Talisman Anticipates "Golden Future" With Peruvian Project
11 Marzo 2011 - 7:00AM
Marketwired
Talisman Holdings, Inc. (PINKSHEETS: TMHO) released further
information today about its Peruvian gold project.
A geological survey of the 400 hectares that comprise the
allotment has been performed. The topography in the area and other
surrounding areas involved in production range from 2,300 to 3,900
metres above sea level, displaying a noteworthy overburden of 1,600
metres. Local geological composition consists of classic rocks such
as quartzite and sandstone from the Goylarisquizga formation,
followed by limestone and lutite from the Chulec-Pariatambo
formation of the Lower Middle Cretaceous. Then, an area made up of
volcanic rock from the Tantara formation of the Lower Third
predominates. This has been intruded by a hypabyssal shock of
granodiorite-tonalite and adamellite diorite composition, located
in the NW and SE areas of the surveyed area.
The mineralogy is fairly simple. Primary minerals include
pyrite, chalcopyrite, finely distributed electrum, along with a
great deal of secondary minerals comprised of limonite-hematite and
manganese oxide, and gangue, comprised of hyaline, a crystalline
milky quartz. The gold mining project consists of an epithermal
deposit of quartz-sericite type precious metals. Gold is the main
component, with small amounts of silver. These deposits are
products of hydrothermal systems located at negligible depths with
low temperatures. Using the lpe site as a centre, the geological
survey has ascertained the existence of a series of veins,
branches, or venules and gaps, infused essentially with pyrite,
chalcopyrite and electrum in the form of a thin layer, along with
limonite and hematite and to a lesser extent manganese oxide,
followed by hyaline, a crystalline milky quartz crushed together
forming gangue minerals.
The veins are located on Tantara-formation volcanic surfaces.
There are 9 veins, of which 3 are perceived to demonstrate
interesting economic prospects. A preliminary estimate of the
tonnage of the minerals in these veins indicates the following:
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Vein DMT Pot(m) Au gr/MT Ag oz/MT Category
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1 496,000 0.25 12.62 9.86 Proven - Probable + Prospective
---------------------------------------------------------------------------
2 347,500 0.20 12.34 6.85 Proven - Probable + Prospective
---------------------------------------------------------------------------
3 127,250 0.20 11.38 10.15 Proven - Probable + Prospective
---------------------------------------------------------------------------
In the potential mineral category, it is estimated that there
are 1,100,000 tons in the first five veins. Without taking into
account tonnage of gold and silver in the other anomalous veins, it
is emphasized that the tonnage estimation grades have been obtained
from samples of the remains of weathered surface upwellings and
leachates, which were taken as references, and the expectation is
that there will be more grades at a greater depth. Analysis of the
factors that affect the geoeconomic prospects of the project
suggests a favorable outlook for its mineralogical characteristics
observed throughout the veins that have been explored and harnessed
through surveys and by informal groups of miners.
David Long, Talisman President, said: "We are thrilled to be
involved in this underdeveloped and exciting gold project.
Everything leads to the conclusion that this project will be
successful in defining high grade gold prospects -- our hope is for
the next Yanacocha."
About Talisman Holdings:
Talisman Holdings, Inc. (PINKSHEETS: TMHO) is a highly
innovative holding company built on the belief that the world's
greatest potential for financial growth lies in emerging companies.
Talisman Holdings finds undervalued small and microcap businesses
with breakthrough products, services and technologies and delivers
the equity, financial guidance, strategic counsel, consulting and
business functions they need in order to succeed in the public
marketplace. Taking an ownership or equity stake in standout
emerging growth companies creates assets and drives shareholder
value for Talisman Holdings, and the diversified holding company
organizational structure and range of industries provides diversity
of risk. For more information please visit Talisman's website at
www.talismanholdings.com.
FORWARD-LOOKING DISCLAIMER
This summary contains forward-looking statements within the
meaning of the "safe harbor" provision of the Private Securities
Litigation Reform Act of 1995. These statements address future
events and conditions concerning the Company's business plans. Such
statements are based on management's current expectation and are
subject to a number of factors and uncertainties, such as future
economic conditions and changes in anticipated revenues and costs,
which may cause actual results to differ materially. The Company
expressively disclaims any future obligation or undertaking to
update or revise any forward-looking statements contained herein.
Investors and potential investors should independently investigate
and fully understand all risks before making investment
decisions.
For more information contact us at: Talisman Holdings, Inc. 3035
Colony Lane Springfield, OH 45503 Phone/fax (937) 342-0383
info@talismanholdings.com
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