Talisman MiningLtd. announced a maiden JORC 2012-compliant mineral resource for theMonty copper-gold deposit in Western Australia of 1.05 million tonnes grading 9.4%copper and 1.6 g/t of gold for 99,000 tonnes of contained copper and 55,000 ouncesof contained gold.
The indicated and inferred resource includes a high-grade massivesulfide component of 763,000 tonnes grading 12.1% copper and 2.1 g/t of gold for92,000 tonnes of contained copper and 52,000 ounces of contained gold, the companysaid April 13.
Of the total resource, 99% is reported in the indicated categoryand available for conversion to ore reserves.
The Monty project is part of the company's 30%-owned copper-gold jointventure project in Western Australia with SandfireResources NL, which owns the remaining 70%.
The joint venture will now look for "the optimal pathwayto unlock the value of the Monty deposit" and focus on exploration in the deposit'svicinity, which is believed to have potential for further VMS mineralization.
The Monty discovery has opened up the highly prospective 5-kilometer-longMonty trend, and reverse-circulation drilling is underway with down-hole electromagneticsurveys to follow, the company wrote.