11:53 AM EDT, 04/04/2024 (MT Newswires) -- Talisker Resources ( TSKFF ) said Thursday it signed a nonbinding letter of intent to form a joint venture with Regeneration Enterprises to process the tailings resource from the Ladner gold project.

According to a statement, the proposed joint venture will be implemented in five phases, with Regeneration securing funding for each phase. Sampling is seen completed by end 2024, design by end 2025 and construction by end 2026. Production is targeted throughout 2027, 2028 and 2029 while site rehabilitation is expected to be completed by Dec. 31, 2030.

According to Talisker, the Ladner project contains a National Instrument 43-101-compliant tailings indicated resource of 445,000 tonnes grading at 1.64 g/t for 24,000 ounces of gold, and an inferred resource of 93,000 tonnes grading at 1.64 g/t for 5,000 ounces of gold, representing an estimated 60% of the tailings material. The remaining 40% remains undrilled.

"Having the proposed JV funded and managed by Regeneration allows Talisker to advance a secondary business while remaining focused on our flagship Bralorne asset, currently transitioning into production," Talisker chief executive Terry Harbort said in a release.

Talisker shares were last seen down C$0.015 to C$0.46 on the Toronto Stock Exchange.

Price: 0.46, Change: -0.01, Percent Change: -3.16