Canadian west coast gold miner Talisker Resources Ltd (TSE: TSK) (OTCMKTS: TSKFF) revealed that it had received an C$8-million-dollar investment on Monday.
The funding builds on a series of private placements totalling C$18.5 million obtained in April. Capital will be used to advance Talisker’s flagship Bralorne gold project and its underground Mustang Mine into production by the end of this quarter.
This past-producing mine complex churned out 4.2 million ounces before shutting down in 1971 due to low gold prices making continued operations unfeasible. The area was first staked in 1896 before gold production began in 1928 and the first gold brick was poured in 1932.
It has historically been one of Canada’s top gold-producing assets and used to employ thousands of mine workers.
In 2023, Talisker released a mineral resource estimate showing that the property still held 33,000 indicated gold ounces and 1.6 million inferred. A total of 86 gold veins have been identified at the site and resources are at a relatively shallow depth of 700 metres.
Talisker has arranged for others to help
In May, Talisker inked an ore hauling agreement with the trucking service provider Stromsten Enterprises. This transport company will haul gold ore to the the New Afton milling facility held by New Gold Inc (TSE: NGD) (NYSEAMERICAN: NGD) (FRA: 32N) or the Craigmont mill run by Nicola Mining Inc (CVE: NIM) (OTCMKTS: HUSIF) (FRA: HLIA).
Talisker finalized a milling agreement with Nicola in April of 2024. It will see that Nicola processes 6,300 tonnes of stockpile from Bralorne.
The previous month, Talisker established an ore purchase agreement with New Gold. The companies have agreed that New Gold will buy up to 350,000 tonnes of material from Bralorne that will be processed at New Afton.
“The onsite team has done a great job in preparing all of the necessary requirements to restart mining activities at the Bralorne Gold Project,” Chief Executive Officer Terry Harbort said in January.
“With all-time-high gold prices we are excited to be finalizing our pre-development activities and eagerly look forward to our first blast for 2025,” Harbort added in February, “setting the basis for a transformational year for Talisker.”
He was in attendance at this year’s Vancouver Resource Investment Conference to schmooze with investors in the province the company operates.
Photo credit: Talisker Resources
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