Vertex Minerals (ASX:VTX) has sold a ‘record’ 113 ounces of gold in June via the Reward gold mine, generating $670,000 in gross revenue and marking a ‘steady’ ramp up towards October 2026 production.
The company produced 84.8 ounces during the month while progressing multiple underground fronts across three decline areas.
Mill improvements also continue, with recovery reaching 81% in June despite processing lower-grade development material.
Vertex Minerals says the focus remains on prompt rehabilitation of the declines to reach the lower levels, allowing long hole stope mining to commence from the bottom up.
Decline two has reached full rehabilitation and full-face development for block one will commence, including a standalone capital decline targeting the 600 level.
The company has also purchased modified rails from Resemin, Peru, to allow smaller drive sizes, reducing dilution by more than 20%.
Construction of the Muki long hole rig from Resemin is likewise confirmed for mid-September, before shipping, to ensure accurate drilling. Vertex Minerals notes stoping will target widths of approximately 1.2m.
Meanwhile, the second lift of the decline three mining front has been completed, including rehabilitation and backfilling. The area is now being prepared for cable bolting ahead of long hole open stoping.
Additionally, a second Bird underground truck is currently being shipped from South Africa, while resource modelling works and reserve estimations remain ongoing.
The company notes full mining on both airleg production stope fronts commenced this month (July).
Vertex also confirms that Executive Chairman Bruce McInnes joined the board in June, with Roger Jackson transitioning to executive director, as reported.
An Australian gold explorer and developer, Vertex Minerals operates the 100%-owned unhedged Reward gold mine in Hill End, New South Wales, which has recently started processing ore through an on-site Gekko gravity gold plant.
The mineral resource estimate for Reward stands at 419,000 tonnes at 16.72 grams per tonne gold for 225,200 ounces.
Write to Paula Fabe at Mining.com.au
Images: Vertex Minerals
