project.
Another key asset is an 85% interest in the Spences Bridge Gold Belt and several other early stage greenfield projects.
The Bralorne mine complex was one of the highest-grade and longest producing gold mines in British Columbia. It operated for over 50 years. The complex consisted of three mines – Bralorne, Pioneer, and King – which produced 4.2 million ounces of gold at an average recovered grade of 17.7 g/t.
Production ceased in 1971 due to the low gold price at the time.
Bralorne is estimated to contain an indicated resource of 33,000 ounces of gold, and an inferred resource of 1.6 million ounces.