Polymetals Resources (ASX:POL) has begun commercial production at the Endeavor silver-zinc mine in the Cobar region of New South Wales.
The company says crushed ore from underground is being routinely hoisted to surface, while access to the upper level “high-grade” silver ore is proceeding. The first ore extraction is expected to be during August 2025.
Polymetals, which has a market capitalisation of $214.2 million, says operations will continue to ramp up to meet the planned output during the second half of this year.
Executive Chairman Dave Sproule says bringing the Endeavor mine back to life over the past nine months has been challenging and rewarding.
“First cashflow will be received during June as pre-payment on our zinc concentrate stocks with first transport scheduled for early July,” Sproule says.
“Optimisation of the grinding and flotation circuits is continuing to ensure consistent production of high-grade zinc and silver-lead concentrate.”
The Endeavor Mine is an underground asset which Polymetals’ considers to be the second largest mine, behind the CSA Copper Mine, in Australia’s richest polymetallic region — the Cobar Basin.
Polymetals Resources is a mining company focused on becoming Australia’s next silver and zinc producer.
Write to Aaliyah Rogan at Mining.com.au
Images: Polymetals Resources
