Half Year Report and Accounts
Perth, Mar 14, 2025 AEST (ABN Newswire) - Vertex Minerals Limited (
ASX:VTX) (VTXXF:OTCMKTS) is pleased with its achievements in the half-year to 31 December 2024 in pursuit of Vertex's stated strategy to become a significant Australian gold producer.
Completion of the Gravity Gold Plant
In December 2024, Vertex confirmed that the processing facility rebuild, refurbishment and installation of the plant had progressed safely, efficiently and to plan, enabling the power-up of the facility with the focus now turning to dry and wet commissioning of the respective operating circuits.
This included the installation of power generation units and plant components, with all electrical works completed along with completion of the dry stack tailing storage facility and tailings pipe work installation. With all works completed, Vertex initiated the start-up of the plant for mechanical testing, with wet commissioning and ore feed commissioning to follow in the new calendar year.
Construction of the Gravity Gold Plant required disciplined execution of a targeted rebuild and refurbishment program which included the procurement and installation of key equipment. As the plant moved toward commissioning, Vertex was also pleased to attract strong support from a network of large investors who believed in the Company's value-add strategy. With commissioning at the plant successfully underway post period end, Vertex is positioned with a unique opportunity to unlock additional value for our shareholders in what remains a positive gold price environment.
Mine Operations
At the date of this report, Vertex has processed the first ore with the newly installed Gravity Gold plant. The plant processed ore to a gold concentrate with visible gold evident in concentrate.
In early February 2025, Vertex completed the installation of a laser ore sorter and commissioning of the ore sorter/pre concentrator is underway. The plant commissioning process is utilising the Company's stockpiled gold ore which is located adjacent to the plant.
This material will be the focus of initial production.
Vertex has appointed Chris Hamilton as General Manager, Operations for the Hill End Reward Gold Mine. Several key personnel and operators have been recruited to operate the Reward plant and Mine to coincide with the commencement of production. Refinement of operating systems is ongoing to transition Hill End operations to be 'business ready' ahead of plant commissioning Acquisition of Boart Longyear LM90 underground drill rig During the period, Vertex acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource.
Acquisition of the LM90 followed an extensive review of the mineralisation potential below the Reward resource, which has only been drilled up to 50m below the Amalgamated Adit.
This area targeted is referred to as the 'Reward mid depths' as it is located just 80m to ~200m below the Amalgamated Adit.
The LM90 has several attributes which will provide flexibility for on-site drilling operations, where Vertex will be able to maintain drill sites with the Company's own underground mining crew. The deployment of the LM90 also means Vertex does not have to pay stand-down time or mobilisation fees, and its drillers can be assigned to other jobs.
The Vertex team are planning diamond drill programs below the current JORC-2012 Reward Resource with the aim of expanding upon the existing resource, as well as the Fosters Exploration Target and the South Star prospect area.
*To view the full Half Year Report, please visit:
https://abnnewswire.net/lnk/2K179YBT
About Vertex Minerals Limited
Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.
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