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2/11/2018 — Gold
Offtake talks underway on Talisman

Talks are continuing with several parties that approached New Talisman Gold Mines Ltd (NZX & ASX: NTL) either on the purchase of ore or acquiring a concentrate from the Talisman mine re-development at Karangahake.

New Talisman’s September quarter report said blasting and extraction has begun at Talisman and the pilot plant has been installed, tuned and commissioned.

Once recovery rates are confirmed the company will be “better positioned: to take these discussions to a commercial conclusion.

It is expected that by the end of the first quarter of 2019 New Talisman will have sufficient data from the pilot plant to determine the maximum volumes of concentrate and bullion produced which can be produced directly from the pilot plant, and the recovery rates.

The report said that it was noted previously that the primary fan for the mine had been delivered as well as a 250kva generator delivered to Waihi, and have since been commissioned.

With these in place NTL undertook the first blasts in the Talisman mine, with the initial blast taken on the Mystery Vein.

Managing director Matthew Hill said the company had reopened for new development to mark the 125th anniversary of operations at this Karangahake mine, which has been one of the country’s historic major producers.

Key milestones for Talisman include:

  • The traffic management plan was approved by the Hauraki District Council and activities began under the resource consent granted by the council back in 2013. The plan allows for transporting of ore from the mine, with one blast every day for the next +2 years.
  • Commissioning of the silenced 250KVA generator and control room. The operation now has reliable power supply to the main ventilation fan and other site equipment.
  • Installation and commissioning of the primary ventilation fan, mounted above the airlock and connected to the mine via a reinforced concrete tunnel. It is fitted with silencing equipment to reduce noise emissions.

Following rehabilitation into the Mystery Zone NTL started the maiden blast at Mystery. About 8 tonnes of vein material has been extracted.

Samples from ore generated by the first blast were analysed for gold and silver content at the SGS laboratory in Waihi and yielded an average grade of 7.1 grams/tonne gold.

The company said work has started on clearing ore from an historical stope on the Maria Vein. Over 40t of ore has been extracted in recent weeks and has been stockpiled for later transport to the pilot plant facility once commissioned.

Rehabilitation of old workings through to the start of the BM37 zone at Dubbo Zone was completed in the quarter and, once vehicle access is attained, loading of rock from the base of the BM37 rise can begin. Clearing this rock will provide access to the high-grade Dubbo Zone of the Maria Vein.

This is the site of the last mining by previous owners in the late 1980s and was identified by borehole BM37 which assayed 656 g/t gold over 1.8 ,metres.

The company said that with mining operations having begun, the company has initiated a planning assessment of resource consent requirements to support the longer-term future of the mine.

The company has also put in applications for access and consent to initiate fieldwork at the nearby Rahu prospect.

PDF File Quarterly report. (908.9 kilobytes)
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