NTL - New Talisman Mine - New board & Directors

[Kees]

Is NTL going to set new heights today ? certainly looks like it.

[Landyman]

Kees - new heights for today - 1.6 done, 1.8 next.

That said, Im old school and still remember the day (and cringe) when I bought on the market at 6.2c. That was my last foray into day-trading - learnt my lesson!

[Kees]

Kees - new heights for today - 1.6 done, 1.8 next.

That said, Im old school and still remember the day (and cringe) when I bought on the market at 6.2c. That was my last foray into day-trading - learnt my lesson!

Yes been sitting on these for quite a while to, good to see it moving the right way for a change might even make a $ if it keeps on going.

[Blue Horseshoe]

Kees - new heights for today - 1.6 done, 1.8 next.

That said, Im old school and still remember the day (and cringe) when I bought on the market at 6.2c. That was my last foray into day-trading - learnt my lesson!

0.18 ticked off, next?

[jonu]

0.18 ticked off, next?

Stumpy opens the bar, that's what's next! 2 on the way. I like a drop of water in my Glenfiddich (sacrilege to some I know)

[bullish]

Stumpy opens the bar, that's what's next! 2 on the way. I like a drop of water in my Glenfiddich (sacrilege to some I know)

Rahu awarded to Newcrest NTL JV partner.........here we go!!! see inside resources.....

[Landyman]

If only NTL had some good "mystery vein" data to release, then we would really be headed to the bar!

[Kees]

Stumpy opens the bar, that's what's next! 2 on the way. I like a drop of water in my Glenfiddich (sacrilege to some I know)

No water for me just ice thanks

[bullish]

Newcrest awarded Rahu NAA

Matt Freeman - Thu, 05 May 2016
Map showing the Rahu NAA area in red


Australian gold mining company Newcrest Mining has been awarded a minerals exploration permit (MEP) over the Rahu gold prospect immediately north of the Karangahake Gorge near Waihi.
The move is the first acreage position Newcrest has taken out as the operator, having previously farmed in to ASX-listed Laneway Resources’ neighbouring permits covering the South Coromandel gold project.
The Rahu permit area is entirely surrounded by and abuts Laneway’s permits MEP 53469 (Waitekauri) and MEP 54216 (Owharoa). It also abuts New Talisman Gold Mines’ minerals mining permit for the Talisman gold mine project MMP 51326.
Late last month Newcrest and Laneway started drilling a 3000-metre, multi-hole programme at the South Coromandel gold project using Alton Drilling. The main target areas lie west-northwest and nearby the Waihi gold mine system, owned by OceanaGold.
A Newcrest spokesperson says the company is pleased to have been awarded the Rahu exploration permit. “We will now progress our exploration plans in line with the work programme provided to the Government. A review of existing geological data will commence immediately, followed by fieldwork and eventually drilling should appropriate targets be identified.”
Underlying gold mineralisation from Talisman to Golden Cross ‘linked’
Newcrest and Laneway identified five priority drill targets for the South Coromandel project following a soil sampling, geochemical analysis and an induced polarisation programme. The targets lie near the old Golden Cross gold mine.
Reprocessing historic information and merging this with newly acquired data confirmed a “corridor of mineralisation” in the 15 kilometre stretch from the old Golden Cross mine site to the historic Karangahake workings at Talisman.
How the Newcrest/Laneway JV works
Under the South Coromandel joint venture, Newcrest can earn an 80 per cent stake in the project by funding the first two stages of minimum work programmes. Laneway maintains its role as manager of the project during the earn-in period and earns a management fee. Once the two minimum work programmes are completed over either of the project’s permits Newcrest will have earned 80 per cent of that permit and will be named on the title of the permits.
New Talisman remains in discussions with Newcrest over Rahu
In 2014 New Talisman applied for a 390-hectare land extension for its Talisman mining permit (MMP 51326) over the Rahu acreage. This was declined by NZP&M in January this year. The company has a non-binding heads of agreement in place with Newcrest to jointly explore the Rahu gold prospect which it struck during the land extension application process.
Newcrest says that in line with the spirit of the original non-binding heads of agreement, it is in discussions with New Talisman “about how we can work together in relation to the Rahu exploration permit.”
New Talisman is advancing the Talisman gold project after receiving further regulatory approvals from the Hauraki District Council, and has embarked on a pre-feasibility study. The company needs to raise fresh capital for the project and is presently in discussions with Amer International, a Chinese metals company.
The company has stated that, based on analysis of drilling and historical data, Rahu and Talisman share the same vein of high grade gold. It had previously declared an indicated resource of 2.39 million tonnes at 0.54 grams per tonne of gold for 41,591 ounces of gold at Talisman.
NAA process used in areas of known prospectivity
The Newly Available Acreage (“NAA”) process is one of four methods that the Government can use for allocating minerals permits and is generally chosen for areas that become available when a permit lapses or is revoked and where it is determined there will be a level of competition for the acreage given known mineralisation and prospectivity.
Other NAAs in play at present include the Sparrowhawk, and Rise and Shine gold prospects in Otago.
Majors now operating in New Zealand
Newcrest Mining ranks in the top 10 gold miners in the world based on annual production of 2.4 million ounces (Moz) and reserves of 69 Moz.
The impressive company owns the big Cadia and Telfer gold mines in Australia and Lihir in Papua New Guinea, amongst a portfolio of producing and exploration assets that also includes Indonesia, Cote d’Ivoire, Fiji, Nicaragua and now New Zealand. The company was started by Newmont in 1966.
In further news today Newcrest completed additional hedging of a portion of Telfer’s expected FY18 and FY19 gold sales, with a further 200,000 ounces of gold sales being hedged at an average Australian dollar gold price of $1,773 per ounce. A number of gold producers are using the high gold price to hedge production now.
Gold shining in New Zealand
Gold exploration and development is picking up in New Zealand and around the world off the back of a strong gold price (in US and New Zealand dollars). OceanaGold is exploring at pace within the Waihi gold mine system and has announced it intends to drill the WKP prospect further to the north during this quarter.
The Neavesville gold project was drilled last year and in Northland ASX-listed gold mining company Evolution Mining is advancing the Puhipuhi gold project and extending its acreage position.
Alluvial gold mining on the West Coast is also enjoying solid activity levels.

[Landyman]

Did we ever find out why the Rahu extension was rejected by NZP&M?