New Talisman Gold Mines focused on New Zealand gold mine in 2017

New Talisman Gold Mines focused on New Zealand gold mine in 2017
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08:00 01 Feb 2017
The immediate focus remains on the final road design.
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New Talisman continued to make progress during the December quarter

New Talisman Gold Mines (ASX:NTL) continued to make progress during the December quarter towards initiating works at the Talisman gold mine located in New Zealand.

The immediate focus remains on agreeing the final road design parameters with local council.

Once complete the company will be able to issue tender documents for the full scope of works including earthworks and traffic control requirements. Work on the update of the pre-feasibility study continues with current efforts centred on an update of the resource estimate.

This is being run in parallel with the Talisman Deeps project, where extensions to the existing indicated and inferred mineral resources are trying to be identified using historical data.


Background

New Talisman retains a 100% interest in the Talisman Mine and a 20% interest in the Rahu Project which is immediately to the north of the Talisman mine in New Zealand.

A pre-feasibility study for underground mining at the Talisman confirmed an initial phase one life of mine of 5 years to generate NZ$68.2 million in revenues and a cash surplus of NZ$23.4 million.

The company has an agreement with Newcrest Mining Ltd (ASX:NCM) at Rahu for Newcrest to spend up to $5 million on an exploration permit.


Talisman Deeps project

The first stage of this project will involve merging all existing data into one comprehensive database and compiling the most advanced three dimensional model of the mines geology and historical workings ever produced.

Data verification of the historical geochemical sampling database is complete, the most important historical plans have been digitally scanned and digitising of the historic workings and structural geology is now well underway.

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