Talisker Resources to form JV at Ladner gold tailings project, British Columbia
Talisker Resources Ltd. [TSX-TSK; OTCQX-TSKFF] signed a non-binding letter of intent (LOI) to form a joint venture (JV) with Regeneration Enterprises Inc. to process the Ladner gold project tailings resource located 150 km east of Vancouver, BC and 18 km from Hope, BC, owned by New Carolin Gold Corp., a 100%-owned subsidiary of Talisker.
Ladner contains a NI 43-101-compliant tailings indicated resource of 445,000 tonnes grading at 1.64 g/t for 24,000 ounces of gold and an inferred resource of 93,000 tonnes grading at 1.64 g/t for 5,000 oz of gold, representing an estimated 60% of the tailings material. The remaining 40% remains undrilled.
A 2011 study by the Engineering Department at University of British Columbia consisting of material regrind to P80 of 93 micrometres returned average concentrate leach recoveries of 81.6% for the tailings material.
The proposed JV is planned to be undertaken in five phases. Regeneration will secure financing for each phase, unless otherwise agreed in the definitive agreement:
Phase 1 sampling – characterization, technology evaluation and engineering design, and environmental assessment and restoration planning – completion by Dec. 31, 2024.
Phase 2 design – costing, environmental and risk assessment, and permitting – completion by December 31, 2025.
Phase 3 – construction – completion by December 31, 2026.
Phase 4 – production – throughout 2027, 2028 and 2029.
Phase 5 – site rehabilitation – completion by December 31, 2030.
The above dates and timelines are indicative and may change by mutual agreement. Talisker and Regeneration have agreed to share the net profit of the Proposed JV. There is a provision for Talisker to secure the transfer of certain, useful infrastructure and equipment on termination of the Proposed JV.
Regeneration is a public benefit corporation incorporated in Delaware, USA. As a privately held social enterprise, Regeneration identifies and transforms legacy mining sites into ecological assets while producing needed minerals. Regeneration’s mission is to foster biodiversity, community, and climate positive minerals for the energy transition, green tech, and sustainable brands through remining, reprocessing, and restoration.
Regeneration’s full value mining strategy utilizes new technologies and methods to safely remine and reprocess tailings, waste rock, and water to extract minerals and metals. RESOLVE, a Washington DC non-governmental organization that launched Regeneration, is the majority shareholder.
Terry Harbort, Talisker’s President and CEO commented, “We are excited to be part of Regeneration’s exciting vision to transform legacy sites for the benefit of all stakeholders. The business allows for the recovery of significant ounces of gold and complete rehabilitation of the historic tailings facility at Ladner. Having the Proposed JV funded and managed by Regeneration allows Talisker to advance a secondary business while remaining focused on our flagship Bralorne asset, currently transitioning into production.”
Stephen D’Esposito President and CEO of Regeneration commented, “We see significant, potential value in recovering gold from waste while supporting restoration of the site. This formula, treating legacy sites as remining and restoration opportunities, has value across British Columbia and the rest of Canada. With this important first step we now have work to do with First Nations, technology innovators, and the province.”
Talisker’s flagship asset is the high-grade, fully permitted Bralorne Gold Project where the company is currently transitioning into underground production at the Mustang Mine. Talisker projects also include the Ladner Gold Project, an advanced stage project with significant exploration potential from an historical high-grade producing gold mine and the Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt, and several other early-stage Greenfields projects.