The funds raised will be applied to the Talisman mine as it progresses the bulk sampling project which is estimated to produce approx. 8000 ounces AUeq over the 24 month project plan.
Matthew Hill stated "This is a great result and demonstrates the clear support from shareholders and the wider community as we progress towards production from the Talisman mine. With the consent for the pilot plant recently granted, the metallurgical test work is underway which will determine the optimal recovery rates and plant design, while at the same time producing gold concentrate and bullion from small high grade batches of ore."
About New Talisman Gold Mines Limited
New Talisman Gold Mines Limited (NZE:NTL) (ASX:NTL) is a dual listed with over 2,300 shareholders who are mainly from Australia and New Zealand. It is a leading New Zealand minerals development and exploration company with a mining permit encompassing the Talisman mine one of New Zealand's historically most productive gold mines. Its gold properties near Paeroa in the Hauraki District of New Zealand are a granted mining permit, including a JORC compliant mineral resource within the original Talisman underground mine, and a Heads of agreement with Newcrest on an adjacent exploration permit along strike from the mine. The company is now advancing its plans to develop the mine, and advance the exploration project.
More about New Talisman Gold at www.newtalisman.co.nz