Talisker Resources poised to trade on TSX
Talisker Resources Ltd. [TSK-CSE; TSKFF-OTCQB] said Friday October 9 it has received final approval from the Toronto Stock Exchange to list its common shares on the TSX. The shares are expected to begin trading on the TSX on October 14, 2020.
As a result, the company said it will submit a request to voluntarily delist is common shares on the Canadian Securities Exchange after the close of trading on October 13, 2020.
Talisker is engaged in the exploration of gold projects in British Columbia. Its portfolio includes the Bralorne Gold Project, an advanced stage project, which the company acquired in December, 2019.
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.
Talisker and Westhaven Ventures Inc. [WHN-TSXV] have a combined control of 86% of the Spences Bridge Gold Belt (SBGB) [225,000 hectares], an area that the company believes is highly prospective for epithermal type gold mineralization.
The SBGB is a 110-km northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge Group.
Talisker recently raised $23 million from a bought deal private placement offering of 28.3 million units priced at 46 cents each and 15.6 million charity flow-through share units at 64 cents per unit.
Each unit and flow-through unit was comprised of one common share of the company and one-half of a warrant. Each warrant is good to buy one common share at an exercise price of 70 cents until August 13, 2021.
Back in July, the company said it was stepping up drilling at the Bralorne Gold Project by adding a second drill rig. In addition, Talisker said it will increase its drill plan to 17,000 metres from 11,200 metres. The aim is to target high-grade veins.
Drill hole results disclosed in April and May, 2020, from the two drill holes that targeted the Pioneer Mine area yielded encouraging results with 27.3 g/t gold over 0.6 metres, and 32.2 g/t gold over 0.97 metres.
When Talisker acquired the Bralorne project in November, 2019, it said that with more than 60 veins identified, many open along strike and at depth, and with demonstrated high-grade continuity from historic sampling, the project represents an opportunity to add significant ounces.
On Friday, shares were up 4% or $0.015 to 39.5 cents on a volume of 1.54 million. Shares are currently trading in a 52-week range of 65 cents and 14 cents.