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29/7/2015 — Gold
NTL gains new data base on Talisman
A private data base on the Talisman mine at Karangahake has been acquired by project owner New Talisman Gold Mines Ltd (NZX & ASX: NTL).
The company said the data base was acquired for a mixture of cash and shares.
It takes in samples, assays and mine plans and provides an extensive amount of detail on the lower levels of the mine.
NTL managing director Matthew Hill said much of this data dates back to the early 1900s and the initial presentation of this material showed other areas in the mine with potentially similar grades to the Dubbo Zone.
A unique opportunity now exists to integrate this historic data with NTL’s own extensive data of the upper levels of the Talisman mine to target extensions of known gold mineralisation and new areas with resource potential where information was insufficient to direct exploration previously.
Hill said that in addition there was information on parallel vein systems to the main Maria and Welcome-Crown and Mystery veins within the more than one kilometre wide mineralised zone that hosts the Karangahake gold deposits.
Many of these were mined historically but there has, until now been scant data on their location and gold grades.
He said that subject to meeting JORC requirements it was anticipated this historic data will enable expansion of the resource targets, generate new exploration targets and possibly enable some areas with defined JORC compliant resources to have their resource category upgraded.
He said acquisition of this database was the most comprehensive collection ever compiled on Talisman including both NTL’s previous exploration work and historical work completed over decades.
Hill said from a mine planning perspective the database provides an invaluable resource for accurately developing a “fuller mine plan.”
Hill said the new data will allow NTL to target areas at the deeper levels of the mine where, on the initial review, appears to hold a number of high grade zones.
The company did not name the vendor of the data base.