Auckland, Mar 18, 2008 AEST (ABN Newswire) - Heritage Gold (ASX: HTM), New Zealand's leading listed mining exploration company today announced that it is looking at the further development of its Talisman mine.
The Talisman mine comprises the Maria, Crown/Welcome and Mystery veins. Mystery Vein, unheard of before the 1980’s, has shown significant gold intersections in systematic channel sampling undertaken by Heritage Gold previously.
Trent Lash, Managing Director for Heritage Gold says the scoping study has been initiated as part of the process of evaluating the future viability of the Talisman asset.
"Heritage Gold believes that the Talisman mine has significant value and offers real potential as historically it has delivered a result of 1.125 million tonnes of ore averaging 23.1 grams per tonne gold and 86 grams per tonne silver. Our view is that it will become a significant gold producer," says Lash. Lash says that Heritage Gold undertaking the scoping study is one of the first steps required to fully evaluate the potential of the Talisman Mine.
"We are engaging an external specialist to assist us with the scoping study process, to better understand Talisman's gold bearing potential and how it might be developed."
Listed on both the Australian and New Zealand stock exchanges, Heritage Gold holds quality gold properties and base metal assets in New Zealand as well as cobalt and uranium properties in Australia.
DISCLOSURE:
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Murray Ronald Stevens, who is a member of the Australian Institute of Mining and Metallurgy. Murray Ronald Stevens has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Murray Ronald Stevens consents to the inclusion in the report of the matters based on his information in the form and context in which is appears.
Contact
Trent Lash
Managing Director
Ph +64-9-303-1893;
Mbl: +64-21-424-989
Julien Leys
JML Communications
Mobile +64 21 655 598
WEB: www.heritagegold.co.nz
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