Vertex Minerals Limited Reward Gold Mine and Company Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce a further update on the Reward Gold mine start up.

HIGHLIGHTS

- All major components are now installed and fitted at the Reward Gold Mine Gravity Plant.

- Electrical fit out is well underway.

- Piping and water reticulation is ongoing.

- Tails lines are being laid to the dry sand stack location.

- Plant power up is planned for mid-December.

- General Manager and other key personnel have commenced employment.

- Ore Sorter structure is under construction and will be installed in January

- The plant will be commissioned on stockpiles located at the plant prior to the Ore Sorter installation.

- Road infrastructure upgraded.

- Portal entry and ore handling area refurbished and expanded.

- Vertex on track for January commissioning of the plant.

Mobilisation of the Gravity Plant from Ballart to site commenced earlier this month (as announced 13 November 2024), with all major components now onsite, installed and fitted at the Gravity Plant. Fitout of ancillary services (including electrical and water) is well underway, with completion and initial powering-up scheduled for mid-December 2024.

All Civil Works for this stage, including the upgrading and refurbishment of Road Infrastructure, portal entry and the ore handling area are also complete.

Ore Sorter and Forward Plan

Compelling results from Ore Sorting testwork (including a 337% increase in grade and 79% mass reduction) as announced on 25th July 2024, resulted in a decision to incorporate pre-concentration into the flow sheet and design for the Hill End project (as announced 11 September 2024). Construction of the Ore Sorter structure has commenced, with installation expected in January 2025. Installation of the Ore Sorter is not expected to delay plant commissioning, with initial processing of existing stockpiles located at the plant location to commence prior to installation and commissioning of the Ore Sorter.

Corporate and Financial

On 7 November 2024, Shareholders voted to approve the second tranche of the Company's 2-tranche share placement announced in mid-August 2024. All funds for the second tranche have been received and allotment is expected shortly.

The Company's Annual General Meeting (AGM) is scheduled for 29 November 2024 and resolutions include approval for the conversion of loan funds received under the capital-raising announced in October 2024. Various option issue approvals were granted in the 7 November Meeting and are being sought at the AGM and a prospectus for the issue of those options is being prepared.

On 27 May 2024 the Company announced that it had signed a terms sheet with Ocean Partners for a US$10M Prepayment Facility, subject to conditions precedent. Following on from the revised mine design and Gravity plant flow sheet, because of the decision to utilise an ore sorter, the capital expenditure required to develop the mine was significantly lowered. A facility of this size is no longer expected to be required by the Company and the parties have agreed that the proposed arrangement will not be completed, with no penalty to the Company. The Company is in negotiations with several parties in relation to a significantly smaller debt or prepayment facility.

Commenting on the progress, Vertex Executive Chairman Roger Jackson said: "We are very excited by the progress that has been made with the Gravity Gold plant installation at our mine ready Gold project.

The installation is well ahead of the time we had scheduled, which has helped recover the time lost due to weather with the civil construction. We are hopeful we can now power the plant up for testing in just a few weeks. We then can commission the plant with the gold ore stockpiles we have sitting at the plant.

I would commend Gekko and our Hill End team for their efforts with this installation."

*To view photgraphs, please visit:
https://abnnewswire.net/lnk/BSH85XZW

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.

Source:
Vertex Minerals Limited

Contact:
Roger Jackson
Executive Chairman
roger@vertexminerals.com.au

Tully Richards
Technical Director
tully@vertexminerals.com.au

News Provided by ABN Newswire via QuoteMedia

base metals investing asx:vtx vtx:au Base Metals Investing

VTX:AU

Vertex Minerals Limited Prepares First Gold from Plant Commissioning for Sale

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce that it has commenced tabling gold concentrate with this material being prepared for sale.

HIGHLIGHTS:

- Vertex's first gold concentrate has been run over the Wilfley table to undergo final concentration with coarse and fine gold evident. This concentrate was produced from material processed during commissioning of the plant. Final weights and grades will be announced once the gold has been sold.

- Vertex have the option to sell gold in concentrate or dore bars, by nature of the gravity process at this plant.

