Native Mineral Resources (ASX:NMR) has poured its maiden gold bar from the Blackjack Project in Queensland, yielding 70 ounces at 91.64% recovery.
Confirmation of the commissioning of Native Mineral’s 340,000 tonnes per year carbon-in-leach processing facility marks the company’s transition from gold developer to producer, with the first revenue generated.
As of 9am AEST, gold’s spot price sat at US$3,279.7 ($5,089.92) per ounce, as reported by the Trading Economics.
Native Mineral, which has a market capitalisation of $137 million, says the next gold pour is planned for 8 August 2025.
CEO Blake Cannavo says the production of first gold at Blackjack is a transformational milestone.
“This validates our investment in plant refurbishment and metallurgical design, and confirms our operational readiness,” Cannavo says.
“Importantly, this event marks our first revenue, confirming our transition to producer status. We now move confidently toward ramp-up, optimisation, and sustained gold production from the Charters Towers region.”
Native Mineral is finalising Blackjack’s mine plan, with detailed scheduling underway with support from external mine engineering consultants. In conjunction, metallurgical accounting is ongoing to confirm plant performance.
The Blackjack Project sits within the broader Charters Towers Gold Project in Queensland which comprises 17 granted mining leases, one mineral development licence, and six exploration permits.
Native Mineral Resources is an Australian gold and base metals company with a portfolio of advanced projects in Queensland.
Write to Aaliyah Rogan at Mining.com.au
Images: Native Mineral Resources
