VTX believes Reward is well placed for a simple start-up, with the existing gravity processing plant located adjacent to the underground mine access point. Pic via Getty Images
Mining
Vertex has tapped consultants to undertake a pre-feasibility study on a “simple start-up” at the super high-grade, 225,200oz Reward mine development.
Vertex Minerals (ASX:VTX) owns 24km of contiguous tenements along the Hill End gold system in NSW’s famous Lachlan Fold Belt, just 60km across from Australia’s largest gold mine, Cadia.
Its main game is the historical Reward gold mine, home to an extremely high-grade resource of 419,000t grading 16.72 g/t – or 225,200oz of contained gold – with a higher confidence indicated resource of 141,000t at 15.54 g/t – or 70,500oz of contained gold.
Vertex believes Reward is well placed for a simple start-up, with the existing gravity processing plant located adjacent to the underground mine access point.
There’s also more where this came from, with the company recently releasing an exploration target of 211,000-320,000oz @ 12.5-19g/t at Fosters, an area ~400m south of Reward.
The company is moving ahead with PFS works after engaging Ground Control Engineering to undertake the PFS. Gekko Systems will review the metallurgical data, as well as designing a larger processing plant based on the existing 35tpa plant alongside Reward.
The Gekko study will provide details on the capital cost and operating cost of the expanded gold plant.
According to Vertex, the PFS was expected to be finalised by August but due to equipment availability, it will now carry out an upgrade of the existing plant, rather than complete a brand-new build.
Commissioning is also well under way at the Hill End plant.
VTX executive chairman Roger Jackson says the company has been modifying the plant over the last few quarters with the ultimate aim of having a high-recovering gravity plant capable of churning 120,000-150,000 tpa throughput, in line with planned underground production in 2024.
“During 2009, the plant improved its gold recovery from, 80% up to 95%,” Jackson said.
The plant was voted a finalist in the 2009 Australian Mining Prospects Awards – Mineral Processing Plant of the Year.
“During the year, 5,871oz gold were produced from 12,591t at an average grade of 15.9 g/t – which provides assurance around the head grade recoveries and consistency for the future Vertex underground operation,” Jackson added.
This article was developed in collaboration with Vertex Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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