Sat, 31 Jul 2021

TORONTO, ON / ACCESSWIRE / June 22, 2021 / Talisker Resources Ltd. ('Talisker' or the 'Company') (TSX:TSK)(OTCQX:TSKFF)is pleased to announce complete and partial drill assay results from its ongoing 100,000 metre drill program at the Bralorne Gold Project in British Columbia (see Figure 1). Today's release is headlined by a 106.75 metre interval of near-surface bulk-tonnage gold mineralization within the Pioneer Block that returned an average grade of 1.17 g/t gold in hole SB-2021-026 (see Figure 1); assay results are also included for holes SB-2021-022 and SB-2021-029 drilled within the Pioneer Block. This near-surface gold mineralization at Pioneer is hosted in a coarse-grained felsic intrusive and is characterized by excellent grade consistency (see Table 2). More drilling is required to determine the lateral and vertical extents and geometry of the felsic intrusive hosting these broad zones of near-surface gold mineralization at Pioneer. With five drill rigs operating on site, the Company expects to receive more assay results from both the Charlotte Zone (0 to 350m) and the High-Grade Zone (350 to 750m) soon.

Key Points:

  • The host of the mineralization, coarse-grained felsic intrusive has been defined for 3,200m along strike, is open at depth beyond 1,000m and averages 250m wide in the central area tapering to 50m width at the ends of the body (see Figure 1).
  • Mineralization is characterized by a well-distributed vein network of smaller veins (similar to the Charlotte Zone) distributed between the larger veins that are the defining characteristic of the classical Bralorne deposit.
  • The intrusive-hosted mineralization was first intercepted at Pioneer in Talisker's first hole at Bralorne, SB-2020-001 intersecting 98.95m at 0.54 g/t. A second hole, SB-2020-002 also intersected the edge of the body returning 23m grading 0.40 g/t.
  • The distribution of the vein fracture network provides a consistency of grade over a broad intercept (see results table below).
  • Five additional holes have been drilled targeting the intrusive body (SB-2021-030, SB-2021-034, SB-2021-035, SB-2021-040) all intersecting multiple vein zones with visible gold (see Table 1) the best of which, SB-2021-040 intercepted 22 major vein zones with 12 occurrences of visible gold.
  • Talisker currently has five drill rigs on site and has completed 38,860 metres of its current 100,000 metre drill program, A sixth drill rig is expected to arrive early in July.

Grade Consistency a Key Highlight at Pioneer

The 1.17 g/t gold over 106.75m intersection in hole SB-2021-026 drilled at the Pioneer Block represents the broadest and most consistent interval drilled at the Pioneer Block to date, and supports the Company's interpretations that near-surface bulk tonnage gold mineralization extends well beyond the Charlotte Zone to the northwest (see Figure 1 and 2). Importantly, the grade profile through this 106.75m intersection, in addition to the broad zones of mineralization intersected in holes SB-2021-022 and SB-2021-029, shows excellent consistency; hole SB-2021-26 also includes several narrower zones of high-grade gold mineralization highlighted by 67.80 g/t gold over 0.55m.

Today's assay results are exclusively from drilling at the Pioneer Block. While hole SB-2021-26 remains the highlight with 1.17 g/t gold over 106.75m, hole SB-2021-22 also returned consistent, broad zones of gold mineralization including 0.59 g/t gold over 16.40m and 0.32 g/t gold over 31.75m, which follows from holes SB-2020-001 and SB-2020-02 drilled last year, both of which returned 0.54 g/t gold over 98.95m and 0.40 g/t gold over 23.00m respectively.

Pioneer Block

The Pioneer zone was periodically mined between 1945 and 1965 with production from eight veins. The coarse-grained felsic intrusive (CGFI) hosting these broad zones of gold mineralization at Pioneer is a vertical intrusive body that outcrops at surface. The CGFI is intruded by fine-grained felsic and intermediate-mafic dykes (both is which also host gold mineralization). The intrusive body is bound by a basaltic unit to the northeast and the Cadwaller Fault to the southwest; however, the lateral and vertical extents and geometry of the CGFI remains unknown due to limited drilling. An additional hole is planned 'up-plunge' of hole SB-2021-26 to determine the proximity of gold mineralization relative to the surface. Gold mineralization is characterized by a high-density network of quartz veins interspersed with larger veins between 0.20m to 1m wide that include crack and seal textures and minor pyrite and arsenopyrite and periodic occurrences of visible gold (see Table 1).

Terry Harbort, President and CEO of Talisker commented, 'As drilling at the Charlotte Zone continues to define near-surface, bulk tonnage gold mineralization, we are pleased to see similar near-surface gold mineralization at the Pioneer Block, located over 2km to the southeast. This follows the discovery of near-surface gold mineralization at the King Block (see press release of April 7, 2021). We are particularly impressed by the grade consistency at Pioneer, and drilling is planned to determine the lateral and vertical extents of this gold-mineralized intrusive body. Together with the King Block, we have now identified three zones of near-surface gold mineralization distributed over a 3.8km strike length, with areas between the three zones still to be tested. With five drill rigs operating, we have a large backlog of samples at the lab and we expect this backlog to be reduced as the assay lab returns to normal operations. We remain on track to deliver our initial mineral resource estimate from Bralorne in 2022.'

