BY acquiring Newcrest Mining subsidiary, Newcrest New Zealand Exploration, New Talisman Gold Mines has secured the remaining 80% of the Rahu Gold Project that it did not already own. New Talisman is now evaluating options to fast-track the North Island exploration project having acquired all geological and site targeting data and logging.
The sale and purchase agreement supersedes all previous agreements with New Talisman’s joint venture partner Newcrest.
The Rahu permit is to the north of Karangahake Gorge, between Mackaytown and Waikino, and covers the Rahu Ridge-White Rocks area, which is primarily rolling farmland. It extends into Department of Conservation scrub and forest in the north of the permit.
It also lies immediately north of New Talisman’s Talisman project and is on the same strike lines as the gold bearing veins at this location.
New Talisman’s CEO Matthew Hill said “Following discussions with Newcrest it was agreed that New Talisman could acquire Newcrest’s 80% interest in Rahu. We are very excited by the opportunity of this drill-ready prospect and appreciate the efforts of the Newcrest team in completing this transaction in a short space of time.”
Company chairman Charbel Nader said, “We are pleased to take effective ownership of the Rahu asset. Newcrest has been a great partner, however with our on-ground NZ presence and expertise, and our desire to move ahead in developing this asset expeditiously, this deal makes sense for all.”
Prior to entering JV discussions with Newcrest New Talisman had completed a comprehensive exploration and evaluation work program on the permit which delineated a 700 metre wide x 1.5km long NNE trending zone of mineralisation and hydrothermal alteration. This has been shown to be the NNE extension of the Karangahake system recognised within the Talisman permit.
There have been 31 drill holes, totalling 4585 metres, completed into this structure and these have intersected highly anomalous gold and silver values with some high-grade gold and silver intercepts.
Upon completion of a placement and conditional upon sufficient funds being raised, the sites targeted by Newcrest for drilling will be finalised by New Talisman and applications made to commence drilling as soon as possible.
Kingsrose Mining has appointed Paul Jago as chief executive officer. He is a mining engineer with more than 20 years’ operational and management experience across a diverse range of operations and commodities.
Arc Exploration advises that Robert Willcocks has retired as a non-executive director. He first became a director in July 2008.
|Blake Moret and Keith Nosbusch.|
Luke Colton has been appointed Turquoise Hill Resources’ chief financial officer. He has more than 15 years of financial experience and was previously CFO for Richards Bay Minerals in South Africa. The company also announces the resignation of director Craig Stegman.
The Board of Directors of Rockwell Automation has elected president and CEO Blake Moret as chairman effective January 1, 2018. He succeeds Keith Nosbusch, who has served as chairman since 2005 and remains as a director.
The Chamber of Mines of the Philippines has elected mining veteran and ex-banker Gerard Brimo, president and CEO of Nickel Asia Corp, as its new chair to lead the mining industry in navigating a challenging regulatory environment. This follows the retirement of Benjamin Philip Romualdez, who had been president since 2004.
Irving Resources has appointed Douglas B Buchanan, QC, as a strategic advisor to provide independent business and strategic advice to the company and its subsidiaries.
Asian Mineral Resources, which owns the Ban Phuc Nickel Project in Vietnam, announces the appointment of Kate Southwell to the Board of Directors, replacing Martyn Buttenshaw who has resigned.
PYBAR Mining Services has appointed Brendan Rouse, co-founder and former COO, to the position of CEO. It follows the decision by co-founder and CEO Paul Rouse, to assume the role of executive chairman. Scott Todd, formerly manager of technical services, has been promoted to the role of COO.
Experienced mine manager John Lamb has been appointed executive chairman and CEO of Myanmar Metals.
TerraCom Limited announces the appointment of Wal Macarthur King, AO, as non-executive chairman replacing Cameron McRae who stepped down from the role but remains a non-executive director. David Stone has also resigned as an executive director.
Damien Henderson and Darcy Wentworth have been appointed to the Board of Kangaroo Resources.
Nic Earner has been appointed managing director of Alkane Resources, replacing Ian Chalmers will has stepped down but remains on the Board as technical director. In addition, chairman John Dunlop has retired and Ian Gandel has assumed the role of non-executive chairman.
Oracle Power has appointed Mark Steed as a non-executive director and has also appointed Andreas Migge to its Board.
BMT Group Ltd has appointed Sarah Kenny as chief executive, succeeding Peter French, who retired in September. Richard Adam has joined the Board as a non-executive director.
Michael Wright has been appointed deputy chief executive officer for CIMIC Group. He was previously CIMIC Group Mining and Mineral Processing executive and Thiess managing director.
Ausmex Mining Group announces that (Joseph) Yosse Goldberg has agreed to join the Board as non-executive chairman replacing David Wheeler.
Michael Brachthäuser is the new manager of the cement business sector of BEUMER Group. In this function, he controls and coordinates the global competence centre for this industry.