Vertex Minerals (ASX:VTX) produced 121 ounces of gold in March 2026, marking a clear improvement from February’s production of 84 ounces.
The company sold 89 ounces of gold in March for $606,000 in gross revenue, increasing the ounces sold in the previous month by 4 ounces. Vertex held 44 ounces of gold on hand and available for sale at quarter-end.
Production increases reflect higher underground stoping ore volumes and improved grades, with most gold still derived from development and air-leg stope ore rather than long hole stoping activities.
Development work has taken longer than initially planned due to ground conditions in the declines and around stopes. The ground, which had been underwater for 14 years when dewatered, was found to be in poor condition and unsafe to work in.
Work is ongoing at the site, with the mining team stripping the backs, then bolting and meshing the declines, while also grouting cables into the rock in spots.
The company has purchased modified rails for both Epiroc Jumbos from Resemin in Peru to allow smaller drive sizes, reducing dilution by more than 20% for the same cut length, with a three-month delivery timeframe.
Vertex is in final negotiations to purchase a Muki long hole rig from Resemin, which will allow accurate blast hole drilling to support production activities using the new smaller drive sizes.
Air-leg activities targeting the high-grade Paxtons Reef on the 671 level continue, with the first rise completed on the north front before stoping begins. Scrapers are being installed on the south front of the level.
The second Aramine loader is undergoing final fit-out at Teleremotes in Orange, New South Wales, and is scheduled to arrive on site in late April, ready for long hole stoping in October. The second Bird underground truck is under construction to support these stoping activities.
Backfilling of the first flatback stope at the bottom of Decline 3 has been completed and the next lift is ready to commence.
Mill improvements have seen the TOMRA achieving better than 99.5% recovery of quartz. The company has implemented a system to retrieve missed quartz to ensure all material is treated in the mill.
Vertex Minerals is a gold explorer focused on discovery and development of the next generation of deposits in New South Wales.
Write to Maddison Elliott at Mining.com.au
Images: Vertex Minerals