- Commissioning of the gravity plant is ongoing with some further components being introduced to the plant to improve performance, they are:

o A pre-screening scalper has been installed to reduce fines in the system and

o A centrifuge is being installed to extract slimes/fines from the process water.

- Fines are a consequence of surface stockpile weathering over time. This issue is only isolated to the surface stockpile material which is in the weathered zone. The Reward underground material will be fresh and have far less weathered material.

- Samples of the stockpile material have averaged 2.40g/t (refer to Table 1* in the Appendices)

Vertex's Executive Chairman, Roger Jackson commented: "The commissioning of the stockpile material has presented some challenges with the way the old stockpile material breaks down and has initiated intermittent blockages, which has hindered the commissioning process which otherwise has gone very well. Our technical team and operators are solving the problem by minimising the fine material into the process and dropping out the fines from the process water. We are very pleased to know the feed grade material sampled from the stockpiles are averaging 2.40 g/t which is consistent with previous test work and bulk sampling. It is important to note that our main game is mining the Reward gold mine material which is very high grade and hasn't been weathered like the stockpiles so does not present these processing hinderances."

Vertex's Technical Director, Tully Richards commented: "Further testing of low grade stockpile material, to be fed into the gravity plant, continues to reflect earlier reported trenching and bulk sampling exercises with grades of 2.40g/t returned from the most recent exercise".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/V140L838

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.

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less

Vertex Minerals Limited Update on Reward Commissioning

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce that it has completed commissioning of the ore sorting module of the Reward Gold Mine ahead of schedule, with final commissioning works on the gravity gold room circuit continuing.

Vertex's Executive Chairman, Roger Jackson commented: "The ore sorter is exceeding our expectations and has been integrated into our gravity plant circuit perfectly. Its pleasing to see this plant up and running with only the minor tweaks to be undertaken by the Gekko commissioning team to move the plant to nameplate operation. We are looking forward to capitalising on this robust gold market."

HIGHLIGHTS:

- Ore sorter pre concentrator commissioning now complete at the Hill End gravity gold plant. Reward gold mine ore sorts perfectly, with 79% mass reduction and 337% increase in gold grade in the 8mm to 50mm range. (refer to VTX ASX announcement 11 of September 2024).

- TOMRA's LASER sorting technology (Sorter) separates gold bearing quartz ore from waste (slate & greywacke) before it enters the processing plant. Refer to Figure 1*.

- Commissioning of the gravity plant is ongoing with some further components being introduced to the plant to improve performance.

- Gold concentrate is now being produced and reporting to the concentrate hopper ready for tabling in the gold room.

- Training of Vertex operators by Gekko Technicians is progressing well.

- The plant recycles a significant amount of process water and an increasing volume of fines that builds up in process water while running continuously has been experienced during the commissioning process. The build-up of this fine material reduces the efficiency of the classifying process and impacts on plant throughput. Vertex is installing a slurry classifier and a prescreening scalper to reduce this buildup of fine material in process water. Vertex believes that the increased presence of fine material in the stockpiles is a result of weathering of the rock over time. Vertex and Gekko are working through this issue and Vertex expect to announce first commercial production shortly.

- The Wilfley table, used for increasing the grade of gold in concentrate is undergoing some minor modifications to improve efficiency of concentrate handling. A Gemini table will also be installed this week to provide a cleaner final concentrate.

- Vertex have the option to sell gold in concentrate or dore bars, by nature of the gravity process at this plant.

- Vertex is moving toward the commencement of underground mining with the ordering of a development jumbo and procurement longer lead time of plant and equipment.

The inclusion of ore sorting technology positively impacts on the sustainability and profitability of Vertex's Reward Gold Mine by:

- Providing significantly higher-grade ore to the gravity recovery plant, reducing feed tonnage, plant running time and operator hours;

- Reducing energy & water consumption, with

- lower operating costs and

- reduced carbon footprint.

Sorting also significantly reduces the volume of process residue (sand) leading to further ESG benefits and cost savings.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/J5G7G2NF

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.

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less

Vertex Minerals Limited Strengthens Board with Appointment of Mining Executive Sean Richardson

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce the appointment of experienced mining executive Sean Richardson as an Independent Non-Executive Director.

Details of Mr Richardson's qualifications and experience are as set out below.