Drill Hole Data

SB-2021-022 - Pioneer Block

  • Complete assay results have been received for this hole.
  • An unknown vein zone was intersected at 92.10m and produced 0.59 g/t Au over 16.40m, including 1.02 g/t over 5.75m.
  • An unknown vein zone was intersected at 138.80m and produced 1.04 g/t Au over 3.20m.
  • An unknown vein zone was intersected at 174.10m and produced 1.49 g/t Au over 4.50m, including 1.86 g/t over 3.10m.
  • An unknown vein was intersected at 207.1m and produced 1.64 g/t Au over 2.15m.
  • The Main Vein was intersected at 269.9m and produced 3.26 g/t Au over 1.55m.
  • The J Vein was intersected at 332.25m and produced 2.05 g/t Au over 3.30m, including 2.83 g/t over 1.70m at 333.35m.
  • The Pioneer CGFI Zone was intersected at 345.45m and produced 0.32 g/t Au over 31.75m, including an unknown vein zone from 352.00 producing 0.56 g/t over 5.6m.
  • This hole drilled to a final depth of 404.0 m on March 30, 2021.

SB-2021-026 - Pioneer Block

  • Complete preliminary assay results have been received for this hole.
  • An unknown vein zone was intersected at 135.15m and produced 0.75 g/t Au over 2.15m.
  • An unknown vein was intersected at 168.00m and produced 11.55 g/t Au over 0.55m.
  • The Main Hanging Wall Vein was intersected at 222.00m and 0.89 g/t Au over 6.45m.
  • The Main Vein was intersected at 286.85m and produced 18.15 g/t Au over 2.50m, including 74.80 g/t over 0.50m.
  • The Pioneer CGFI Zone was intersected at 298.15m and produced 1.17 g/t Au over 106.75m. Highlights of this zone include:
    • An intercept of an unknown vein zone at 340.00m producing 8.52 g/t Au over 0.50m
    • An intercept of an unknown vein zone at 354.40m producing 20.20 g/t Au over 0.50m
    • An intercept of an unknown vein zone at 362.80m producing 14.45 g/t Au over 2.60, including an intersect at 364.85m producing 67.80 g/t Au over 0.55m.
  • This hole drilled to a final depth of 593.4m on April 12, 2021.

SB-2021-029 - Pioneer Block

  • Complete preliminary assay results have been received for this hole.
  • An unknown vein zone was intersected at 112.10m and produced 0.72 g/t Au over 7.45m.
  • An unknown vein zone was intersected at 212.30m and produced 0.44 g/t Au over 7.45m.
  • An unknown vein was intersected at 240.95m and produced 13.10 g/t Au over 0.80m.
  • The Main Vein was intersected at 318.20m and produced 8.49 g/t Au over 1.05m, including 17.70 g/t Au over 0.50m at 318.75m.
  • This hole drilled to a final depth of 809m on April 28, 2021.

Talisker is providing an opportunity for shareholders and other interested parties to participate in a Webinar to be held at 4 pm ET on Thursday, June 24, 2021. To register, please click on the following link - . After registering, you will receive a confirmation email containing information about joining the webinar.

About Talisker Resources Ltd.

Talisker ( ) 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 282,403 hectares over 258 claims, three leases and 198 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.

For further information, please contact:

Terry Harbort
President & CEO
+1 416 361 2808

Mick Carew
VP, Strategic and Corporate Development
+1 604 803 7711

Qualified Person

The technical information contained in this news release relating to the drill results at the Bralorne Gold Project 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.

Sample Preparation and QAQC

Drill core at the Bralorne project is drilled in HQ to NQ size ranges (63.5mm and 47.6mm respectively). Drill core samples are minimum 50 cm and maximum 160 cm long along the core axis. Samples are focused on an interval of interest such as a vein or zone of mineralisation. Shoulder samples bracket the interval of interest such that a total sampled core length of not less than 3m both above and below the interval of interest must be assigned. Sample QAQC measures of unmarked certified reference materials (CRMs), blanks, and duplicates are inserted into the sample sequence and make up 9% of the samples submitted to the lab for holes reported in this release.

Sample preparation and analyses is carried out by ALS Global in North Vancouver, British Columbia, Canada and SGS Canada in Burnaby, British Columbia, Canada. Drill core 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 (ALS code PREP-31 / SGS code PRP89).

Gold in diamond drill core is analysed by fire assay and atomic absorption spectroscopy (AAS) of a 50g sample (ALS code Au-AA26 / SGS code GO_FAA50V10), while multi-element chemistry is analysed by 4-Acid digestion of a 0.25 g sample split with detection by inductively coupled plasma mass spectrometer (ICP-MS) for 48 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, 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).

Gold assay technique (ALS code Au-AA26 / SGS code FAA50V10) has an upper detection limit of 100 ppm. Any sample that produces an over-limit gold value via the gold assay technique is sent for gravimetric finish (ALS method Au-GRA22 / SGS method GO_FAG50V) which has an upper detection limit of 1,000 ppm Au. Samples where visible gold was observed are sent directly to screen metallics analysis and all samples that fire assay above 1 ppm Au are re-analysed with method (ALS code Au-SCR24 / SGS code GO_FAS50M) which employs a 1kg pulp screened to 100 microns with assay of the entire oversize fraction and duplicate 50g assays on the undersize fraction. Where possible all samples initially sent to screen metallics processing will also be re-run through the fire assay with gravimetric finish provided there is enough material left for further processing.

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.

Figure 1: Map showing 7 zones that comprise the Bralorne Project, the Charlotte Zone, drill holes included in this press release, major gold-bearing quartz veins (white) and associated bounding structures, surface infrastructure and details of Talisker's current 100,000 metre resource drilling program.

Figure 2: Cross-section through the Pioneer Block of the Bralorne Deposit showing major intersections within hole SB-2021-026, as well as downhole observations of visible gold in holes SB-2021-030 and SB-2021-040, assay results of which have yet to be released.

Figure 3: Long-section through the Bralorne deposit showing the extent of the course-grained felsic intrusive (CGFI) unit, the rock unit hosting the 1.17 g/t gold over 106.75 metre intersection in hole SB-2021-026.

SOURCE: Talisker Resources Ltd.

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