Talisman Mining Begins AC Drilling at East Peak Hill Gold Project

Talisman Mining Limited (ASX: TLM) has begun 2,500 metres of aircore drilling at its East Peak Hill Gold Prospect in New South Wales.

The programme follows earlier drilling that identified gold along an approximately five-kilometre corridor. It will cover two target areas, EPH1 and EPH2, through up to five drill lines.

The Talisman Mining East Peak Hill announcement, released on 15 October 2026, marks the start of fieldwork. It contains no new assays from this campaign.

Managing Director Todd Ross said improved conditions had allowed the company to return after weather-related access delays. Talisman expects to finish drilling before October ends and receive the first results in early December.

Figure 1: Exploration drilling equipment pictured in a feature on Talisman Mining. Image source: Mining Outlook.

EPH1 Drilling Will Follow Gold to the North and South

The first target already has drill evidence behind it.

Previous aircore work at EPH1 intersected anomalous gold across a contact between two rock packages. Talisman interprets the location as a structurally complex area, described as a “jog”.

That interpretation gives the company a place to concentrate its follow-up work. The new drilling will step out to the north and south to look for extensions.

One previously reported intersection was 3 metres at 1.75g/t gold from 33 metres in hole EPAC0003. Talisman originally disclosed that result on 20 May 2026.

It is a useful starting point, though it remains one intersection. The new holes will help establish whether similar mineralisation occurs nearby and how it relates to the interpreted rock contact.

The length reported is a drill intersection. It should not be treated as a confirmed true width.

EPH2 Gives Talisman Access to Ground Rain Left Untested

At EPH2, the immediate task is to complete work that weather had interrupted.

Three drill traverses are planned across this target area. Earlier attempts were impeded by significant rain, leaving gaps in the systematic testing of the corridor.

Access has now improved enough for the programme to proceed.

For shareholders, the useful outcome will be a fuller set of drill results across the intended target. A gap left by an inaccessible drill site tells geologists little about the ground beneath it. Completing those traverses should give Talisman more evidence on which to base its next exploration decisions.

The company has not provided a separate completion date for each target. Both sit within the programme scheduled to finish by the end of October.

Two Targets Have Different Jobs Within the Same Programme

EPH1 and EPH2 form part of the same corridor, but the reasons for drilling them differ.

At EPH1, Talisman is following mineralisation already intersected. At EPH2, it is completing planned coverage across ground where rain previously prevented access.

The East Peak Hill gold project remains at the exploration stage. This programme is intended to improve the geological picture and test extensions; it does not establish a mining plan or production schedule.

Mining Herald’s coverage of Australia’s mineral exploration spending examines the wider task of turning exploration work into evidence for a discovery.

The Rock Contact Explains Where the Holes Are Going

Talisman’s target follows the boundary between volcaniclastic rocks and the sedimentary Cotton Formation.

The company interprets this as the same stratigraphic succession that hosts gold at Tomingley and Peak Hill. That is the geological basis for its interest in the corridor.

East Peak Hill lies immediately east of the Peak Hill gold district. They do not establish the grade, size or economics of mineralisation on Talisman’s ground.

The more useful question is whether the new holes support the company’s interpretation of the contact. Gold results from several locations, considered alongside the geology, would help Talisman decide which sections deserve closer investigation.

Sheepyard Is Preparing for a Separate Drilling Campaign

The Talisman Mining drilling update also covers preparations at the Sheepyard Gold Prospect.

Talisman has secured a reverse-circulation rig for that programme. The proposed drilling will test a deeper induced-polarisation, or IP, anomaly identified through earlier work.

An IP anomaly is a geophysical response used to help select drilling targets. It is not, on its own, proof of gold mineralisation.

Sheepyard belongs to Talisman’s Lachlan Fold project portfolio and is separate from the East Peak Hill aircore campaign.

The company has not announced a firm start date for the Sheepyard drilling. It says further information on commencement will follow.

That leaves two distinct items to track: completion and assays at East Peak Hill, and the start of RC drilling at Sheepyard.

Early December Is the First Assay Checkpoint

There is a gap between finishing a hole and receiving a laboratory result.

The next update should help answer three questions:

• Did EPH1 drilling extend the earlier gold mineralisation north or south?
• What did the three EPH2 traverses find in the previously restricted ground?
• Do the results support further work along the interpreted geological contact?

The dates remain expectations. Weather and laboratory turnaround can affect exploration schedules, and the company has already experienced access delays at this prospect.

What to Expect Next?

East Peak Hill has prior gold intersections, a geological target and a defined follow-up programme. Talisman now has the opportunity to test ground that earlier work and wet conditions left unresolved.

At EPH1, attention will fall on the step-outs. At EPH2, it will be the results from the three planned traverses.

The October announcement confirms that drilling has started. Early December is the next expected checkpoint for evidence of what that drilling has found.

FAQs

Q1. How much drilling is planned at East Peak Hill?
Ans. Talisman has started a 2,500-metre aircore programme comprising up to five drill lines across EPH1 and EPH2.

Q2. What did earlier drilling find?
Ans. Previously reported results include 3 metres at 1.75g/t gold from 33 metres in hole EPAC0003. This is an earlier result, not an assay from the current campaign.

Q3. When are the new results expected?
Ans. Drilling is scheduled to finish by the end of October 2026, with first results expected in early December.

Q4. Has drilling also started at Sheepyard?
Ans. The announcement says an RC rig has been secured and preparations are underway. It does not confirm that Sheepyard drilling has started.

Disclaimer

This article is intended for informational purposes only. Exploration results and programme dates are drawn from the company announcement. Drilling may not result in an economically viable deposit and timetables may change. Investors should review the full filing before making an investment decision. Investing involves the risk of loss of capital. No financial advice is provided in this article.