Ann: MINE: NTL: Talisman First Gold Recovery

• Release Date: 17/09/13 17:17
• Summary: MINE: NTL: Talisman First Gold Recovery
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NTL
17/09/2013 15:17
MINE

REL: 1517 HRS New Talisman Gold Mines Limited

MINE: NTL: Talisman First Gold Recovery

17 September 2013
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL, NTLOA or NTLO)
FOR IMMEDIATE RELEASE

- FIRST GOLD RECOVERED FROM METALLURGICAL SAMPLES
- HIGH GRADE ORE ALLOWS FOR NON CHEMICAL RECOVERY METHODS

New Talisman Gold Mines Limited ("NTL"), today announces the first recovery
of gold from its Talisman gold mine as part of its metallurgical sampling as
a precursor to bulk sampling ramp up and test work. This was recovered
utilising state of the art non chemical extraction methods.
Talisman is an important gold resource for New Zealand and was in the past a
prolific gold producer and employer having produced 1 m oz of gold
historically, in a gold region which has produced over 8m oz of gold.
GOLD RECOVERED FROM METALLURGICAL SAMPLING
Metallurgical test work investigated a suitable floatation and gravity
recovery method of extracting gold from ore samples.  The company tested 146
kg of very finely ground ore and has produced approximately 3 ounces of gold
and silver.  Further concentrates will be used for more test work to evaluate
the most effective recovery rates.
Sample Collection
Hand selected samples were collected from the Talisman stockpile in bags of
approximately 8kg each. Samples were classified into rock types and an
example of each type retained for identification purposes. Samples were then
processed at the SGS Waihi laboratory being crushed and pulverised before
passing through a 50 micron screen (approximately the same grain size as
cement).  The pulverised product was then thoroughly mixed and a
representative sample taken for assay purposes.
Lower grade samples were discarded as the equipment is not sensitive enough
to record micro gram recovery levels. The assay results of the samples
selected for processing are tabulated below and a photographic record of
examples of those samples is shown in the table - see pdf attached.

Primary Concentrating

This testwork relied heavily on wet gravity separation to remove the clay and
other light minerals from the heavier electrum and sulphide minerals. It was
found to be important to pass as clean a concentrate as possible through the
final concentrator as the equipment relies on recirculating water and excess
clay was kept in suspension causing cloudy water to be passed back through
the separator bowl.
In order to float out the clay approximately 2.5kg at a time of the sample
was added to a bucket along with 3 litres of water and a small amount of
surfactant to break surface tension and prevent fine gold particles being
washed away. The mixture was stirred thoroughly to move the clay into
suspension and then allowed to settle for a minute. Approximately 2/3rd of
the liquid was then decanted and the process repeated until rapid settling
was attained. It was found that, on average and dependant on the grade of the
sample, a 7kg sample could be concentrated to approximately 160g of material
which was then passed through the final concentrator.

Matthew Hill, Executive Director, said "whilst this is a small amount of
gold, in the larger scheme of things it is key to demonstrating our fuller
understanding of the effectiveness of our extraction method options.  Without
unnecessary expenditure and use of chemicals, we have identified a number of
manufacturers to scale up the treatment options allowing for concentration
and extraction, prior to any toll treatment driving early revenues to the
company."
ABOVE: THE GOLD LAB UTILISING GRAVITY AND FLOTATION - resulting gold
recovered
"These are the first ounces recovered from the Talisman ore since New
Talisman owned the permit and show the huge strides the company has made its
final steps toward bulk sampling for which final approvals are underway.  We
have found nothing but support from shareholders and the wider community."
Following initial test work we expect to be able to recover up to 30 oz gold
per month using existing samples, while initiating precursor work toward bulk
sampling.

Matthew Hill
Executive Director
New Talisman Gold Mines Limited
+64 9 303 1893

Competent Person Statement
The information in this announcement that relates to Metallurgical Testwork
and gold recovery were prepared by Mr Wayne J Chowles, a Mining Engineer and
member of the AusIMM.  Mr Chowles is a full time employee of New Talisman
Gold Mines Limited and the testwork referred to in this release was carried
out under his direct supervision. He has sufficient experience which is to
the activity being undertaken to qualify as a Competent Person as defined in
the 2004 Edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves". Mr Chowles consents to the
inclusion in this report of the matters based on his information in the form
and context in which it appears.

About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZX Main Board & ASX: NTL) with 1800
shareholders who are mainly from Australia and New Zealand. It is a leading
New Zealand minerals development and exploration company with a portfolio of
high quality mineral interests. Its gold properties near Paeroa in the
Hauraki District of New Zealand are a granted mining permit, including a JORC
compliant mineral resource within the original Talisman underground mine, and
an adjacent exploration permit along strike from the mine. The company is now
advancing its plans to develop the mine, and advance the exploration project.
Through a subsidiary company, New Talisman Gold owns 21.7% of Broken Hill
Prospecting Limited, which is planning to develop a cobalt project at
Thackaringa, about 25 kilometres south-west of Broken Hill in Australia. BPL
is listed on the ASX (Code: BPL). More about New Talisman Gold at
www.newtalisman.co.nz
End CA:00241228 For:NTL    Type:MINE       Time:2013-09-17 15:17:29