Vertex Minerals (ASX:VTX) reports robust gold grades for samplings from Hawkins Hill - Kalkine Media

Highlights

• Vertex Minerals (ASX:VTX) today revealed the presence of gold via trench sampling of the Process Plant Stockpile, Tails Dam Road Stockpile & Consolidated Pad.
• The random nature of stockpiles can make grade estimation difficult.
• The ASX-listed company is looking forward for bulk sampling through the gravity processing plant at Hill End.
• Presently, the assessment of open pittable and underground gold mineralisation on VTX’ Mining Leases is a priority.

In the latest announcement, ASX-listed gold exploration company Vertex Minerals Limited (ASX:VTX) revealed that it has received robust gold grades for the samples collected from stockpiles immediately adjacent its gravity processing unit at Hill End, part of the Hawkins Hill mine.

The trench sampling of the Process Plant Stockpile, Tails Dam Road Stockpile & Consolidated Pad revealed each contained gold.

There have been evidences for domains of waste versus mineralisation that has resulted in higher grade zones:

• Process Plant Stockpile averages 1.26g/t Au across 24 samples with a max gold value of 5.50g/t Au
• Tails Dam Road Stockpile averages 2.10g/t Au across 15 samples with max gold value of 12.20g/t Au
• Consolidated Pad averages 0.89g/t Au across 20 samples with a max gold value of 6.74g/t Au

The findings

The Process Plant Stockpile (PPS) & Tails Dam Road Stockpile (TDRS) are located within 70m-90m of VTX’ Gold Gravity Plant while the Consolidated Pad is located less than 1km further up the valley.

For digging trenches, a backhoe was used across three stockpile locations - PPS, TDRS and Consolidated Pad. In total, samples weighing ~5kg were collected and sent for assay to ALS Orange.

According to VTX, the stockpile comprises material which is economically viable to process. It is planning to recommence the existing processing plant and process stockpiled material (over 100 tonnes) to find out the average grade of the stockpile. The company intends to process the stockpile further only when the grade of the initial bulk sample is sufficient to provide an economic benefit.

For the Consolidated Pad/laydown area as well, the company plans to process parcels via its gravity circuit to understand if it will be worthwhile to reclaim this pad.

What’s next?

A bulk sample through the Hill End Gravity Plant is planned, where previous recoveries exceeded 95%. Meanwhile, the plant refurbishment work is expected to be completed during May 2023.

The company has prioritised the assessment of open pittable and underground gold mineralisation on its Mining Leases, to provide follow-on feed for the plant. 

VTX shares were trading at AU$0.100 midday on 27 April 2023.

Note: It must be noted that only the surface of the stockpile was sampled and that the sample grades may not be representative of the entire stockpile which is up to 25m thick.