Australia’s Talisman Mining has been granted a new tenement, EL 9679, representing a large porphyry-style copper and gold target about 30 km east of Dubbo in the Macquarie Volcanic Arc of New South Wales.

Named Yarindury, the project lies in the same geological and mineralised belt as fellow ASX-listed Alkane Resources’ Boda-Kaiser project, which has a mineral resource of 8.3-million ounces of contained gold and 1.5-million tonnes of contained copper.

In addition, Yarindury displays rock units and geological anomalies similar to Newmont’s Cadia deposit, which is located about 100 km to the south.

The Yarindury project was previously held by Alice Queen, which completed two diamond drill holes (MEMD0001 and MEMD0002) in joint venture with Newcrest in 2018. MEMD0001 intersected favourable rock units with weakly anomalous copper and gold. However, no drilling has been completed over the largest and strongest amplitude magnetic anomaly on the western boundary of the Molong Volcanic Belt.

Talisman MD Andrew Munckton commented that the acquisition of  Yarindury offered an exciting addition to the company’s exploration portfolio.

“At a time of strengthening copper and gold prices around the world, this new project offers exploration exposure to the Tier 1 Molong Volcanic Belt, which hosts several major porphyry-style copper/gold deposits. Yarindury’s location within the Molong Volcanic Belt and its side-by-side comparison with the world-class Cadia Ridgeway deposits clearly demonstrates the significant scale of the opportunity,” he says.

Munckton reports that an initial diamond drilling programme will start once the New South Wales grants approvals are received.

“This initial phase of drilling will provide us with detailed geological context as to the potential style and scale of copper/gold mineralisation associated with the large geophysical anomaly.”

The Yarindury project is complementary to the advanced exploration at Talisman’s Durnings project. The recent exciting exploration results at Durnings will be followed up as quickly as possible once access to the project is re-established following recent heavy rainfall in late June, notes Munckton.