Talisman Metals acquires two Morocco copper licences for PS16,000
Talisman Metals PLC on Tuesday said it has signed an agreement to acquire a copper project with two mining licences in Morocco from a fully-owned subsidiary of Aya Silver & Gold Inc.
The agreement, made by Talisman’s subsidiary Horizon Mines Sarl and Aya’s subsidiary, includes entering a sharing of proceedings and a payment of MAD200,000, or about £16,170.
The Tirzzit Copper Project covers a surface area of almost 17 square kilometres in the Agadir regional mining department in Morocco with its two licences. It is located 225 kilometres east of Agadir, and 85 kilometres north-east of Talisman’s existing Tizert project.
The deposit is classified as a sediment-hosted stratiform system of copper and silver, the Dublin-based metals explorer firm said, and past explorations yielded samples with up to 6% of copper, although the work to verify the results in accordance to the Joint Ore Reserves Committee stands is yet to be undertaken.
Talisman shares were up 2.5% to 10.25 pence each on Tuesday afternoon in London.
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