Vertex Minerals

Reward Underground Gold Mine

Vertex Minerals’ Reward underground mine, located within the traditionally important Hill Finish gold district of New South Wales, represents a promising enterprise in high-grade gold extraction. Nicely-positioned for a easy start-up, Vertex plans to start manufacturing on the Reward mine in January 2025. The present gravity processing plant is positioned adjoining to the underground mine entry level. Mine entry level extends into the useful resource, so little improvement is required.

The Reward gold mine has an indicated useful resource of 141,000 tonnes at 15.5 g/t gold for 71,000 oz contained gold, and 278,000 tonnes at 17.3 g/t gold for 155,000 oz contained gold within the inferred class. It’s a strong asset, with important potential for useful resource development and lengthy life effectively past the mine plan.

Vertex Minerals has initiated a strategic method to bringing the Reward mine into manufacturing. According to this, the corporate is presently refurbishing the gravity processing plant positioned close to the underground mine entry level. This strategic location facilitates an easy start-up course of, decreasing operational prices and time to manufacturing. Following the profitable refurbishment of processing services, Vertex plans to provoke underground mining operations.

The pre-feasibility examine (PFS) performed for the Reward mine presents encouraging monetary prospects, together with a projected pre-tax money of $41 million over the lifetime of mine at an assumed gold value of $3,000 per ounce, with a six-month payback. The mine targets a mean month-to-month manufacturing of two,169 oz over 23 months with 92 % gold restoration. These projections underscore the potential financial viability of the challenge.

Sustainable Manufacturing

On the coronary heart of Vertex Minerals’ plan is the combination of a high-performance Gekko gravity processing plant. This superior facility will likely be strategically positioned adjoining to the underground mine entry level, facilitating a seamless ore processing workflow.

Gravity know-how in mining leverages the pure power of gravity to separate beneficial minerals from waste materials. This technique is especially efficient for gold extraction, as gold particles are considerably denser than most different supplies present in ore. The method entails utilizing specialised gear that exploits these density variations to isolate gold particles with out relying closely on chemical processes.

Vertex Minerals anticipates a number of constructive outcomes from the implementation of gravity know-how on the Reward mine, together with accelerated manufacturing timeline; elevated throughput with a capability of 120,000 tonnes each year, a major improve from the earlier 30,000 tonnes; enhanced operational effectivity with sooner processing occasions and decrease operational prices; improved money circulate; and extra importantly, sustainable mining practices, aligning with rising business traits in direction of sustainability.

Exploration Plans

Past the Reward mine operation, Vertex Minerals plans to conduct additional exploration of the Hill Finish challenge to extend the scale and grade of the useful resource. The challenge consists of a 34 km potential strike that was the supply of the biggest gold specimen ever discovered globally. Regardless of its nice potential for brand new discovery, Hill Finish has but to bear trendy exploration, and Vertex Minerals is planning a multi-element and alteration mapping program on the property to higher map out the zones the place high-grade mineralization exists. A full geological overview and an up to date geological and structural mannequin will underpin future exploration plans.

Administration Workforce

Roger Jackson – Government Chair

Roger Jackson has been actively concerned within the mining business for 30+ years as a mine operator, companies contractor and explorer. He’s a geologist with robust data of gold exploration and mining. He has developed a number of mining and ore processing operations in Australia and overseas. Jackson has a science diploma with a significant in geology and geophysics, and holds a diploma in monetary administration, diploma in schooling. He’s a fellow of the Geological Society of London, fellow of the Australian Institute of Geoscientists and a fellow of the Australasian Institute of Mining and Metallurgists.

Declan Franzmann – Non-executive Director

Declan Franzman is a mining engineer with over 30 years of expertise from discovery, by way of building, operations and mine closure. His experience covers open pit and underground gold mining throughout Australia, Asia, Africa and South America. Franzmann is a fellow of the AusIMM, holds statutory mine administration {qualifications} for WA, QLD and NSW and has been a director of public firms for 15 years.

Tully Richards – Technical Director

Tully Richards is an skilled gold geologist primarily based in Orange, NSW. He has an exquisite depth and breadth of expertise in exploration within the Lachlan Fold district. A graduate in geology from Sydney College, Richards has labored as a geologist in working mines however has discovered his ardour exploring the Lachlan Fold Belt for gold.

Alex Neuling – Firm Secretary

Alex Neuling holds the positions of director, chartered accountant, and secretary at Vertex Minerals. Along with his chartered accountant {qualifications}, Neuling brings a robust monetary acumen to the corporate’s board, backed by over 15 years {of professional} expertise in company and monetary roles. For the previous decade, he has served in pivotal positions reminiscent of firm secretary, CFO and director for numerous ASX-listed firms. His experience covers a various vary of sectors, together with oil and gasoline, mineral exploration, biotech and mining companies.