NTL Acquires Vanuatu Project

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New Talisman Gold Mines
Limited

Responsible,
Environmentally
Sustainable Mining

ASX/NZX Code NTL
______________________

Commodity Exposure
GOLD and SILVER

Board

Charbel Nader Chairman/Independent Director
Matthew Hill Chief Executive/ Managing Director
Murray Stevens Non Executive Director
Jane Bell Company Secretary



Capital Structure
Ordinary Shares at 10/12/2020 2,792m

Share Price
Share Price at 10/12/2020 (NZX) 0.6cps
Share Price at 10/12/2020 (ASX) 0.6cps



New Talisman Gold Mines Limited
ACN
Address 547 Parnell Rd, Parnell,
Auckland
Phone +64 27 5557737
Website
www.newtalisman.co.nz
Email info@newtalisman.co.nz

Market Announcement
For Immediate Release
NEW TALISMAN GOLD MINES LIMITED SIGNS BINDING TERM SHEET TO
ACQUIRE STRATEGIC HIGHLY PROSPECTIVE EPITHERMAL GOLD AND
PORPHYRY COPPER-GOLD PROJECTS IN VANUATU
HIGHLIGHTS
• Coromandel Gold Limited to be listed on the NZX and or ASX
• Strategic holding in underexplored and highly prospective nation of
Vanuatu.
• Potential for large epithermal gold and porphyry copper deposits on
Pacific Rim
• Analogous setting to the Hauraki Goldfield, NZ (14+ million ounces
gold)
• Near drill ready prospects
• Extensive high-quality data sets
• Supportive Government and landowner agreements in place.
New Talisman Gold Mines Limited, (NTL) is pleased to announce that it has
signed a binding term sheet to acquire the Vanuatu assets of Canterbury
Resources Limited ASX:CBY. The strategic acquisition is the first step in the
restructuring of the NTL group into exploration and development businesses
which will be detailed further in the half year report to be released this week.

The assets include the granted prospecting licence PL 1851 known as Santo 1,
comprising 9,269 hectares and a prospecting licence application covering the
Navaka or Ora prospect, both on the island of Espiritu Santo.
Satellite image of Espiritu Santo, Vanuatu showing prospects
NTL Acquires Vanuatu Assets

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This acquisition represents a rare opportunity to acquire a strategic holding in a highly prospective
part of the Pacific Rim of Fire that extends from Japan through the Philippines, PNG, Solomons,
Vanuatu, Fiji to New Zealand.
Vanuatu comprises a 700km long chain of approximately 80 volcanic islands located above the
convergence zone of the Pacific and Australian Plates. This zone which extends from New Zealand to
Japan hosts some of the world’s largest copper and gold deposits, as epithermal or porphyry styles of
mineralisation. Active mines in the region include OK Tedi (17Moz), Porgera (7 Moz), Lihir (30Moz)
and Vatukoula (11Moz), Waihi (10 Moz), Talisman (3 Moz) plus several world class deposits slated for
development such as Wafi Golpu, PNG, (28Moz), and Namosi, Fiji, (5.5Moz). The nearest significant
deposits to Vanuatu are the Emperor (Vatukoula) gold mine to the east in Fiji and Gold Ridge gold
deposit to the north in the Solomon Islands.

Tectonic map showing major gold/copper deposits near Vanuatu on the Pacific Rim. (source Gold
Rim Resources Ltd).
By world standards Vanuatu is extremely underexplored. Modern exploration for gold started in the
mid 1980’s and with sporadic bursts mainly in the 1990’s and briefly in the early 2000’s.
The Santo 1 prospecting license area consists of several prospects each at differing stages of
exploration. The most advanced is Tafuse North which covers a 3km by 4km area of epithermal style
mineralisation consisting of quartz veins, quartz vein stockworks, and hydrothermal breccias. Within
this is a well-defined 800m by 250m alteration envelope.
It has lain dormant since 1986. Canterbury Resources is the first company to explore since 1986 where
it has ground truthed the historic exploration results in 2019.
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This work included taking petrological samples that showed typical low sulfidation epithermal
mineralisation including visible gold and electrum as inclusions in quartz veining.
The Tafuse North prospect has well defined drill targets and landowner agreements in place.
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https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02299344-
2A1259003?access_token=83ff96335c2d45a094df02a206a39ff4

