Vertex Minerals Limited (ASX:VTX) has completed an updated Mineral Resource Estimate (MRE) for the Reward gold deposit at its wholly-owned Hill End gold project near Orange in the NSW Lachlan Fold belt.
The MRE was carried by independent consultants HGS Australia in accordance with 2012 JORC Code
The upgraded Mineral Resource for the Reward Gold Mine now totals 419,000t, with a 278kt Inferred Resource and a 141kt Indicated Resource, at a weighted average grade of 16.72g/t Au for 225,200oz (154,700oz Inferred and 70,500oz Indicated). This brings the global Mineral Resource estimate for the Hill End & Hargraves Gold Project to 485,000oz at 8.7g/t.
Whilst the total contained gold is similar to the previous estimate, improved interpretation of the deposit geology reflects the quality of ore that was previously processed at Hill End.
“We are very excited by this updated resource as it is the next step towards moving the Reward high-grade gold mine into production,” Executive Chairman, Roger Jackson, said.
“We now plan to undertake a scoping study of the Reward project. The Vertex team is actively working towards commissioning the Gravity gold plant, to firstly treat the nearby stockpiles, and then move onto the Reward high grade feed.
“We are also confident of significantly expanding these high-grade ounces at Reward when we commence mining, with a dedicated underground diamond drilling rig.”
For further information please visit: https://vertexminerals.com/
