Peel Mining and Talisman Mining today announced that rock-chip sampling and reconnaissance field mapping has commenced at their joint Lachlan copper-gold project in New South Wales.
Under a farm-in agreement between the two explorers, Talisman may earn up to 75 per cent of two exploration licences in the region provided it invests $700,000 of spending over a five-year period.
In addition to Talisman’s sampling and reconnaissance, preparation is underway for geochemical drilling across multiple targets. Following regulatory approvals, Talisman will commence reverse circulation drilling of targeted areas to test anomalies identified from the sampling phase.
Following a highly successful 2017, Peel Mining’s share prices have tripled; the company is responsible for the highly lucrative Wagga Tank project near Cobar, NSW.