Listing just four months ago on the ASX, Talga Gold (ASX: TLG) is having some very strong success in inaugural drilling at the Talga Talga prospect in the Pilbara, with some bonanza grade gold hits.
The highlight of the latest results includes; 11m at 9.28g/t gold from 54m, including 1m at 73.5g/t gold.
Of major importance for the company, this discovery is just 160 metres along strike from the previously announced; 3m at 24.8g/t gold from 32m, including 1m at 66.9g/t gold.
Mark Thompson, managing director, said “It is early days yet but we have a level of confidence about what we have seen in this first pass work and that is high grades at shallow levels of less than 100 metres and in areas never previously drilled by any company."
Diamond drilling and reverse circulation drilling is now planned to commence in the new year.
The Talga IPO was priced at $0.20, with the positive results released today pushing the stock up 7% in intra-day trading to $0.375, although this is down from the day high of $0.425.