Hi Tommy,
Here is the entire announcement. It's from 7.5 years ago!
NTL
28/11/2013 15:52
MINE
REL: 1552 HRS New Talisman Gold Mines Limited
MINE: NTL: Talisman Mine Access Arrangement and Resource Consents
November 28th 2013
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL and NTLOA or NTLO)
FOR IMMEDIATE RELEASE
TALISMAN MINE ACCESS ARRANGEMENT AND RESOURCE CONSENTS
o NTL concludes agreement for access arrangement at Talisman Mine with
Department of Conservation and Ministry of Business, Innovation and
Employment
o Hauraki District Council grants NTL resource consents for bulk sampling and
underground development work plan at Talisman Mine
o New Talisman Gold Mines Limited positioned to commence development of
Talisman
New Talisman Gold Mines Limited is pleased to announce that it has signed an
agreement with the Department of Conservation and Ministry for Business,
Innovation and Employment covering the access arrangement for its Talisman
Mine project. The terms and conditions of the access arrangement will enable
the company to complete the bulk sampling and development work programme NTL
proposes as a lead-in to full mining operations.
The company is equally pleased to confirm that Hauraki District Council has
granted NTL the resource consents necessary to undertake the same bulk
sampling and underground development work programme. The underground work
programme includes operations such as drilling and blasting and the consents
specify the terms and conditions on which these and other operations may be
undertaken.
Commenting on these developments NTL Chairman Murray McKee stressed just how
important the access arrangement and resource consents were to the company's
future. "Two years ago the new board set out for shareholders a bold plan
to transform the company from explorer to producer. At that time we
identified two critical milestones - completion of a Pre-Feasibility Study
and conclusion of an access arrangement and resource consents - on the
journey through development to production. Passing those milestones today
represents a huge achievement and I congratulate all those involved. NTL is
now well positioned for the challenge of earning full value from the gold and
silver resources contained on the Talisman mining permit while running a safe
and environmentally sound operation. I am confident the board and
management team are up to that challenge" said Mr McKee.
Completion of the access arrangement and grant of the resource consents
brings to a successful conclusion over 8 months of detailed, complex work for
NTL and officials from the principal agencies involved. These include the
Department of Conservation, the Ministry of Business, Innovation and
Employment, Hauraki District Council, Environment Waikato, the New Zealand
Transport Agency and Historic Places Trust. "The company appreciates the
professional and courteous way in which officials from all the agencies
processed the various applications and agreements" McKee said.
The company consulted a broad range of stakeholders during the process and is
acutely aware of the high regard New Zealand communities have for their
natural environment. The company shares that regard and has sought to address
concerns raised in consultation. The company further emphasises that its
proposed operations at Talisman are very small and effectively confined to
the footprint of the historic Talisman mine workings. The company is
confident that its own operational procedures together with the terms and
conditions of the access arrangement and resource consents will ensure that
conservation, recreation, historic and other amenity values will be protected
and maintained. NTL also notes that development of the Talisman mine will
offer new employment opportunities in a sector that has seen considerable
contraction in employment numbers in recent years.
Executive Director Matthew Hill said "Progress on the Talisman Project has
been very pleasing and further underlines the company's commitment to
delivering value to our shareholders. We are now in a position to establish
New Talisman as a recognised developer and producer of precious metals in New
Zealand and deliver the first ore from the mine since Southern Gold Ltd
ceased operations in the early 1990's."
Underground development work and bulk sampling operations during the next
twelve months will focus on the Mystery vein and the Dubbo Zone of the Maria
vein. It is intended to remove the bulk samples through a series of small
reef drives which will generate valuable information on the metal content and
metallurgical behaviour of the ore.
Initially the company will concentrate on refurbishing the primary access
tunnel and establishing the power, water, electrical and ventilation systems
required for safe and efficient operations underground. This is expected to
take approximately six months to complete, following which sample removal
will commence. Material recovery is expected to build up to a steady state
level of between 600 and 700 tonnes per month over the ensuing six months.
Highlights of the Talisman project include:-
o The Pre-Feasibility Study completed in March 2013 found that a first-stage
development of an underground mine could deliver 32,200 ounces of golf during
its five-year life. It also concluded that the mine would have an estimated
production cost (C2) of US$750 per ounce.
o Ore Reserves at the Talisman gold project, based on an average in-situ
cut-off grade of 1.7g/t, are 82,500 tonnes at 10.8 grams per tonne gold and
48.1 grams per tonne silver.
o Estimates of the ore reserves in the Mystery and Dubbo Zone, targeted for
initial development indicate that they will contain an average of 12.0g/t of
gold. Individual samples collected from the Dubbo BM37 Bonanza Zone have
previously assayed gold grades in excess of 1% (10,000g/t).
o The project is expected to generate between 180oz and 200oz of gold per
month at steady state.
Matthew Hill
Executive Director
027 555 7737