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NTL new talisman gold mines limited

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11,484 Posts.

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08/07/24

07:13

Post #: 74646690
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Originally posted by Johnycomelately ↑

For all thoseinterested in researching this company prior to its rights issue a copy of JORCcan be found online and a very interesting article of the risks of relying oninferred resources just to get a mineral resource let alone production HERE JORC : Mineral Resources and Ore Reserves

By definitionof JORC, “An Exploration Target is a [BCOLOR=rgba(16,110,190,.18)]statement or estimate of the exploration potentialof a mineral deposit[/BCOLOR] in a defined geological setting where the statement orestimate, quoted as a range of tonnes and a range of grade (or quality),relates to mineralisation for which there has been insufficient exploration toestimate a Mineral Resource.”

The fact is theMystery vein according to the companys own announcements is an inferred mineralresource. As the saying goes “Mineral resources are nice but RESERVES paythe bills!!”

The Mysteryresource is an inferred resource with very little exploration and very smallonly 15000 oz or 150 days production at the 100TPD plant being proposed assumingas set out below the Chip samples and further exploration translate to amineral resource of a measured level of confidence. Big IF!

The JORC Code^[1] defines an Inferred Mineral Resource as “that part of a Mineral Resource for which quantity and grade (orquality) are estimated on the basis of limited geological evidence andsampling” andfurther states that “an Inferred Mineral Resource has a lower level of confidence thanthat applying to an Indicated Mineral Resource and must not be converted to anOre Reserve” and “caution should be exercised if Inferred Mineral Resources areused to support technical and economic studies such as Scoping Studies”.

The geologicalcontinuity implied by the initial sampling may not be confirmed by moreclosely-spaced sampling, and the grade or quality estimates may changesignificantly (better or worse). Greater variability in the quantity andquality parameters of the mineralisation is also likely as detailed explorationprogresses.

As such thestatement made yesterday on Social media by John Upperton Director of New TalismanGold Limited as signed off being that “we have a poster declaring it wasn't 1% concentrate, but3%....based on an ounce a tonne of something.

Mystery vein has chip sampled at something closeto an ounce of gold per tonne....averaging over 30g/t.

Someone seems to be conflating the two and comingup with 3%?

It's a Mystery!”

In responseto valid technical questions relating to the mine and the Mystery vein

‘At the riskof spoon feeding those with 15 years experience in these matters....yes thereare more documents to come. An actual read of yesterday's exchangeannouncements makes that clear. It's the way a Rights Issue works.

Have fun in the sand pit folks. I'll try andremain quiet, but maybe folks might have a look back over the last few pagesand draw some conclusions……………..”

signed off as John Upperton
NTL Director

Well one candrawn some conclusions , based on the prior pages on this thread also and his comments.The technical statement (just after releasing a cleansing notice by a directorin a CLOSED period which is closed as there is clearly information in the offerdocument which the market is yet to be provided), does not meet JORC requirements to make ANY production forecast let alone what we saw in the offer document in Feb 2023 production table as was removed by ASX for failing to meet obligation in listing rules, which doesn’t add up. X tonnes divided by the average chip sample John states of 30gt = Y.

Seems thecompany is unwilling to answer straightforward questions following its announcementthat all matters prior to production were met, as it appears any queries by anyone at all are met by attacks on the poster rather than a sensible and professional discussion by directors which is expected to be of a very high level when they are asking shareholders to double up or dilute by 50%.

Jonu it wouldbe appreciated by all posters and readers of this thread if you could simplyanswer any queries at all to allow us to make an informed decision.

DOES THECOMPANY HAVE ALL CONSENTS NECESSARY TO COMMENCE PRODUCTION AT THE TALISMANMINE?.

YES OR NO?.

Expand

Why are we waiting on such a simple question,

Will they tell the truth or
Will they not tell the truth , it as simple as that !

NTL Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
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