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Highlights
- Vertex Minerals (ASX:VTX) has completed inspection at the Hill End Underground Mine.
- The observations suggest workings are earmarked for mining studies and mining.
- VTX Director Tully Richards highlighted that the quality of the underground workings and ventilation is very good, with services in good condition.
Shares of the Australian based gold exploration company Vertex Minerals Limited (ASX:VTX) are trading in green on 17 May 2023 on the Australian Securities Exchange (ASX) at AU$0.14, more than 17% higher than the last closing price.
The jump in the price was seen post company’s ASX announcement which revealed that Vertex' representatives have completed the inspection of the Hill End Underground Mine and declared that the underground workings are earmarked for mining studies and mining.
The team that inspected the site included Electrical Contractor Jeff Williams, former underground miner David Thompson, as well as the company’s director Tully Richards.
It is also mentioned that Vertex Minerals anticipates beginning of the wet commissioning of the Gold Plant by June 2023.
Tully Richards inspecting one of numerous exposed veins and the UG transformer
About the project
Situated in the Eastern Lachlan Fold Belt of Central West NSW, the Hill End gold project includes ten mining leases and three Exploration Licences in the core of the Hill End Trough. It consists of 14km of continuous gold lode with gold recovery rate to gravity at +90%. The development activities performed in the year 2015 by Hill End Gold Ltd (HEG) resulted in a JORC 2012 resource estimate of 80,000 oz Au @ 1.7 g/t to 150m depth.