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There are several other prospects within the permit of similar dimensions and indications of gold
mineralisation that, with well-directed exploration programmes, be brought to drill status rapidly.
The Ora prospecting license application to the west of Tafuse was recognised by Placer Pacific in 1993
as having potential for structurally controlled intrusive related high grade copper gold mineralisation
in porphyry intrusives and related skarns.
Hauraki Goldfield Similarities
The gold and copper mineralisation known in Vanuatu has been compared in the scientific literature
to the Hauraki Goldfield in New Zealand, where gold production to date exceeds 14 million ounces of
gold. By comparison there has been no recorded gold production from Vanuatu where there is a
similar geological setting but only limited exploration. This compares to the Haruaki Goldfield where
there has been over 160 years of production and exploration with recent new discoveries at WKP by
Oceana Gold and redevelopment of the Talisman Mine by NTL.
The table below shows this comparison and was first published in 2017 at the Gold17@Rotorua
Conference.
Comparison of deposit features of the Hauraki Goldfield with western islands of Vanuatu
Hauraki Goldfield Santo-Malekula Islands
Terrain dimensions 200km by 30km 200km by 30km
Regional structural setting Above convergence zone of
Australia-Pacific plate
boundary
Above convergence zone of
Australia-Pacific plate
boundary
Local tectonic setting NW trending boundary faults
NE trending secondary
structures control
mineralisation
NW trending boundary faults
NE trending secondary
structures control
mineralisation
Host rocks Greywacke, andesite, dacite Andesitic lavas and
volcanoclastics
Age Miocene to Pliocene Miocene to Pliocene
Prospect types Porphyry Cu-Au-Mo
Epithermal Au-Ag
(adularia-
sericite)
Porphyry Cu-Au
Epithermal Au-Ag
(adularia-
sericite)
Porphyry characteristics Dacite porphyry + intrusion
breccias
Potassic, propylitic, phyllic
alteration with lithocap
Disseminated chalcopyrite +
molybdenum
Partially drilled
Felsic intrusives

Alteration not specified, skarns

Chalcopyrite

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Not drilled
Epithermal characteristics Quartz ± calcite ± adularia ±
illite type
Productive veins in andesite
host
Vein dimensions 300-1300m
strike, 170-700+m vertical, 1-
5m wide
Zoned Au-Ag→Cu-Pb-Zn with
depth
Multi-stage quartz veins –
massive, banded (colloform),
breccia.
Bonanza style ore shoots
Alteration halos ~5-120km²
Propylitic – quartz, chlorite,
illite, pyrite ± adularia ± albite
± calcite
Associated with hydrothermal
breccia, sinter
Quartz ± adularia ± illite ±
amethyst

Best developed in andesite
lavas
<200m strike

Au-basemetal association

Banded (colloform), amethyst

None
1-2km²
Propylitic

Associated with hydrothermal
breccia, no sinter reported

Number of porphyry prospects 4 5 known
Number of epithermal
prospects
50 4 known
Production 14.1Moz Au No production
Note: the lack of detail in many Vanuatu prospects is mainly due to poor documentation
__________________________________________________________________________________________
The information in this report that relates to exploration results, exploration targets and mineral resources is based on
information compiled by or supervised by Mr Murray Stevens. Mr Stevens is a consulting geologist and director of New
Talisman Gold Mines Ltd, who is a corporate member of the AusIMM. Mr Stevens has sufficient experience which is relevant
to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a
Competent Person as defined in the 2004 and 2012 Editions of the “Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves”. Mr Stevens consents to the inclusion in this report of the matters based on his
information in the form and context in which they appear.
About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & ASX: NTL) with over 2900 shareholders who are mainly from Australia and New
Zealand and has been listed since 1986. 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. The company
has commenced prospecting and upgrading activities at the mine and advance the exploration project to increase its
considerable global exploration target into JORC 2012 resources.
Its gold properties near Paeroa in the Hauraki District of New Zealand are a granted mining permit, including one of New
Zealand’s highest-grade underground gold mines.