SOURCE: Talisman Holdings, Inc.

March 11, 2011 08:00 ET

Talisman Anticipates "Golden Future" With Peruvian Project

SPRINGFIELD, OH--(Marketwire - March 11, 2011) - Talisman Holdings, Inc. (PINKSHEETS: TMHO) released further information today about its Peruvian gold project.

A geological survey of the 400 hectares that comprise the allotment has been performed. The topography in the area and other surrounding areas involved in production range from 2,300 to 3,900 metres above sea level, displaying a noteworthy overburden of 1,600 metres. Local geological composition consists of classic rocks such as quartzite and sandstone from the Goylarisquizga formation, followed by limestone and lutite from the Chulec-Pariatambo formation of the Lower Middle Cretaceous. Then, an area made up of volcanic rock from the Tantara formation of the Lower Third predominates. This has been intruded by a hypabyssal shock of granodiorite-tonalite and adamellite diorite composition, located in the NW and SE areas of the surveyed area.

The mineralogy is fairly simple. Primary minerals include pyrite, chalcopyrite, finely distributed electrum, along with a great deal of secondary minerals comprised of limonite-hematite and manganese oxide, and gangue, comprised of hyaline, a crystalline milky quartz. The gold mining project consists of an epithermal deposit of quartz-sericite type precious metals. Gold is the main component, with small amounts of silver. These deposits are products of hydrothermal systems located at negligible depths with low temperatures. Using the lpe site as a centre, the geological survey has ascertained the existence of a series of veins, branches, or venules and gaps, infused essentially with pyrite, chalcopyrite and electrum in the form of a thin layer, along with limonite and hematite and to a lesser extent manganese oxide, followed by hyaline, a crystalline milky quartz crushed together forming gangue minerals.

The veins are located on Tantara-formation volcanic surfaces. There are 9 veins, of which 3 are perceived to demonstrate interesting economic prospects. A preliminary estimate of the tonnage of the minerals in these veins indicates the following:

Vein DMT Pot(m) Au gr/MT Ag oz/MT Category
1 496,000 0.25 12.62 9.86 Proven - Probable + Prospective
2 347,500 0.20 12.34 6.85 Proven - Probable + Prospective
3 127,250 0.20 11.38 10.15 Proven - Probable + Prospective

In the potential mineral category, it is estimated that there are 1,100,000 tons in the first five veins. Without taking into account tonnage of gold and silver in the other anomalous veins, it is emphasized that the tonnage estimation grades have been obtained from samples of the remains of weathered surface upwellings and leachates, which were taken as references, and the expectation is that there will be more grades at a greater depth. Analysis of the factors that affect the geoeconomic prospects of the project suggests a favorable outlook for its mineralogical characteristics observed throughout the veins that have been explored and harnessed through surveys and by informal groups of miners.

David Long, Talisman President, said: "We are thrilled to be involved in this underdeveloped and exciting gold project. Everything leads to the conclusion that this project will be successful in defining high grade gold prospects -- our hope is for the next Yanacocha."

About Talisman Holdings:

Talisman Holdings, Inc. (PINKSHEETS: TMHO) is a highly innovative holding company built on the belief that the world's greatest potential for financial growth lies in emerging companies. Talisman Holdings finds undervalued small and microcap businesses with breakthrough products, services and technologies and delivers the equity, financial guidance, strategic counsel, consulting and business functions they need in order to succeed in the public marketplace. Taking an ownership or equity stake in standout emerging growth companies creates assets and drives shareholder value for Talisman Holdings, and the diversified holding company organizational structure and range of industries provides diversity of risk. For more information please visit Talisman's website at www.talismanholdings.com.

FORWARD-LOOKING DISCLAIMER

This summary contains forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the Company's business plans. Such statements are based on management's current expectation and are subject to a number of factors and uncertainties, such as future economic conditions and changes in anticipated revenues and costs, which may cause actual results to differ materially. The Company expressively disclaims any future obligation or undertaking to update or revise any forward-looking statements contained herein. Investors and potential investors should independently investigate and fully understand all risks before making investment decisions.

Contact Information

  • For more information contact us at:
    Talisman Holdings, Inc.
    3035 Colony Lane
    Springfield, OH 45503
    Phone/fax (937) 342-0383
    info@talismanholdings.com