New Talisman Gold Mines Ltd (ASX:NTL, NZX:NTL) is one of the best performing stocks in Australia and New Zealand recently, with the current price of A$0.023 making it a four-bagger in two months.
The company is focused on the wholly-owned Talisman Gold Mine located in New Zealand, where two resource upgrades have recently been released.
The third resource upgrade in the Talisman Deeps area is expected shortly.
READ: New Talisman Gold Mines releases another resource upgrade
A catalyst to the positive re-rating was Dubbo Deeps, being the first resource upgrade within the Talisman Deeps area of the mine.
The new JORC resource was doubled in size to 312,800 ounces at 21.98 g/t gold.
The grades established of up to 146.2 g/t gold for an average of 21.98 g/t gold place this deposit as one of the highest grade mineral resources in New Zealand and ranks in the top 5 worldwide.
The dramatic increase in Dubbo resources ultimately proved the company’s long-held belief that there is significant remaining ore at depth.
Matthew Hill, chief executive officer, commented: "We are very pleased with the work progress underground by Terra Firma and our NTL team.
"With the gold price in NZ at recent highs and investors recognizing the value of the company, the share price has reacted accordingly.
"We are the best performing junior on the NZX in the last 24 months and continue to go from strength to strength as we progress this world class project towards the extraction phase and beyond.
"The recent international articles have attracted interest from around the world on our project and we continue to see opportunities in projects where we can focus the unique skills in historical epithermal vein systems we have."
Key highlights for the project
- Project progress on schedule and within budget;
- Compressed air system installed and commissioned;
- Water reticulation system in place;
- Revision of mine plan targeting areas identified in the Talisman Deeps Project;
- Bonanza module nearing completion; and
- NZD Gold Price nears $1800 NZD/Oz.