http://www.*.com.au/companies/news/181382/new-ta...

http://www.*.com.au/companies/news/...releases-another-resource-upgrade-181382.html

New Talisman Gold Mines (ASX:NTL) has increased both the gold resource size and grade of the Woodstock zone within the 100% owned  Talisman Gold Mine located in New Zealand.
Woodstock is the second of three modules being upgraded that pertain to the Talisman Deeps area of the mine.

The Woodstock resource has been increased by 25% to 41,170 ounces and the gold grade has increased by 75% to 6.30 g/t gold.
The resource upgrade for the final third module, the Talisman/Bonanza zone, is expected to be delivered by the end of July.

Charbel Nader, chairman, commented: “The work on the New Talisman Deeps resource modules has been an exciting and promising development for the company.
“As the results are exceeding original expectations the company may potentially review the manner and or timing of the exploitation of these resources.”
New Woodstock zone resource

The Woodstock Zone is the smallest resource and is the second module of the Talisman deeps resource upgrade process.
The JORC compliant resource for Woodstock now stands at 203,102 tonnes grading 6.30 g/t gold for 41,170 ounces of gold.
The resource upgrade at Woodstock and any further resource increases at Talisman Deeps in its entirety will be included in an updated pre-feasibility study and ore reserve.
The remaining module's resource upgrade is on target for completion in the coming days.
Mine development updates

The prospecting phase currently well underway at the Talisman site has established the site and the refurbishment of underground areas is providing access to the Mystery Vein.
The underground team are now some 300 metres inside the mine and are near completion of attachments for water and compressed air hoses to allow specialist equipment needed install robust ground support.
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.
During August 2016, the company commenced an exercise to quantify gold mineralisation thought to be hosted at depths, which is known as Talisman Deeps.