Ann: QUARTER: NTL: Quarterly Activities Report to

• Release Date: 31/10/13 12:14
• Summary: QUARTER: NTL: Quarterly Activities Report to 30 September 2013
• Price Sensitive: No
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					NTL
31/10/2013 10:14
QUARTER

REL: 1014 HRS New Talisman Gold Mines Limited

QUARTER: NTL: Quarterly Activities Report to 30 September 2013

ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED [ASX, NZSX: NTL]
FOR PUBLIC RELEASE
Quarterly Activities Report to 30th September 2013
New Talisman Gold Mines Limited (NTL) is pleased to present the quarterly
report on activities for the period ended 30th September 2013.
HIGHLIGHTS
- Completion of further metallurgical testing identified ore samples up to
453g/t gold (14.6 ounces per tonne Au)
- Talisman Mine Maiden Ore reserve for start-up phase contains 28,800 ounces
gold and 127,800 ounces silver
- Gap Analysis completed by Hatch Goba
- First gold recovery using non chemical methods
- Share Purchase Plan raises NZ$348,445
- Broken Hill Prospecting Limited update
CORPORATE
A share purchase plan (SPP) was initiated during the period to raise funds at
a price of NZ 1 cents per share. The SPP funds are to investigate bulk
sampling and trial mining methods and to fund NTL working capital. Following
the reporting period the SPP raised NZ$348,445 before expenses.
TALISMAN GOLD PROJECT (100%) - Hauraki District, NZ
Metallurgical Testwork
During the period NTL continued to sample stockpiles at the Talisman mine and
these samples contained high gold content ranging to 453g/t gold. NTL will
continue to test representative samples of ore stockpiles from the previous
Talisman workings.
Gold Recovery
Continuing metallurgical test work is investigating a suitable floatation and
gravity recovery method for extracting gold from ore and stockpile samples.
The company tested 146 kilograms of fine-ground ore and has produced
approximately 3 ounces of gold and silver. Additional concentrates will be
used for planned test work to evaluate the most effective gold recovery using
a variety of methods during the bulk sampling evaluation work.
"Executive Director Matthew Hill said "the continuing metallurgical test work
at Talisman is very encouraging given some of the high grades of the
representative samples tested by SGS. We will continue to test further ore as
we initiate bulk sampling. Coupled with this, the work carried out by our
technical team on potential extraction methods has given us a greater
understanding of the options for the most efficient metallurgical extraction
route as we proceed toward production".
Maiden Ore reserve
During the period the Company announced a maiden JORC (2004) compliant Ore
Reserve for the Talisman Mine. Ore Reserves at the Talisman gold project,
based on an average insitu cut-off grade of 1.7g/t Au, are 82,500 tonnes at
10.8 grams per tonne gold and 48.1 grams per tonne silver. Ore Reserves are
derived from and contained within, not additional to, the Measured and
Indicated portions of the Mineral Resource. This ore reserve estimate
reflects the outcome of the Pre-Feasibility Study conducted on Phase 1 of the
Talisman Mine Project, and forms a solid basis for the company to proceed
with further project development.
Hatch Goba Gap Analysis completed
During the period a gap analysis on the Pre-Feasibility Study was carried out
by Hatch Goba. Based on this analysis NTL are confident that the
Pre-Feasibility Study conforms to the requirements of a Technical Study as
defined in the joint Ore Reserves Committee Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves 2004 (the JORC
(2004) Code).
SUBSIDIARY COMPANY - COROMANDEL GOLD LIMITED (100%) [Not Listed]
Golden Valley Gold Project (100%) - Hauraki District, NZ
During the period all project exploration data was reviewed to aid selection
of favourable drilling targets. These are designed to test several gold and
silver geochemical anomalies that overlay geophysical and geological
anomalies. Target selection will be checked in the field in the December
quarter.
Northland Base and Precious Metals Project (100%) - Northland region, NZ
Historical data derived from the recent literature survey is being used to
design a ground exploration programme. This will include field verification
for planned exploration coverage.
BROKEN HILL PROSPECTING LTD 'BPL' (21.7%) - NSW, AUSTRALIA [ASX/NZSX: BPL]
Broken Hill Prospecting Ltd has continued work at the Thackaringa cobalt
deposit near Broken Hill, NSW, Australia. The Company has been granted a new
exploration license located immediately to the south of the cobalt deposits
in EL6622, ML86 and ML87.
Broken Hill Prospecting Ltd is evaluating the potential for a sulphuric acid
industry using cobalt-pyrite concentrate from the Company's deposits as a
feed source. Several large, international chemical groups are assessing the
business model. The cobalt-rich pyrite deposits are particularly well suited
to acid production as they contain negligible deleterious metals, are very
large and are well located for cost effective open-cut development.
The Annual General Meeting of Broken Hill Prospecting Limited will be held at
Level 14, 52 Phillip Street Sydney Australia on Friday 15th November 2013 at
11:00 am (Sydney time).
MPOKOTO GOLD PROJECT
During the quarter Armadale Capital PLC, a listed AIM company made an offer
to acquire up to 90% of the shares in Netcom.  Peregrine Corporate, advisers
to Armadale Capital, subsequently entered discussions with New Talisman
regarding its 12.5% equity position in Netcom and its $250,000 loan.   At the
end of the quarter the parties were still in discussion.
Matthew Hill
Executive Director
+ 64 9 303 1893

_____________________________________________________________________________
___________________

About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & 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 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 both the ASX and
NZSX (Code: BPL).   More about New Talisman Gold at www.newtalisman.co.nz
Competent Person Statement:
The information in this announcement that relates to the Talisman Project
Pre-Feasibility Study and the Ore Reserve estimates 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 author of the
Talisman Prefeasibility Study referred to in this release. He has sufficient
experience which is relevant to the style of mineralisation and type of
deposit under consideration and 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.
Hatch Goba Disclaimer
The Gap Analysis report was prepared "Hatch", for the sole and exclusive
benefit of New Talisman Gold Mines Ltd for the purpose of providing a GAP
analysis for the New Talisman Pre-feasibility Study (FEL2) and may not be
provided to, relied upon or used by any third party.  Any use of this report
by the Owner is subject to the terms and conditions of the Services Agreement
between Hatch and the Owner dated, including the limitations on liability set
out therein.
This report is meant to be read as a whole, and sections should not be read
or relied upon out of context. The report includes information provided by
the Owner, the Third Party Consultants and by certain other parties on behalf
of the Owner.  Unless specifically stated otherwise, Hatch has not verified
such information and disclaims any responsibility or liability in connection
with such information. In addition, Hatch has no responsibility for, and
disclaims all liability in connection with, the sections of this report that
have been prepared by the Owner or by the Third Party Consultants.
This report contains the expression of the professional opinion of Hatch,
based upon information available at the time of preparation. The quality of
the information, conclusions and estimates contained herein is consistent
with the intended level of accuracy as set out in this report, as well as the
circumstances and constraints under which this report was prepared.
However, this report is a GAP Analysis review and, accordingly, all estimates
and projections contained herein are based on limited and incomplete data.
Therefore, while the work, results, estimates and projections herein may be
considered to be generally indicative of the nature and quality of the
Project, they are not definitive. No representations or predictions are
intended as to the results of future work, nor can there be any promises that
the estimates and projections in this report will be sustained in future
work.
End CA:00243125 For:NTL    Type:QUARTER    Time:2013-10-31 10:14:48