In the ann on the 14/08/2007 it states:
“It is significant to note that Poondano, from their limited drilling, estimated an area of mineralised Marra Mamba, open in all directions, of 1.5km x 0.5km with an average of 15.7m @ 58.8% Fe.
This is a very significant starting point for an aspiring junior iron ore company. It is readily apparent that Talisman has in its possession a significant iron ore project, with excellent potential for the definition of a mineable resource.”
Now is we take those esimated figures we get 1500 x 500 x 15.7 = 11 775 000 x 3.5 tonnes (density of iron ore per metre cubed)
= 41 200 000 tonnes at grade of 58.8% fe.
Now this is just on the Northern marra mamba section of the tenement.
In the latest ann regarding the completion of the drilling program TLM stated:
“The eastern most drill traverse located a concealed palaeochannel which, in the drill ltraverse, is up to 35 metres deep and greater than 600 metres wide.
This channel has infill of CID, including pisolitic iron and clay layers, and is probably the western extension of the high-grade CID outcropping, off lease, approximately 4 kilometres to the northwest.
It would appear, from this work, that this newly discovered CID channel has a minimum length of approximately 3 kilometres within the project area.”
This North Eastern deposit is up to 35 metres deep 600 metres wide and potentially 3 km long. It would be premature to estimate how much ore could be in that target although this area was targeted in first round drilling which saw grades of 57.3% in the direct vicinity.
This is a fantastic intial target and the company has stated:
“Although thus limited, and although no drill evaluation of the Southern or Eastern Marra Mamba has yet been completed, it is believed that this first pass drilling is of sufficient scope to define the overall potential of the project area to host commercial iron ore mineralisation.”
This shows the commerical potential of just the north eastern CID. So there are at least 2 highly prospective targets which will be targeted as long as pending drilling results warrant a further round of drilling and begin resource delineation.
