Vertex Minerals (ASX:VTX) is transitioning to underground mining at the Reward Gold Mine in New South Wales, with multiple mining fronts being developed to have around 400m of strike to achieve continuous feed to the plant.
The company is employing multiple mining methods to diversify risk and maximise headgrade, including a 1670 shrink stope – which is in production – and a 1438 longhole stope which has begun drilling.
A shrink stope is a vertical, overhand mining method, which focuses on low tonnage but high-grade ore. Longhole stoping is a mechanised and highly productive mining method that minimises development requirements.
To support longhole stoping, Vertex has taken delivery of an Aramine 350D loader which is being fitted with RCT’s remote controlled system, allowing the loader to be remotely piloted for bogging out longhole stopes.
Another mining front includes a 1720 cut and fill stope which uses jumbo production to mine high-grade mica and mica 2 veins. New ground support is being installed and stoping is expected to begin in October 2025.
Vertex, which has a market capitalisation of $96.42 million, says the fourth mining front is capital development on the Amalgamated Vein, which is designed to duplicate and parallel the existing access drive to the Reward Shaft.
The company says this will allow the mining of stopes along the existing access drive.
As part of this strategy, exploration will be expedited and new discoveries will be made through the geological sampling of the developing. Vertex expects that sections of this development will be economic to process and add to gold production.
Further development headings will begin as mine scheduling allows.
The Reward Gold Mine is host to the Hill End, Red Hill, and Hargraves projects in the central west of New South Wales.
Vertex Minerals is a gold explorer focused on discovering, developing, and producing projects within the New South Wales and Western Australian goldfields.
This news comes as gold’s spot price has touched to US$3,760 ($5,682) per ounce mark. Over the past month, gold’s price has risen 11.78% and is up 41.68% compared to the same time last year, according to Trading Economics.
Write to Aaliyah Rogan at Mining.com.au
Images: Vertex Minerals
