Talisker Resources (TSK-Cse) overhead cost for team of 22 geologists?
Aug 22, '19 - NR
Talisker Resources is pleased to provide an update on the Company’s Phase 1 regional geochemical program being undertaken on its 100% owned claims covering the majority of the Spences Bridge Gold Belt. A team of 22 geologists is executing the 4,500 sample program, collecting silt fraction (177µm) samples from first and select second order drainage basins.
To date, a total of 1,988 planned samples sites have reviewed with 1,207 stream sediment samples collected. Of the planned sample sites, 781 were discarded due to either insufficient drainage incision, poor stream channel development, insufficient sediment material or overwhelming input from colluvial media. A total of 902 assays from ultra-trace ICP-MS analysis have been received with 305 currently outstanding. Geostatistical analysis of assay results has identified 17 anomalous basins within the 98th percentile defined by values above 32 ppb Au as outlined in the table below. A total of seven basins have been identified as highly anomalous with values above 100 ppb Au (0.1g/t) to a maximum returned value of 315 ppb Au (0.315 g/t). Mean sediment background value (50th percentile) has been identified as 1 ppb Au.
“We are very pleased with the progress of our sampling team so far executing our planned program ahead of time and under budget,” commented Terry Harbort, President & CEO of Talisker who added, “To put these results into perspective for our shareholders, we are seeing anomalies enriched from 30 to 300 times normal background values. Westhaven Venture’s Shovelnose discovery was based on a 68ppb gold stream sediment anomaly (https://aris.empr.gov.bc.ca/ArisReports/28704.PDF). At this stage of our project we have identified 10 basins with more than this level of gold.”
| Table of Significant Stream Sediment Results | | Sample ID | Au (ppb) | Sample ID | Au (ppb) | Sample ID | Au (ppb) | | A0672501 | 315 | A0673187 | 52.9 | A0673452 | 150 | | A0672573 | 212 | A0673226 | 260 | A0673546 | 75.5 | | A0672599 | 71.5 | A0673275 | 32.1 | A0673628 | 239 | | A0673134 | 233 | A0673283 | 84.4 | A0673971 | 41.1 | | A0673155 | 46.3 | A0673323 | 49.5 | A0673982 | 149 | | A0673167 | 59.3 | A0673434 | 37.5 | | |
A full summary of results to date is available on the Talisker Resources website.
Talisker has scheduled an update call for interested parties at 12:00 pm ET on Monday, August 26, 2019 hosted by Terry Harbort, President & CEO. To participate, click on the following link – call in details will be available once you log in - s3communications.us9.list-manage.com.
About Talisker Resources Ltd.
Talisker Resources Ltd. is a junior resource company involved in the exploration and development of projects in British Columbia, Canada. Talisker’s projects consist of several early to advanced stage projects. The Toodoggone projects located in the prolific Golden Triangle include the past producing Baker Gold/Silver Project, the Shasta Mine and Baker mill infrastructure and equipment, the Chappelle (Baker and Multinational Mines) Property, the Mets Lease and the Bot Property. South Central B.C. projects include the Tulox Property, the WCGG Properties, and the Spences Bridge Regional Program, a 265,582 hectare land package covering 70% of the Spences Bridge Gold Belt.
For further information on this press release, please contact Terry Harbort, Chief Executive Officer of Talisker at terry.harbort@taliskerresources.com.
Sample Preparation and QAQC
Sample preparation and analyses is carried out by ALS Global, at their laboratory in North Vancouver, British Columbia, Canada. Stream sediment sample preparation was includes drying in an oven at a maximum temperature of 60°C, sieve samples to -180 micron (-80 mesh), retaining both fractions (PREP-41). Rock sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31).
Gold and multi-elements in stream sediment samples is analyzed by aqua regia digestion of a 50 g sample split with detection by inductively coupled plasma mass spectrometer (ICP-MS) for 53 elements (Au, Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, Hg, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Pd, Pt, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr) (Code AuMe-ST44).
Gold in rock samples is analyzed using fire assay of a 50 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) (code Au-ICP21). Multi-elements are analyzed by aqua regia digestion of a 0.5 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 51 elements (Au, Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, Hg, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr) (code ME-MS41).
Qualified Person
Luis Arteaga M.Sc. P.Geo. Exploration Manager for Sable Resources and the Company's Qualified Person as defined by NI 43-101 has reviewed and approved the technical information in this news release.
The Offering will consist of a combination of common shares (the “Common Shares”), flow-through shares (the “FT Shares”) and charity flow-through shares (the “Charity FT Shares”) of the Company, such FT Shares and Charity FT Shares to qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)), at a price of C$0.14 per Common Share (the “Common Share Price”), C$0.16 per FT Share (the “FT Price”) and C$0.21 per Charity FT Share (“Charity FT Price”), respectively.
The gross proceeds from the sale of FT Shares and Charity FT Shares will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's projects in Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares and Charity FT Shares effective December 31, 2019. The net proceeds from the sale of Common Shares will be used by the Company for working capital and general corporate purposes.
The Offering is expected to close on or about August 29, 2019 and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the CSE and the applicable securities regulatory authorities. The securities issued under the Offering will be subject to a four month hold period from the date of issue in accordance with applicable securities laws. In consideration for their services, the Company has agreed to pay the Agents a cash commission equal to 6.0% of the gross proceeds from the Offering (except in respect of gross proceeds under a president’s list, for which no fees shall be payable), and issue to the Agents non-transferable warrants (“Compensation Warrants”) equal to 6.0% of the aggregate number of Common Shares issued under the Offering. The Compensation Warrants will be exercisable into common shares of the Company at a price per Compensation Warrant equal to the Common Share Price for a period of 24 months from the closing of the Offering.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Talisker Resources Ltd.
Talisker Resources Ltd. is a junior resource company involved in the exploration and development of projects in British Columbia, Canada. Talisker's projects consist of several early to advanced stage projects. The Toodoggone projects located in the prolific Golden Triangle include the past producing Baker Gold/Silver Project, the Shasta Mine and Baker mill infrastructure and equipment, the Chappelle (Baker and Multinational Mines) Property, the Mets Lease and the Bot Property. South Central B.C. projects include the Tulox Property, the WCGG Properties, and the Spences Bridge Regional Program, a 226,881 hectare land package covering 70% of the Spences Bridge Gold Belt.
For further information please contact Terry Harbort, Chief Executive Officer of Talisker at terry.harbort@taliskerresources.com.
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