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Talisman Mining’s September 2026 quarterly activities report, released on 22 October, describes exploration across its New South Wales portfolio and a A$4 million capital raising. At the quarter end on 30 September, the company reported A$4.761 million in cash available for operating and investing activities. The cash figure is a reported balance at a date; it should not be read as a forecast of runway or as an amount all available for drilling.
At the Sheepyard prospect within the Walkers Hill Gold Project, Talisman reported aircore drilling intersections over an unconstrained strike length of approximately 800 metres. Results included 9 metres at 0.94 grams per tonne gold from 42 metres, including 6 metres at 1.28 grams per tonne, in hole SYAC0085. Hole SYAC0088 returned 15 metres at 0.55 grams per tonne from 3 metres, including 9 metres at 0.67 grams per tonne, and a separate 15-metre interval at 0.46 grams per tonne from 30 metres, including 3 metres at 0.97 grams per tonne.
The company says the Sheepyard prospect lies in the southern part of an approximately 5.5-kilometre northwest-trending soil anomaly exceeding 25 parts per billion gold. It interprets the drilling results as coincident with margins of an induced-polarisation chargeability anomaly. The central anomaly remains untested by drilling, according to the report. These are exploration interpretations from early-stage drilling and geophysical context; they do not establish a mineral resource, economic grade, mine plan or commercial discovery.
Talisman said follow-up reverse-circulation drilling was planned to start in November to extend the mineralised footprint and test the IP anomaly at depth. Separately, an approximately 2,500-metre aircore program at the East Peak Hill prospect in the Macquarie project began after quarter end. It is targeting a roughly 5-kilometre gold-mineralised corridor identified in earlier drilling. The company scheduled completion by the end of October and said first results were expected in early December. Those are company plans and expectations, not completed outcomes as of the quarterly report.
The report also records A$0.718 million of exploration and evaluation expenditure during the quarter, associated with the Lachlan and Macquarie projects. Activities included completion and assessment of earlier aircore drilling, assaying, geological mapping, tenement management and planning. Payments to related parties were reported as A$205,000 for directors’ fees, including short-term and post-employment benefits for non-executive directors and the chief executive officer.
The capital raising was priced at A$0.065 per share. Talisman said 47 million shares, raising approximately A$3.1 million, were issued on 10 September. A second tranche of about 14.5 million shares, worth approximately A$0.945 million, remained subject to shareholder approval at the 25 November annual general meeting. Director participation of about A$870,000 was also subject to approval; it was not all completed cash at quarter end. The report is company-reported exploration and cash-flow disclosure, and drilling results remain subject to geological uncertainty and further work.