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Mount Burgess Mining N.L. ( (AU:TXR) ) just unveiled an update.
Talonx Resources reported that maiden reverse circulation drilling at its Viking Gold Project has confirmed continuity of high-grade gold mineralisation at the Beaker 2 prospect, with standout intercepts such as 5 metres at 7.4 grams per tonne gold from 70 metres. The company plans further RC drilling at Viking, including Beaker 2 and Beaker 4, alongside a maiden program at its Blair North gold project.
During the quarter, Talonx completed a $750,000 capital raising, ending March with $0.93 million in cash to fund its exploration programs. The company also implemented a new corporate structure, name and ASX code, and refreshed its board with the appointment of finance executive Scott Glasson as a non-executive director following the resignation of Harry Warries.
Talonx’s results at Viking underscore the project’s potential, especially at the high-priority Beaker 2 target that hosts a significant high-grade supergene zone. Ongoing work streams, including further drilling and engagement on the future of the Kihabe Project, signal an active exploration agenda that may influence the company’s growth trajectory and attractiveness to investors.
More about Mount Burgess Mining N.L.
Talonx Resources Limited is an Australian listed exploration company focused on gold projects, with key assets including the Viking Gold Project and the Blair North gold project. The company operates within the Albany–Fraser Province, targeting high-grade gold mineralisation hosted in quartz veins and shear zones, and is also assessing options for its Kihabe Project.
Average Trading Volume: 683,280
Technical Sentiment Signal: Sell
Current Market Cap: A$9.32M
Learn more about TXR stock on TipRanks’ Stock Analysis page.