New Talisman Gold Mines Ltd
New Talisman Gold Mines Ltd
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New Talisman Goldmines is weighing a number of mining methods as it moves into detailed preparations for its strategic plan to produce gold from its New Zealand mine in 2023.
The company is holding meetings with a range of industry specialists in relevant disciplines to prepare to recommission the historic Talisman workings and establish a processing route at Karangahake in the North Island.
New Talisman Goldmines holds meetings with a range of industry specialists as it moves into detailed preparations for its strategic plan to produce gold from its NZ mine in 2023.
A recovery plan for the historic Talisman underground gold mine on New Zealand’s Coromandel Peninsula can now advance after shareholders in New Talisman Gold Mines backed a $NZ3.5M capital raise.
Chairman John Upperton welcomed the emphatic response from shareholders supporting its plans to resume operations in the historically highly productive Hauraki goldfields.
New Talisman shareholders have backed a $3.5M capital raise and recovery plan to advance its long-delayed plans to reopen its historic gold mine in New Zealand’s Coromandel Peninsula.
Ross Louthean reports
Plans by listed miner New Talisman to acquire and expand a “hobby” gold and silver mine in sensitive conservation lands in New Zealand’s Coromandel region have been abandoned, with the Australian-based purchaser concluding it won’t be able to gain official consent.
New Zealand’s only privately owned underground gold mine will come under ownership by NTL, with the signing of a binding term sheet to acquire the Broken Hills Historical Gold Mine on the Coromandel Peninsula.
Broken Hills, 20km N of OceanaGold’s under-development Wharekirauponga deposit, has been operated on a small scale for 21 years with consistent profitable production by leading NZ geologist Stuart Rabone and family members.
NTL is cleared to begin metallurgical testwork and produce the first small quantities of gold from its Talisman mine in New Zealand’s Coromandel region after gaining resource consent for operation of its pilot gold processing plant.
NTL sees the potential for a significant increase in resources and reserves at its Talisman mine in New Zealand’s Karangahake Gorge after sampling of the muckpile from its first mining of the Mystery vein returned high-grade ore up to 24g/t gold.
The company excavated 5t from the face of the Mystery vein under a resource consent granted in 2013, extending the vein by 1m.
CEO Matthew Hill says excavation deeper into Mystery should provide further confidence on the extent of the vein.
New Talisman has retracted a statement issued on June 26 relating to a scoping study setting out production targets and NPV calculations for its Talisman Deeps project in New Zealand.
Articles based on the scoping study have been deleted from our database.
NTL has begun extracting high-grade underground ore at its Talisman mine near Coromandel in NZ, with ore being stockpiled near the portal while it finalises concentrator design and reviews treatment options.
CEO Matthew Hill says the first gold and silver-bearing material is another milestone to re-establishing the historic mine.
It comes as refurbishment teams progressed over 600m underground to establish access to the Mystery vein at the 8 Level, where blasting is due to start in early 2018. NTL has identified 2 locations offering access to the 9 and 10 levels.