Auckland, April 21, 2017 AEST (ABN Newswire) - New Talisman Gold Mines Limited (ASX:NTL) is pleased to present the quarterly report on activities for the period ended 31 March 2017.

Key Highlights

- Operations at Talisman site to commence immediately

- Talisman Deeps data provides evidence of potential to increase gold resources below 15 Level

- Talisman Deeps provides significant opportunity to expand bulk sampling footprint beyond current resource

- Certificate of Compliance issued which allows establishment of site activities at Talisman Mine site

- Road movements allowed for in the certificate granted

- Newcrest completes first quarter activities at Rahu

- K S Black appointed as auditor

- Coromandel Gold in discussions on Vanuatu projects

During the period under review the company has been busy establishing further components to the Talisman Deeps project development which is proving significant for the long term future of the Talisman Mine. The team has also been focussed on gaining access to the site and the Board is delighted to announce it has today been granted a certificate of compliance which will allow commencement of activities at the site immediately.

As announced in the previous quarterly report the company and council are working together on finalising a traffic management plan (TMP) that meets the needs of council and NTL. Whilst Company mine traffic on the road will be minimal, with reference to safety guidelines we have sought specialist input from our engineers and the council engineers

As detailed further below the company has been working on the Talisman deeps project which has resulted in identification of a number of additional areas of mineralisation which can potentially be included in the bulk sampling project. Accessing these areas will require opening up and making safe a number of the historical drives, particularly those connecting 8 Level with 7 Level above and 10 Level below.

In order to commence these works the company lodged with the Hauraki District Council in December an application for a certificate of compliance to undertake permitted activities under the district plan in order to evaluate the Talisman deeps and Talisman mine projects. The activities, which have been outlined as separate from activities to be undertaken under the resource consent held for bulk sampling, allows the company to begin site works immediately.

To ensure that we are compliant with the requirements of the district plan the company engaged independent planning experts to assist in compiling the scope of work. The scope was examined by planners employed by the District Council and verified by a third party independent consultancy. Whilst this has taken some time, we are pleased to report that it has progressed and has proved ultimately successful.

The Certificate of Compliance has been granted which will allow the company to immediately commence activities on site and begin sampling work at the mine to test Talisman and Talisman Deeps geological data. Many of the activities are core to safe operations at the site and therefore will not have to be duplicated upon commencement of bulk sampling under the resource consent.

The works being undertaken at site include: -

- Perimeter fencing - erection of safety and security fencing around the portal site;

- Construction of the portal pad and associated structures;

- Ventilation fan - installation of a new ventilation fan at the entrance to the mine;

- Installation of a Generator and Air compressor;

- Installation of reticulation services through the underground workings;

- Removal of old beams and replacement of underground structures;

- Sampling and Drilling at Mystery and other targeted areas.;

- Establishment of site office and security office;

- Road use and maintenance - to enable safe and efficient transport of prospecting vehicles; and

- Vegetation management - trimming and weed control as necessary within the site and within the existing footprint of the mine road.

The Construction of the above will commence immediately and will be carried out in parallel with the works required to fully implement the requirements of the Traffic Management Plan.

Chairman Charbel Nader said "It is a pleasure to say we are commencing works at the Talisman site area. With access now available to establish the site we are well on our way to progressing our ambitions for the historically productive Talisman Mine.

We intend to undertake sampling operations to establish the deeper orebody immediately whilst finalising the Traffic management plan. We are very excited by the prospect of Talisman Deeps and believe it will likely enhance the bulk sampling project and ultimately the long term future of the mine ."

Design work on the project has progressed well and is approaching completion.

Electrical Design

All drawings are drafted and have gone through final checks and verifications, Equipment lists are in place and suitable suppliers for the various components have been identified.

Vent Lock

Final reviews of the mechanical and structural drawings are complete and we are preparing the tender documentation for construction of the lock.

To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/BW71R884


About New Talisman Gold Mines Limited

New Talisman Gold Mines LimitedNew Talisman Gold Mines Limited (NZE:NTL) (ASX:NTL) is a dual listed with over 2,300 shareholders who are mainly from Australia and New Zealand. It is a leading New Zealand minerals development and exploration company with a mining permit encompassing the Talisman mine one of New Zealand’s historically most productive gold mines. Its gold properties near Paeroa in the Hauraki District of New Zealand are a granted mining permit, including a JORC compliant mineral resource within the original Talisman underground mine, and a Heads of agreement with Newcrest on 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.

More about New Talisman Gold visit the Company website, here.

 


Contact

New Talisman Gold Mines Limited
T: +64-9303-1893
F: +64-9303-1612
E: info@newtalisman.co.nz
WWW: www.newtalisman.co.nz



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