Bullfinch

(100% Interest)

  • 161km2 over greenstone/BIF belt and gneissic/granitoid rocks in prolific Southern Cross gold mining district of Yilgarn craton.
  • Prospects include undrilled historic workings and gold geochemical anomalies hosted in prospective rock types for gold deposits similar to those elsewhere in the Yilgarn craton.
  • First pass rockchip results of outcrop on a 16 kilometre strike magnetic feature include up to 19.95 g/t Au at the Harold Holt prospect.
  • Granted tenure, advanced definition of gold targets and excellent logistics will assist plans for drill testing.

Talga owns 100% rights to an exploration licence granted over 160 square kilometres of the northern part of the Archaean age Southern Cross Province in Western Australia. This is one of the most productive gold districts in amphibolite-facies greenstone terrain in the world and up to 1993 has yielded 170t of gold.

Talga’s project lies near the town of Bullfinch and is approximately 35km north by sealed road from the regional centre of Southern Cross. The licence abuts the area east between the +1 million oz Au Copperhead mine and the smaller but high grade Radio mine, which produced over 73,000oz Au at an average of 33.5g/t Au.

Figure 1: Bullfinch project detailed aeromagnetic image showing BIF-Greenstone belt and exploration highlights

Figure 1: Bullfinch project detailed aeromagnetic image showing BIF-Greenstone belt and exploration highlights

The main focus of the Bullfinch project is an almost entirely untested belt of greenstone with Banded Iron Formation (BIF) that is interpreted by Talga to be equivalent to that hosting the large Copperhead gold deposit. Previously exploration was hampered by shallow transported cover, but the highly prospective unit is now accurately traced by modern geophysical surveys that reveal the gold host target extending for 15 km length through the project (Fig 1).

Talga’s work has identified six shallowly concealed, high priority gold targets along the belt evidenced by demagnetised zones and fold hinge structural targets that have potential for multi-million ounce gold orebodies. Additional untested or poorly followed up gold targets have been defined including the Reynolds Find historic mine where 1980′s RC drilling included 1m at 54 g/t Au from 4m depth, and the new (2009) discovery of the Harold Holt prospect (Fig 2) where initial sampling returned grades up to 19.8g/t Au in outcrop, confirming the presence of a significantly gold mineralised zone that awaits RC drill testing for the first time.

Figure 2: Bullfinch project gold occurrences and target zones highlighted on aeromagnetic image

Figure 2: Bullfinch project gold occurences and target zones highlighted on aeromagnetic image

Figure 6: Bullfinch Project - Microphotograph of feldspar hosted gold (Sample BF183, Field width 0.432mm)

Figure 3: Bullfinch Project - Microphotograph of feldspar hosted gold (Sample BF183, Field width 0.432mm)

In addition the BIF unit is highly prospective for iron deposits where reconnaissance sampling has revealed iron contents up to 39% Fe (55% Fe2O3). The project has favourable logistics for a bulk mining operation, with a railway loop siding available 15 kilometres to the south and the Koolyanobbing iron ore mine situated 35 kilometres to the east.

Plan & Timeframe

With granted tenure and mostly freehold land the process to gaining results from the project can be accelerated. Some minor mapping and fieldwork are planned to accurately site drillholes in a program of grid RAB and targeted RC drilling commencing the 3rd quarter of 2010.

Figure 4: Bullfinch project location and regional geology

Figure 4: Bullfinch project location and regional geology