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Talisman mining gets closer

Talisman Mines Hauraki District Council QM Magazine Featured Image

New Talisman Mines has made progress towards opening the old Talisman Mine in the Karangahake Gorge now environmental group Protect Karangahake is off its back. BY PETER OWENS.

Protect Karangahake had called for a judicial review based on the fact a non-notified resource consent for sample gold mining had been issued to New Talisman Gold Mines by the Hauraki District Council. However the protest group learned it had insufficient evidence to win against the mining company and the council in the High Court at Auckland and dropped the case. New Talisman chief executive Matthew Hill called the case withdrawal a “milestone”.

New Talisman grew out of Heritage Gold in 2012. A pre-feasibility study in 2013 estimated a mine life of three to five years, based on reserves of 28,800 ounces of gold and 127,800 ounces of silver. Project progress last year included completing a funding initiative, lodgement of a traffic management plan, and ongoing talks with investor groups.

Directors say they are confident that development of the Talisman project still represents an attractive commercial opportunity and have put in place measures to continue development while conserving shareholder funds. Roading plans aside, the company has all other consents in place and is hopeful of a joint venture with Newcrest Mining to look at a deep extension of the old Talisman Mine.

The company lodged the traffic management plan for mining without any objections from the Hauraki District Council. “The traffic management plan which essentially maps out the movement of a mere four trucks a day from the mine site for treatment has been submitted with an accompanying independent survey showing the very low numbers of traffic and pedestrians in the area being used by the trucks,” it says.

Initiatives last year included securing the portal site because of continual vandalism and break-ins over the past year. In consultation with the Department of Conservation which owns the land, surveillance systems were installed around the portal pad area.

The sluggish international gold market has not deterred Aussie gold miner Newcrest Mining from undertaking large expansion operations in Nicaragua and Indonesia.

This is causing some interest in the New Zealand mining industry because Newcrest is engaged in a joint epithermal enterprise (with Brisbane-based Laneway Resources) in the Coromandel, seeking to mine gold and silver. Newcrest is also heavily engaged in joint venture proposals with New Talisman Gold Mines relating to Newcrest’s Rahu gold project which is near Talisman’s gold project at Karangahake.

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