Talisker Provides Update on Initial Phase of Drilling at Golden Hornet

TORONTO, ON / ACCESSWIRE / September 1, 2021 / Talisker Resources Ltd. ("Talisker" or the "Company") (TSX:TSK)(OTCQX:TSKFF) is pleased to provide an update on the ongoing Phase 1 exploratory diamond drill program at its Golden Hornet Gold Project located in the Kootenay Mining District of south-central British Columbia. The Company previously announced the receipt of a three-year area-based notice of work permit and the initiation of diamond drilling with a fully funded exploratory phase of 12 diamond drill holes, totalling approximately 3,000 metres (see press release dated August 25, 2021).

Phase 1 drilling is targeting high-grade quartz-sulphide veins, breccias and stockwork sampled during last year's greenfields program. The first four diamond drill holes intercepted zones of high density stockwork sulfide veins, mineralized tourmaline breccias, and semi-massive sulfides hosted in fractured sheeted quartz veins hosted within strongly silica-sericite-pyrite altered diorite composition intrusive rocks.

Key Points:

• First Four diamond drill holes intersected broad zones of sheeted and stockwork sulfide veining as well as semi-massive to massive sulfide hosted within fractured quartz veins and tourmaline breccias forming zones up to 3 metres wide.
• Each hole drilled to date has intercepted significant intervals of mineralization and conforms mineralization identified at surface to a depth of approximately 300 metres.
• Sulfide mineralization is dominated by a pyrite-pyrrhotite-arsenopyrite-chalcopyrite assemblage.
• The mineralized system is controlled by series of sheeted and stockwork quartz veins hosted within a Jurassic intrusive complex and disseminated mineralization and is associated with a large hornfels contact envelope.
• Ongoing Phase 1 of the 3,000 metre drill program testing strongly mineralized footprint of 650m x 300m north-west trending sheeted vein system in the Hornet Zone.
• Subsequent drilling will test a 2.8km by 1.3km gold soil anomaly, defined by Talisker in 2020 and centered about the Hornet Zone.
• Historic surface samples at the Hornet Zone are highlighted by 22.1 g/t Au over 5.2m, 27 g/t Au over 2.0m and 4.17 g/t over 14m ¹.
• Drill results are expected within four to five weeks.

Program Highlights

A total of 1,457m of exploration diamond drilling has been completed to date in four drill holes collared from individual pad locations.

Table 1: Drillhole Collar Summary Information

Hole Descriptions

GH-DDH-21-001:

• 5% total visual sulphide content over top 98m. Pyrite +/- pyrrhotite stockworks and sheeted veins and disseminations.
• Zones of high density sheeted and stockwork sulphide veining (>10 vein count per metre): 0m-98m, 108m-171m, 183m-192m, 216m-228m, 243m-255m.
• Massive sulfides hosted in fractured quartz veins and tourmaline breccias; 15cm at 90m, 10cm at 91m, 50cm at 168.9m.

GH-DDH-21-002

• Zones of high density sheeted and stockwork sulphide veining (>10 vein count per metre): 75m-92m, 165m-175m, 189m-199m.
• Massive pyrite-pyrrhotite-arsenopyrite +/- chalcopyrite sulphides hosted in fractured and brecciated quartz veins and tourmaline breccias; 15cm at 33m, 79m, 81m, and 283m.

GH-DDH-21-003

• 6% total visual sulphide content over top 200m. Pyrite +/- pyrrhotite disseminations, stockworks and sheeted veins.
• Vein or breccia hosted pryrite-pyrrhotite-arsenopyrite mineralized zones 127m-136, 193m-195m, 209m-212m, 218m-219, 233m-236m, 248m-255m.
• Massive sulfides hosted in fractured quartz veins and tourmaline breccias; 15cm at 94m, 116m, 184m, 20cm at 312m and 30cm at 313m.

