wonmunna iron project drilling update

TALISMAN MINING LTD
PO Box 126, Subiaco WA 6904
Tel: 61 8 9380 4230 / Fax: 61 8 9382 8200
www.talismanmining.com.au
080617_SJE_ASX_Wonmunna.doc
17 June, 2008
The Manager
Company Announcements Office
Australian Securities Exchange
By Electronic Lodgement
WONMUNNA IRON PROJECT – DRILLING UPDATE
First reconnaissance drillholes from CMM prospect indicate significant, thick iron mineralisation to 38m @ 55.56% Fe (remaining open at depth) and 12m @ 60.92% Fe.
CMM Reconnaissance Drilling
First assay results have been received for 3 reverse circulation drillholes completed as part of the program of reconnaissance drilling at the CMM (Central Marra Mamba) prospect, Wonmunna project.
These results clearly indicate good potential at this prospect for the definition of a significant iron resource. Further drilling has indicated that this outlier of Marra Mamba Iron Formation is a minimum of 200m wide, remaining open to the north, and extends over a strike length of at least 1.5km, remaining open to both the east and west.
Significant (>50% Fe) drill intercepts are listed in Table 1 and drillhole locations shown on Figure 1.
Table 1: Significant (>50% Fe) CMM Reconnaissance Drill Intercepts WNC281-283
Hole
East
North
From(m)
To(m)
Width(m)
Fe %
SiO2 %
Al2O3 %
P %
S %
LOI %
WNC281
704952
7439096
14
34
20
58.87
4.26
2.55
0.10
0.02
8.9
(including
20
32
12
60.92
2.99
1.76
0.10
0.01
8.4)
WNC282
704871
7438994
32
50
18
56.05
6.35
3.32
0.11
0.02
9.8
(including
44
48
4
61.34
2.94
1.62
0.12
0.01
7.9)
WNC283
704867
7438897
16
54
38(eoh)
55.56
6.48
3.69
0.13
0.02
10.1
(including
24
28
4
61.27
2.82
1.88
0.14
0.01
7.8)
eoh = End of Hole (Drillhole terminated in mineralisation)
TALISMAN MINING LTD PAGE 2
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Figure 1
NMM Resource Drilling
Assay results have been received for a further 30 reverse circulation drillholes completed as part of the program of gridded resource drilling at the NMM (North Marra Mamba) prospect, Wonmunna project, East Pilbara region, Western Australia. Significant (>50% Fe) drill intercepts are listed in Table 2 and drillhole locations shown on Figure 2.
Figure 2
080617_SJE_ASX_Wonmunna.doc
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Table 2: Significant (>50% Fe)
m(m
(m
th(
%
iO2%
2O%
3
%
%
I %
WNC228
709693
7441601
gnifican
sults (
% Fe)
WNC229
709692
7441553
12
20
8
53.74
8.18
4.89
0.09
0.01
9.2
709693
20
38
18
58.17
4.52
2.17
0.11
0.01
9.6
including
36
10
60.41
2.22
1.45
0.10
0.00
9.9)
WNC231
709691
7441449
55.82 7.29 2.98
WNC234
709695
7441805
no significant results (<50% Fe)
WNC235
709691
7441265
no significant results (<50% Fe)
WNC236
709703
7441203
no significant results (<50% Fe)
WNC309
710499
7441453
no significant results (<50% Fe)
WNC310
710501
7441503
no significant results (<50% Fe)
WNC311
710500
7441553
no significant results (<50% Fe)
WNC312
710494
7441607
gnifican
sults (
% Fe)
710503
8
22
14
54.66
8.76
3.41
0.10
0.01
8.6
including
16
2
60.44
3.24
1.37
0.11
0.01
8.1)
WNC314
710502
7441701
10
22
12
53.13
8.62
4.30
0.07
0.02
9.4
WNC315
710504
7441752
10
12
2
50.78
13.88
3.87
0.11
0.01
9.2
WNC316
710506
7441803
8
10
2
51.82
8.93
5.36
0.04
0.01
10.4
712100
16
30
14
53.83
9.92
3.94
0.09
0.02
8.7
including
60.08 3.51 2.21
WNC398
712097
7441152
no significant results (<50% Fe)
WNC399
712104
7441252
gnifican
sults (
% Fe)
WNC500
712104
7441353
12
20
8
54.43
8.22
4.40
0.07
0.03
9.2
12
14
2
50.92
8.84
6.54
0.06
0.03
11.7
24
28
4
51.71
8.09
5.71
0.10
0.01
11.1
WNC504
711897
7440854
20
28
8
52.34
8.49
5.21
0.06
0.02
11.2
WNC505
711899
7440901
58.04 4.29 3.12
WNC506
711902
7440959
no significant results (<50% Fe)
WNC507
711903
7440995
no significant results (<50% Fe)
WNC508
711901
7441055
gnifican
sults (
% Fe)
711895
22
52
30
52.13
6.88
7.22
0.04
0.02
10.7
including
36
2
60.23
2.78
2.15
0.04
0.01
9.1)
711902
14
46
32
55.65
6.59
4.42
0.07
0.02
8.9
including
62.54 2.79 1.64
WNC511
711896
7441199
no significant results (<50% Fe)
WNC512
711904
7441249
no significant results (<50% Fe)
SMM Reconnaissance Drilling Assay results have been received for a further 13 reverse circulation drillholes completed as part of the program of reconnaissance drilling at the SMM (South Marra Mamba) prospect, Wonmunna pro
S
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080617_SJE_ASX_Wonmunna.doc
Table 3: Significant (>
3, 32
31,3
336.
m(m
(m
th
%
2 %
O3 %
%
%
OI%
WNC240
703999
7436857
22
24
2
53.43
8.56
3.95
0.08
0.01
10.4
26
30
4
53.74
9.64
2.75
0.13
0.01
10.8
50.51 8.88 6.00
WNC320
704397
7437203
no significant results (<50% Fe)
WNC321
704403
7437088
ignifica
esults
Fe)
18
20
2
51.16
9.25
6.72
0.02
0.03
9.2
22
24
2
53.84
7.50
5.11
0.04
0.01
9.2
704403
2
16
14
58.13
5.46
2.95
0.03
0.02
8.6
including
60.95 2.69 2.04
WNC328
703590
7436793
no significant results (<50% Fe)
WNC329
703598
7436704
no significant results (<50% Fe)
WNC330
703197
7437049
ignifica
esults
Fe)
20
22
2
50.40
8.54
8.22
0.05
0.02
10.2
57.57 4.96 3.44
WNC334
702805
7436996
no significant results (<50% Fe)
WNC335
702800
7436903
no significant results (<50% Fe)
S. J. Elliott
M
Information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Steven Elliott who is a member of the Australasian Institute of Mining and Metallurgy. Mr Steven Elliott is a full time employee of Talisman Mining Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Steve
TALISMAN MINING LTD PAGE 5
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080617_SJE_ASX_Wonmunna.doc