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New Talisman Gold Mines Ltd.
Summary
| Project: | Talisman | |
|---|---|---|
| Deposit: | Talisman | |
| Location: | New Zealand | |
| Commodities: | Gold-Silver | |
| Date: | 6/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 26-6-2018: New Talisman Gold Mines Ltd. announces a Pre-Feasibility Study report for its Talisman deposit at the Talisman project. PFS results incl. pre-tax NPV of NZ $36.0M (9%), IRR of 118%, 6yr LOM, and updated ore reserve. New Talisman Gold Mines Limi | |
| Resources: | (Reserve, P+P): 44.956Kt @ 30.6g/t AuEq for 44.260Koz AuEq contained | |
| CP/QP: | [Overall Report]: Murray Stevens, Wayne Chowles (Internal) | |
| ABSTRACT: | New Talisman Gold Mines Limited is pleased to announce the results of the updated Pre-Feasibility Study on the Talisman Gold Project. The results of the study, as set out in this announcement, reaffirm that the establishment of a highly profitable, small-scale operation, focused on extraction of the higher confidence Measured and Indicated Resources accessible from 8 Level, should provide for an excellent return on investment. CEO Matthew Hill stated “The updated study demonstrates the robustness of the project economics, showing an IRR of 118% demonstrating the significant value to investors of this world class mine. With a scoping study on Talisman Deeps being finalised in the coming days on the high grade resources and activity at the mine ramping up we are starting to see the results of the teams hard efforts. ” In summary, revision of the 2013 Pre-Feasibility study in light of new information has demonstrated an increase in the Net Present Value, (NPV) from NZD15.4m to NZD35.9m at a 9% Discount Rate. The key drivers for this increase in value are discussed below The outcome of this study supports a 50% increase in the Ore Reserve attributable to the Talisman Mine. Ore Reserves, based on an average in-situ cut-off grade of 2.6 g/t, are 45,000 tonnes at 30.6 grams per tonne gold equivalent. Reserves are quoted at the point of delivery to the gold processing plant and are derived from and contained within, not additional to, the Measured and Indicated portions of the Mineral Resource. The study was reviewed by independent experts who found that the proposed mining plan is appropriate for the style of deposit at Talisman, and that determination of Ore Reserves has been attained through reasonable evaluation of mining costs and process recoveries. Chief Operating Officer Wayne Chowles stated ”the revised plan is the culmination of several years of refinement and presents a very solid technical case for development of this world class asset. The robust economics and low environmental impact of the project make it an absolute winner!” | |
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