Ann: QUARTER: NTL: Quarterly Activities Report to

• Release Date: 30/01/14 18:24
• Summary: QUARTER: NTL: Quarterly Activities Report to 31 December 2013
• Price Sensitive: No
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					NTL
30/01/2014 16:24
QUARTER

REL: 1624 HRS New Talisman Gold Mines Limited

QUARTER: NTL: Quarterly Activities Report to 31 December 2013

ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED [ASX, NZSX: NTL, NTLOA]
FOR PUBLIC RELEASE
Quarterly Activities Report to 31st December
New Talisman Gold Mines Limited (NTL) is pleased to present the quarterly
report on activities for the period ended 31st December 2013.
HIGHLIGHTS
o Successful completion of a Share Purchase Plan
o Access Arrangement and Resource Consent granted for Bulk Sampling/Trial
Mining
o Heads of agreement signed with Chinese Investor Group for NZ$10.9M
o Sale of interest in Mpokoto Gold Project
CORPORATE
A share purchase plan (SPP) was completed during the period raising a total
of $348,445 before expenses. The SPP funds are being applied to the bulk
sampling/trial mining phase of the Talisman mine project and to fund NTL
working capital.
TALISMAN GOLD PROJECT (100%) - Hauraki District, NZ
Access agreement
During the period NTL entered into an access agreement with the Department of
Conservation over the Talisman mine permit area
Resource Consent
During the reporting period NTL received resource consent from the Hauraki
District Council over the Talisman mine project area.
Chinese investor group
On the 12th December 2013 NTL entered into a heads of agreement with St
Albans Pty Ltd for the full funding of the phase 1 of the Talisman mine
project catered for in the Pre-feasibility dated 31st March 2013. The HOA
provides for the investor to fund $10.9M NZD in return 65% of the project's
physical gold catered for in the Prefeasibility Study after costs. The
proposal provides for the investor to set up a separate processing facility
to treat the ore and first right of refusal on future joint ventures with
NTL.
Following the reporting date the company has received formal extension
request by the group and a site visit and import of specialized treatment
equipment is currently planned for mid February.

SUBSIDIARY COMPANY - COROMANDEL GOLD LIMITED (100%) [Not Listed]
Golden Valley Gold Project (100%) - Hauraki District, NZ
The proposed drilling programme is under review while targets identified are
being verified.
Northland Base and Precious Metals Project (100%) - Northland region, NZ
Exploration planned for the current year is being based on results of
previous prospecting work by the company and the literature and data review
in 2013.
BROKEN HILL PROSPECTING LTD (21.7%) - NSW, Australia [ASX:BPL]
BPL is evaluating opportunities to establish a sulphuric acid industry with
pyrite concentrate from BPL's deposits as a feed source for a pyrite roasting
plant. Several established chemical companies are assessing the business
model.
A new website (http://brokenhillchemical.com) to promote new chemical
opportunities from sulphuric acid production from future processing of
cobalt-pyrite ore has been established.
In early December a University of NSW student commenced a study of cobalt in
soils and gossans in the project area. The thesis work will have particular
emphasis on the mobility of cobalt in the weathering processes and results
will benefit ongoing exploration.
The Australian Graduate School of Management, University of NSW (AGSM) is
using the Broken Hill Chemical business as a case study for a small team of
graduate students. The study will commence in early 2014 and take several
months to complete as part of the AGSM's MBA graduate course.
The 2013 Research & Development Tax Incentive Schedule for Broken Hill
Prospecting Limited for the year ended 30 June 2013 was calculated with
assistance from KMPG and a refundable R&D Tax offset amount of $344,973.60
was received in early December.
MPOKOTO GOLD PROJECT SALE OF INTERESTS
During the period NTL sold its interests in Netcom, the holder of the Mpokoto
Gold project interests to Armadale Capital PLC, a listed AIM company for 93
million shares in Armadale. Subsequent to the period NTL completed its
program to sell down the Armadale Capital PLC (ACP) shares issued following
the acquisition by ACP of NTL's interests in the Mpokoto Gold Project. A net
return of over 38% on the initial investment was made in February 2013.
Matthew Hill
Executive Director
+ 64 9 303 1893

About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & ASX: NTL) leading New Zealand
minerals development company with 1800 shareholders who are mainly from
Australia and New Zealand.
The company's flagship asset the Talisman mine holds a JORC compliant mineral
resource, a JORC compliant reserve and has been granted resource consents and
access arrangements for the initial phase of the project. The company is
currently initiating bulk sampling at Talisman and continues to advance the
development of the mine. New Talisman's wholly owned subsidiary Coromandel
Gold Limited holds a portfolio of high quality mineral interests and gold
properties in the Hauraki and Northland Districts of New Zealand.
New Talisman Gold owns 21.7% of Broken Hill Prospecting Limited, which holds
a cobaltiferous pyrite 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.newtalismangold.co.nz
End CA:00246522 For:NTL    Type:QUARTER    Time:2014-01-30 16:24:13