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Highlights:
Vertex Minerals identifies additional stope blocks at Reward Mine to enhance production.
The newly developed stopes will be used alongside existing production methods.
The additional stopes contain significant inferred resources of gold.
Vertex Minerals (ASX:VTX) operates within the gold exploration and development sector, focusing on the discovery and advancement of substantial gold deposits. The company’s operations are primarily located in New South Wales and Western Australia, where it explores for multi-million-ounce gold resources. Recent developments at its Reward Mine in New South Wales reflect the company’s ongoing efforts to improve its production capabilities.
Reward Mine Production Start-up
At the Reward Mine, Vertex Minerals has identified a fully developed two-stope block that will be integrated into the mine’s production start-up. These stopes are large, excavated spaces designed for ore extraction and are generally suitable for airleg mining, a method that complements jumbo mining operations. This addition is expected to increase production output during the initial stages of mining.
Details of the New Stope Blocks
The two newly identified stopes were previously developed by an earlier operator and are accessible through existing mine infrastructure. These stopes, which have already been developed, contain an inferred resource of over two thousand tonnes of ore, with a notable gold grade. One of the blocks holds a higher concentration of gold, which could enhance the overall value of the mine's output.
Focus on Underground Production
Vertex has been making significant progress with the underground mining operations at Reward. The company is currently in the process of re-establishing mine services, which includes dewatering the declines, a critical step to ensure safe and efficient operations. The dewatering process is moving forward according to the established schedule, further enabling the start of production at the mine.
Company's Future Plans for Reward Mine
The inclusion of the new stopes into the production plan aligns with Vertex’s broader strategy to optimise operations at the Reward Mine. With the new technical team in place, Vertex is focused on identifying methods to maximise the value extracted from the underground mining processes. The goal is to establish the Reward Mine as a key asset in the company's portfolio.
Vertex’s Commitment to Gold Exploration and Development
Vertex Minerals is committed to exploring and developing significant gold projects within Australia. The company aims to build a strong production base at Reward while continuing its exploration activities in New South Wales and Western Australia. The progress at Reward, particularly with the integration of the new stopes, demonstrates Vertex’s dedication to advancing its mining operations and enhancing its resource base.
