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Talisker Acquires Congress Property Further Extending the Bralorne Gold Project
Apr. 09, 2020 04:18PM PST
Precious Metals
Talisker Resources Ltd. (CSE:TSK) (OTCQB:TSKFF) has entered into an agreement with Discovery Metals Corp. to acquire a 100% interest in the Congress Property located contiguous to the Company’s Bralorne Gold Project in southwestern British Columbia.
Talisker Resources Ltd. (“Talisker” or the “Company”) (CSE:TSK) (OTCQB:TSKFF) is pleased to announce that the Company has entered into an agreement with Discovery Metals Corp. to acquire a 100% interest in the Congress Property located contiguous to the Company’s Bralorne Gold Project in southwestern British Columbia.
The Congress Property is located directly north of the historic Bralorne-Pioneer mine and consists of 20 mineral claims, three mining leases and eight crown grants totaling 2,675.50 hectares. The property contains a historic indicated and inferred resource of 192,638 tonnes grading at 9.24 g/t for 57,234 oz (Mine Development Assessment Process – Congress Project Stage 1 Report, September 1988) defined by underground sampling and surface and underground drilling. As the report was prepared prior to NI 43-101 standards for disclosure, Talisker does not know the relationship of the historic resource categories. Talisker has no knowledge of the reliability of the historic resource. Additional drilling and sampling and quality control will be required to verify and upgrade the historical estimate. Talisker’s qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and the Company is not treating the historical estimate as a current mineral resource.
Several highly prospective exploration targets are present on the ground including the Lou zone with historic drilling intersecting zones ranging from 1.4 to 4 meters with grades between 5 and 11 g/t Au. Eight separate vein zones have been identified away from the Congress and Lou zones. The Company notes that a qualified person has not verified the data disclosed in respect of the property, including sampling, analytical and test data underlying this information. The data comes from historic reports prepared by previous owners. The acquisition is subject to the approval of the Canadian Securities Exchange.
Under the terms of the purchase agreement, Talisker will issue 1,000,000 common shares to Discovery Metals Corp. in return for 100% ownership of the Congress Property. The common shares are subject to a four month hold period pursuant to applicable securities laws and further subject to certain resale restrictions for up to one year.
Terry Harbort, President & CEO of Talisker commented, “With the acquisition of the Congress Property and the previously announced acquisitions of the Royalle Claims and Naikun Crown Grants, the Bralorne Gold Project now comprises 7,791 hectares over 51 mineral claims, three mining leases and 181 Crown grants. Talisker will be aggressively exploring to unlock the mineral potential along the entire 33 kilometres trend now 100% controlled by the Company.”
About Talisker Resources Ltd.
Talisker (taliskerresources.com) is a junior resource company involved in the exploration of gold projects in British Columbia, Canada. Talisker’s projects include the Bralorne Gold Complex, an advanced stage project with significant exploration potential from a historical high-grade producing gold mine as well as its Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt and several other early stage Greenfields projects. With its properties comprising 277,292 hectares over 312 claims, six leases and 181 crown grant claims, Talisker is a dominant exploration player in the south-central British Columbia. The Company is well funded to advance its aggressive systematic exploration program at its projects.
Qualified Person
The technical information contained in this news release has been approved by Leonardo de Souza (BSc, AusIMM (CP) Membership 224827), Talisker’s Vice President, Exploration and Resource Development, who is a “qualified person” within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the operations of the Company and the timing which could be affected by the current global COVID-19 pandemic. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
While Talisker considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.
The forward-looking information contained in this release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
