Vertex Minerals’ (ASX:VTX) Hargraves exploration licence renewed

Highlights

• Vertex Minerals Limited (ASX:VTX) has renewed an exploration licence for two years.
• The exploration licence extends over VTX’s Hargraves gold resource.
• The current mineral resource of Hargraves assets stands at 2.3Mt at 2.38g/t Au for 177koz Au. 

In the latest development, Australian gold explorer Vertex Minerals Limited (ASX:VTX) has announced that it has renewed the exploration licence 6996.

Vertex Minerals’ projects are in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. The Company also has projects located in a well-known WA gold precinct and the company focuses on advancing the commercial production of gold from its projects.

VTX renews Exploration Licence 6996

The Company has renewed the Exploration Licence 6996 for two years. This extends over the Company’s Hargraves gold resource located 25 km north of Hill End.

As per VTX’s application, the Department of Regional NSW has proposed to renew EL 6996 for the term of 2 years for the full area of 6 units.

Source: VTX Announcement 13/07/2022

VTX’s plan to advance Hargraves Project

VTX’s Hargraves Resource forms a potential satellite feed to the Hill End Gravity Gold plant – Hill End Goldfield. Moreover, Hargraves has a current mineral resource of 2.3Mt at 2.38g/t Au for 177koz Au in accordance with JORC 2012 Code.

VTX had recently kicked off an initial 1,500m Reverse Circulation (RC) drill program at the Red Hill Gold Project in Hill End, NSW.

Earlier, VTX had shared its plans to execute ground exploration/resource development and mining studies with a special focus on the reassessment of the Hargraves Pre-Feasibility Study (PFS). Besides this, VTX also shared its intention to conduct ground exploration and resource development at the Hargraves Project.

VTX will collect exploration data and utilise the same to identify and rank the development priorities for the Company and build on earlier drilling at the Hargraves and Hill End Projects to develop updated mineral resource models.

Previously, the Company shared its plans to prioritise the development of this project by updating PFS, permitting and further drilling to expand resources. VTX looks to continuously engage in the assessment of strategic corporate opportunities that may have the potential to create further value for all shareholders.

VTX stock was noted at AU$0.135, up by 12.5% on 25 July 2022.