Commenting on the appointment, Chairman Roger Jackson said:

We are delighted to have Sean joining the Vertex Board at such an exciting time for the Company as we transition into high-grade gold production from stockpiles at Reward and beyond. He brings a wealth of relevant experience and we expect him to supplement the existing Board and Management team well.

SEAN RICHARDSON

MEng MSc MBA FAusIMM MEIAust GAICD

Sean Richardson is a mining professional with a career spanning over 30 years. Mr Richardson experience extends from operations through to consultancy and managerial roles where he has been involved in the exploration and development of mineral projects in Australia, North America, Africa, South-East and Central Asia.

Mr Richardson's notable roles include Managing Director of Empire Resources (ASX:ERL), Chief Operating Officer for Bardoc Gold (ASX:BDC) and Operations Manager for Shaw River Manganese (ASX:SRR).

Mr Richardson is passionate about the mining industry and its role in the advance of society, an enthusiasm that has led Mr Richardson to a seek out and attain greater knowledge of the global minerals industry.

Mr Richardson holds a Master of Engineering Technology (Mining Engineering), a Master of Business Administration (Curtin), a Master of Science in Mineral Economics (WASM), a Graduate Diploma in Mining (WASM) and an Advanced Diploma in Engineering and Mine Surveying (TAFE).

Mr Richardson is also a Graduate Member of the Australian Institute of Company Directors (GAICD), a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and a Member of Engineers Australia (MEIAust).

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.

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less

Prismo Metals Announces Closing of Debt Settlement

(TheNewswire)

Vancouver, British Columbia TheNewswire - March 10 2025 Prismo Metals Inc. (CSE:PRIZ, OTCQB: PMOMF) ( " Prismo " or the " Company " ) is pleased to announce that it has completed its previously announced debt settlement transactions with certain creditors of the Company (the " Creditors "), pursuant to which the Company has issued to the Creditors an aggregate of 4,451,175 common shares of the Company (" Common Shares ") at issue prices ranging from $0.075 to $0.23 per Common Share in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of approximately $464,409 (the " Debt Settlement ").

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Silver47 Commences Trading on OTC Markets Under the Ticker Symbol OTCQB: AAGAF

Silver47 Exploration Corp. (TSXV: AGA) ("Silver47" or the "Company") is pleased to announce that, effective March 10, 2025, its shares will commence trading on the OTCQB Venture Market under the ticker symbol AAGAF. This milestone marks a key step in the Company's growth strategy and enhances its visibility to U.S. investors.

The quotation on the OTCQB® is a significant development for Silver47, as it broadens the Company's investor base and increases access to the U.S. market. With a focus on precious and base metals exploration, at its flagship Red Mountain Project in Alaska, the quotation will facilitate Silver47's continued growth and further support its upcoming exploration and development activities.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Ramp Metals Announces Receipt of Exploration Drill Permits

Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce that the Company has received the necessary permits from the Saskatchewan Ministry of Environment to commence exploration drilling at its flagship Rottenstone SW property.

The Company plans to drill three unique mineralized targets on the property (Figure 1), focusing on the gold discovery of 73.55 g/t Au over 7.5m that was identified in drillhole Ranger-01. The Ramp Metals team will be mobilizing to the property on March 12, 2025.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Heritage Mining Announces Non-Brokered Private Placement of Units and Flow-Through Units

(TheNewswire)

VANCOUVER, BC TheNewswire - March 7, 2025 Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (" Heritage " or the " Company ") is pleased to announce a non-brokered private placement (the " Offering ") of units (" Units ") and flow-through units (" FT Units ") for gross proceeds of up to $1,3750,00.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Vertex Minerals Limited Reward Gold Mine and Company Update

Vertex Minerals Investor Kit

GET YOUR FREE INVESTOR KIT

Investor Insight

Overview

Company Highlights

Key Project

Hill End Gold Project

Reward Underground Gold Mine

Sustainable Production

Exploration Plans

Management Team

Roger Jackson - Executive Chair

Declan Franzmann - Non-executive Director

Tully Richards - Technical Director

Alex Neuling - Company Secretary

Chris Hamilton - General Manager Operations, Hill End Reward Gold Mine

Latest News

Vertex Minerals Investor Kit

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

TOP STOCKS