Talisman a Part of the New Gold Rush With Its Project in Guyana
SPRINGFIELD, OH–(Marketwire – 04/08/11) – The search for gold is on! Despite increased demand, and significant price increases, gold production in the world has declined since 2001. This shortfall has created a frantic bull market. Talisman Holdings, Inc. (Pinksheets:TMHO) is capitalizing on this economic opportunity with its expanded activity in gold and precious minerals.
The Company is taking a position in gold development stage development and exploration concessions in Guyana. Initial development will begin with 6 of a total of 66 concessions, which comprise a total of 77,754 acres. The concession project is geographically located in Northwest Guyana, in the Upper Cuyuni region, and encompasses a belt that is approximately 20 miles by 5 miles. This is a known area of gold production.
Initial geological reports indicate the presence of “gold mineralization” and diamonds in the concession area. “Gold mineralization” means gold enrichment at levels many times higher than “normal” gold concentrations in any rock.
A summary of the geological survey shows projected measured and indicated resources of 41700 tonnes (115 billion) and potential inferred resources at 7,708 tonnes (125 billion) of gold. In short, the concessions are summarized as having potentially high growth, low cost and sustainability.
David Long, Talisman President, commented:
“With this project we are well positioned to see substantial revenue and earnings growth over the relatively near term — with unlimited long term possibilities.”