The long road to achieve commercial production for redevelopment of the Talisman gold mine at Karangahake has been traversed.
Owner New Talisman gold Mines Ltd (NZX & ASX: NTL) announced it has begun mining activity at Talisman under the resource consent granted in 2013.
A total of five tonnes of ore from the face of the mine’s Mystery Vein has been excavated and the mine face has been extended. Results of sampling demonstrated the presence of high-grade ore grading up to 24 grams/tonne gold.
Chief executive Matthew Hill said it was hoped deeper excavation into Mystery will provide confidence to extend this development.
“The long-held belief that the Mystery Vein continues in line with the main vein system provides the potential for a significant uplift in resources and ultimately reserves,” he said.
Hill said the Traffic Management Plan (TMP) approved by the Hauraki District Council allows for:
• A start to underground mining at Talisman.
• Extraction of ore from Mystery and the Maria veins by drilling and blasting.
• Conveying this material to surface and transport from site to a processing facility.
The consent will allow New Talisman to extract up to 20,000 cubic metres of ore per annum.
Companies mentioned in article