Vertex Minerals closes in on first ore from Reward gold mine

• VTX aiming to mine first gold at Reward underground mine early in Q3
• Commissioning activities underway, and trial ore through gravity plant completed
• Company targeting commercial status and cash flow

Special Report: Vertex Minerals is on track to deliver first gold ore from its Reward underground mine to the recently commissioned gravity gold plant early in Q3.

It’s a big deal for the company and would represent a move to more of a commercial operating status with solid cash flow.

Ramp-up activities and commissioning of the mine are progressing as planned, with the company announcing several milestones including:

• First underground miners onboarded under owner operator model.
• TD1 Jumbo drill rig (for development and production) commissioned and operating underground.
• Dewatering completed, airlines installed and operational and 11kva power installation underway.
• Pulse mining maintenance and supply chain software and INX safety software installed.
• Sand Stack water recycling facility operational and dust, noise and vibration environmental monitoring systems installed.

Vertex Minerals (ASX:VTX) has also trialled 90t of underground ore through the gravity plant and is currently revising the mine plan and schedule – which mine proposes mining two stope blocks consisting of 2,075t at 17.8g/t gold and 700t at 42.5 g/t gold.

The company is also planning to process gold in the surface stockpiles at the mine.

First gold third quarter

VTX is well on track to achieve its objective of developing into a significant Australian gold producer.

The company is now establishing an underground diamond drilling site (or drill cuddy) which will be used for resource development from inferred to indicated and for mine corridor exploration diamond drilling.

“It is very exciting to be involved in the opening of the next chapter of what is a legendary gold field,” VTX technical director and geologist Tully Richards said.

“I’m particularly pleased to see the enthusiasm of all those involved in wanting to make this chapter a success.”

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.