New Talisman Gold Mines has increased the gold resource and grade of the Woodstock Zone at the Talisman Gold Mine in New Zealand. The resource has been increased by 25% to 41,170 ounces and the gold grade by 75% to 6.30 g/t.

It is the second of three modules being upgraded within the Talisman Deeps area of the mine and follows the recent upgrade to the Dubbo Zone, which saw resources increase by 102% to 312,800 ounces grading 21.98 g/t.

The resource for the third module, the Talisman/Bonanza zone, is expected to be delivered by the end of July.

New Talisman chairman Charbel Nader said, “The work on the Talisman Deeps resource modules has been an exciting and promising development for the company.

“As the results are exceeding original expectations the company may potentially review the manner and or timing of the exploitation of these resources.”

Woodstock is the smallest resource and the JORC-compliant resource now stands at 203,102 tonnes grading 6.30 g/t.

The resource upgrade at Woodstock and any further resource increases at Talisman Deeps in its entirety will be included in an updated pre-feasibility study and ore reserve.

Meantime, the company has completed site works at surface and is progressing well with underground refurbishments, which it says are ahead on both time and budget.

The 0.4 hectare surface footprint of the site has once again been closed off and secured as it has been for over 26 years. Surface disturbances have been small and a silenced generator is being used while the company investigates restoring mains power to the mine.

Future work will be mainly done underground and once strengthening and widening of sets is complete, a small underground loader will enter the mine.

CEO Matthew Hill said, “While it has taken over two decades to be an overnight success we are very proud of the work which has been accomplished in such a short space of time.

“The development of this national treasure which historically employed thousands of people before slowing down due to a world war is once again well on its way to production. We are delighted at the support by most of the local community.

“As they say grade is king and the Talisman mine which is up there in the world’s highest grade gold deposits is well set on its pathway towards to becoming a world class mine.”

www.newtalismangoldmines.co.nz

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