Fougnar License Renewal
Talisman Metals PLC has successfully renewed its Fougnar licenses 3942418 and 3942419 for a four-year term until May 8, 2030, following positive fieldwork in the first half of 2026. These licenses, covering 30.6km², are eligible for conversion to exploitation status and are located approximately 25km from the Tizert Cu-Ag deposit. The company plans to commence a drilling campaign at the Fougnar Project in the fourth quarter of 2026, having previously reported channel samples with grades ranging from 0.50% to 1.45% Cu and up to 70 g/t Ag.
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Talisman Metals PLC ("Talisman" or the "Company") announces the successful renewal of the Fougnar Licenses. Talisman has successfully renewed licenses 3942418 and 3942419, which together comprise the Fougnar Project (see press release 24 February 2026). The licenses were renewed on the back of successful field work done by Talisman in 1H2026. Both licenses were renewed by the Agadir office of the Ministry of Energy and Mines and are valid for a four-year term to 8 May 2030. Both licenses are eligible for conversion to exploitation status as per Moroccan mining legislation and regulations.
Management intends to conduct a drilling campaign at the Fougnar Project in 4Q2026 (pushed from the planned 3Q2026 start time).
Maps 1 & 2: Fougnar Project Map and Map Detail
About the Fougnar Project
The Fougnar Project is comprised of two exploration licenses covering a surface area of 30.6km2 and is held 100% by Talisman via a Moroccan subsidiary. Talisman exploration at Fougnar targets approximately 8km of strike length along known Cu occurrences and at least two stratigraphic levels, where past channel samples returned grades in the range of 0.50% to 1.45% Cu and up to 70 g/t Ag. Fougnar is a sediment-hosted stratiform copper system (SHSC). Fougnar is approximately 25km away from the very large Tizert Cu-Ag deposit that is being mined by the Managem Group (Measured and Indicated Mineral Resource of 76Mt with an average grade of 0.8% Cu + 17 g/t Ag, presently mines 4M tonnes of material annually). Tizert serves as a general geological model for Fougnar.
| Sediment-hosted stratiform copper (SHSC) | Copper mineralisation confined to a single sedimentary layer or a small number of closely associated sedimentary layers. The copper minerals in near-surface oxidized material usually comprise mixed copper oxides and copper carbonates, the latter usually dominated by the copper carbonate malachite. Below the depth of oxidation (weathering) the copper minerals comprise mostly copper sulfides. Silver minerals are a relatively common component of this kind of mineral deposit. |
Nominated Adviser Statement
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