Geoff Hill Resignation from Coromandel Gold
New Talisman Gold Mines Limited announced today that Mr Geoffrey Hill has resigned from the board of 100% owned subsidiary Coromandel Gold Limited (CGL) effective 30th June 2014. Geoff’s resignation from CGL severs his last governance link with NTL and NTL has expressed to Geoff its appreciation of his long service to the company.
Geoff Hill chaired the board of NTL for many years until March 2012. In that capacity his long experience on the boards of listed Australian industrial, financial and mining companies served the company well. Under his careful stewardship the company successfully built a portfolio of highly prospective exploration permits and raised the funds to drill and evaluate them. Geoff’s background in the Australian capital markets sector was invaluable in this latter regard.
NTL current Chairman, Murray McKee, acknowledged that Geoff had an enduring influence on the company and said “the strong position the company is in today with one permit being developed for production in the near term is a direct outcome of the strategic direction established during his period at the helm”.
Geoff remains a significant shareholder in NTL and will continue to follow closely the fortunes of the company.
Matthew Hill Appointment to Coromandel Gold Board
NTL also announced today that Mr Matthew Hill has been appointed to the board of Coromandel Gold. Matt is currently executive director of NTL.
Coromandel Gold Limited is the exploration arm of NTL. To ensure NTL’s primary focus remains on development of the Talisman Mine which is expected to produce the first ore late in the Q4 2014, the company manages its exploration operations through a separate vehicle. CGL is currently reviewing a number of funding structures to provide it with the necessary capabilities to fund its exploration endeavours. An update on these initiatives and further additions to the board will be provided over the coming months. The board of CGL is currently considering senior management positions and further appointments are expected in the near future.
Coromandel Gold exploration portfolio
EL 40736 Golden Valley
The Golden Valley Exploration Permit covers 2524 ha of highly prospective land to the east and north east of the currently producing Martha and Favona mines and the Correnso deposit now in development. Exploration by NTL targeted gold mineralisation beneath post mineral cover rocks and successfully identified several target areas initially from detailed aeromagnetic geophysical surveying and later ground based follow up.
EL 53706 Parakao
Northland Minerals Ltd, a wholly owned subsidiary of NTL holds an 1,188 hectare Exploration Permit in Northland, New Zealand.
EL 40117 Rahu
NTL is currently modelling the geology and gold grade distribution of the known mineralisation at Rahu as defined by drilling, geological mapping and surface sampling to determine which parts of the mineralisation outlined to date could be classified into a resource category under the JORC code 2012.