Shares rally as Vertex on track for first gold sales next month: Reward plant commissioning underway

The Market Herald01-20

Vertex Minerals (ASX:VTX) is on track to sell first gold from its Reward Gold Mine in the Eastern Lachlan Fold Belt of central west New South Wales next month, with commissioning of its 100%-owned ...

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That stockpile will continue to be used for early production.\nVertex Executive Chair Roger Jackson is a geologist, who’s been in the mining industry for more than 30 years as a mine operator, services contractor and explorer.\n‘Everything’s going great here’ \n“Everything’s going great here,” Jackson said from site this morning.\n“We put dirt through yesterday – our first commissioning ore – and it went through fantastically! \n“Our team were more than happy, and it produced some gold at the end as well, so I our guess our first gold was produced yesterday, but the commissioning period will continue on for a week or so until we get it up to full steam. \n“We’ll be in the processing status following that.\n“This is a great milestone for Vertex being that we planned to be a gold miner – that’s what we want to do – we’ve got a great gold mine to feed this plant. \n“It’ll be one of the highest-grade gold mines in Australia when we start mining the Reward Gold Mine, which is just beside me here – about 100 metres away.\n“Getting this plant up and operational at a time when gold prices are at the highest levels we’ve seen (… well forever…) having all our permits and everything in place, this is great milestone to have a plant nearly ready to start processing our ore.”\nKey personnel onboarded\nThe company has onboarded key personnel including a General Manager, Commercial Manager, Environmental Officer, Gold Room Tech, Mine Engineer, Maintenance Manager, Training and Safety Co-ordinator and plant operators. It’s installing an Ore Sorter Module, with that due for completion early next month.\nGold refining agreement in place\nVertex has a gold refining agreement with ABC bullion in Sydney – only four hours’ drive from the site.\nLocated in the NSW central west region, the Reward Gold Mine is understood to be one of Australia’s highest grade gold deposits with a resource set at 419,000 tonnes, at 16.72 grams per tonne (g/t) gold, for 225,200 ounces of contained precious metal.\nThe mine is part of the company’s Hill End Gold Project which has 10 mining leases and three exploration licenses. It has 14km of continuous gold lode with the gold recovery rate to gravity exceeding 90%.\nHeading underground\nRoger Jackson said the underground Reward mine would be ready to feed the plant soon.\n“We’ve got the ore sorter being completed in the next two weeks; we’ll be starting to feed through the stockpiles; and we’ll be starting then to also develop the underground Reward and so that we’ll be able to provide feed in three to four months from the high-grade underground Reward Gold Mine.”\nVertex gold portfolio extends east & west\nVertex Minerals also has the Hargraves Gold Project near the town of Mudgee in NSW, which has a 2.3Mt resource at 2.38g/t gold for 177,000 ounces; it has the Pride of Elvire Gold Project north of Southern Cross in WA; and, it has the Taylors Rock Project which is 80km west-southwest of Norseman in WA’s southern goldfields, which claims gold, lithium and nickel potential.\nThe material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"productRelease","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2504446679"}