GH-DDH-21-004

• 3% total visual sulphide content over top 300m. Strong pyrite +/- pyrrhotite disseminations, stockworks, and sheeted veins.
• Zone of high density sheeted and stockwork sulphide veining from 0m to 225m in contact zone with hornfels metasediments and altered diorite intrusive
• Strong zones of silica-pyrite brecciation and veining hosting >5% pyrite-pyrrhotite at 88m-103m, 133m-134m, 141m-146m, 207m-208m, 216m-217m, 267m-269m and 345m-386m including 3.4m semi-massive to massive pyrite-pyrrhotite breccia zone at 353.9m

Terry Harbort, President and CEO of Talisker commented, "We are very pleased that the first four drill holes at the Hornet Zone have all intercepting significant sulphide and silica mineralization at depth confirming the potential for a robust gold-bearing hydrothermal system at Golden Hornet. With assay results expected in a little over a month we will be testing the mineralised footprint with 200m step out holes."

The Hornet Zone represents a conceptual intrusion related gold system (IRGS) where mineralization and alteration intensity are controlled by localized structures, lithologic contacts, and pre-mineralizing event veins and breccias providing permeable conduits for later ore forming hydrothermal fluids. The Hornet Zone exhibits strong alteration zonation decreasing inboard into the host diorite unit from silica+/-biotite-sericite to sericite-chlorite +/- epidote. Strong continuity of mineralized breccia and vein zones is observed between drill holes. Mineralized structures are pierced at roughly orthogonal angles to drill core axis and therefore true width of intersected intervals are estimated to be 80-90% of observed widths.

Historic trenching in the Hornet Zone returned channel samples of 22.1 g/t Au over 5.2m, 17 g/t Au over 2.0m, 4.17 g/t Au over 14m ² . In addition, broad halos of mineralization surrounding the veins returned intercepts of 1.9 g/t Au over 21m, 1.23 g/t Au over 12.5m, 1.32 g/t Au over 17.0m and 0.96 g/t gold over 14m. The main NW trending high-grade gold veins at the Hornet Zone outcrop continuously over a 500m x 300m area. Low grade gold mineralization occurs in stockwork sulphide veinlets between major sheeted vein sets that represent additional opportunity for bulk tonnage potential. B-Horizon soil sampling conducted by Talisker in 2020 defined a 2.8km by 1.3km gold soil anomaly (98th percentile) centered on the Hornet Zone.

Qualified Person

The technical information contained in this news release 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.

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, Chief Executive Officer of Talisker, at terry.harbort@taliskerresources.com.

Related Links

https://taliskerresources.com/

Caution Regarding Forward-Looking Information

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 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 statements 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 market risks and the demand for securities of the Company, 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 news 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: Geological map of the Golden Hornet Drill Program showing location of drill holes, Cross-section showing the conceptual model for Golden Hornet Drilling

Figure 2: Cross-section showing the conceptual model for Golden Hornet drilling.

Figure 3: GH-DDH-21-004: 353.9m to 357.4m - Zones of strongly mineralized fractured and overprinted quartz veins and tourmaline breccias. Massive pyrrhotite and pyrite intervals over 10-25cm. 20% total sulfide content.

Figure 4: GH-DDH-21-004: 353.9m to 357.4m.  Massive pyrite overprinting refractured early quartz veins with a secondary pyrite mineralizing event with brighter coloured blebby pyrite.

Figure 5: GH-DDH-21-004: 353.9m to 357.4m.  (Top row) Massive dark brass coloured pyrrhotite with semi-massive pyrite along margins overprinting an earlier tourmaline-silica breccia.  (Bottom Row) strong vein marginal pyrite lesser pyrrhotite mineralization.

Figure 6: GH-DDH-21-004: 353.9m to 357.4m.  (Top row) Massive dark brass coloured pyrrhotite with semi-massive pyrite along margins overprinting an earlier tourmaline-silica breccia.  (Middle Row) strong vein marginal massive pyrite lesser pyrrhotite mineralization. Bottom Row: Pyrite lesser chalcopyrite mineralized overprint of earlier tourmaline-grey silica hydrothermal breccia.

[1] The Company notes that these selected samples are not necessarily representative of the mineralization hosted at the Hornet Zone given limited drilling was completed within the Project.

[2] The Company notes that these selected samples are not necessarily representative of the mineralization hosted at the Hornet Zone given limited drilling was completed within the Project.

SOURCE: Talisker Resources Ltd.