Ann: Trading Halt, page-37

Well we've known since December 2014 that NTL obtained the initial geological computer model from a person who held a lot of historic records from the mine:


Historical Data: A detailed digital model of the Talisman mine, based on historical maps dating back more than 100 years, has been presented to the company. The data, which includes assay and other geological records, includes information on areas previously unknown to the company. NTL is in the process of finalising an agreement to acquire the data which will provide significant value in mine planning and resource development. Areas of significant interest were identified and will be further analysed for future mine planning once the data has been acquired.

NTL has been working this data which ranges from production levels from historic veins, surveyor's rock chip samples and all kinds of stuff from down in the mines. These give an accurate record of what was mined and what was down there in each vein as it was mined. They have added this to their own drill records and knowledge of the mine.

NTL initially proved up its 200,000 ounce gold and 800,000 ounce silver resource at Talisman using drilling. They said in their annual report that they were about to unleash potentially JORC compliant resources using this up-to-100 year old data.

These are the veins that have samples of up to 10,000 grams per ton of gold. Using the modelling techniques we have these days (compared to WW1 era when the samples were probably taken) NTL will be hopefully be able to apply modern (JORC Code 2012) resource analysis to what they now know about the mine.

The moral of the story is that we've known there's high grade stuff down there from company reports for freaking ages - but they have never been able to make a JORC Compliant Statement about how much they think is down there, grades, etc.

And now it seems they are in a position to start making some calls about what they think is down there - all without spending millions on drilling.

Meanwhile, we see companies release one drill core with moderate grades and instantly they are worth $30m-$60m with nothing more than one drill core.

Compare to NTL who is building the infrastructure to mine, has environmental consent to mine, has access agreement with the landowner and has $6m in the bank to fund itself into prospecting and bulk sampling.

I reckon the results will be spectacular and may even get NTL the attention it deserves - time to place NTL among the whacky junior valuations out there!