ASX Code: VTX
RED HILL DRILL PROGRAM
PERMITTED AND READY TO
onlyETHICALLY AND ENVIRONMENTALLY SUSTAINABLE
Advanced Hill End Gold Project (NSW) 14km strike high grade gold system - to be developed on a large scale 1.6m ozs historically mined
Advanced Hargraves Gold Project (NSW) usemoving to a PFS
Combined existing 2012 JORC 257K oz @ 2.11 g/t & significant exploration upside likely to be amenable to gravity recovery, with recoveries potentially as high as 95%
Highly prospective Pride of Elvire Gold Project (WA) & Taylors Rock Nickel Gold
Project (WA)
personalHill End is home to the largest gold reef nugget ever to be found - Globally
W. www.Vertexminerals.com
E. info@vertexminerals.com.au
For
COMMENCE LATER THIS MONTH
ASX ANNOUCEMENT 02 JUNE 2022
KEY HIGHLIGHTS:
- A surface drilling permit over the Red Hill Gold project area at HillEndhasbeen granted by the NSW Department of Mines.
- Drilling for an initial 1,500m RC drill program and the associated preparation works has been approved.
- Drill site preparation has now begun, and rig now planned to be on site to commence drilling later this month.
- Vertex Directors and geologists on site to ground truth the drill collars.
- Red Hill Resource forms 1km of the 14km strike length of the Hill End - Gold field.
-
Red Hill has an existing resource of 80,000 oz Au @ 1.7 g/t to 150m depth.
Ethical and environmental sustainability focused gold explorer Vertex Minerals Limited (ASX: VTX) ("Vertex" or the "Company") is pleased to advise that it has been granted a permit to drill the initial 1,500 Reverse Circulation ('RC') drill program at the Red Hill Project commencing late this month.
Vertex Minerals Ltd ABN 68 650 116 153 | |
Unit 38, 460 Stirling Highway | PO Box 8770 |
Peppermint Grove | Orange |
WA 6011 | NSW 2800 |
Phone +61 (0) 8 6383 7828 | Email: info@vertexminerals.com.au |
The Red Hill Resource forms 1km of the 14km strike length at the Hill End Gold Project located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW (refer image 1). The project has seen extensive historical mining, however, most of the previous workings were impeded by a high-water table. Work
onlyundertaken in 2015 by Hill End Gold Limited ('HEG') culminated in a JORC 2012 resource estimate at the Red Hill Resource of 80,000 oz Au @ 1.7 g/t to 150m depth. The complete resource is summarised in Table 1 below.
use
personal | Table 1: Red Hill resource table as announced by HEG in November 2015 |
The Red Hill metallurgy is believed to be amendable to gravity recovery methods, with previous test work reporting recovery rates greater than 90%. The project boasts an existing 100% owned and permitted processing plant. Easy access to the existing plant and high metallurgical recovery presents Vertex with the
pportunity to develop a gold mine with a very small environmental footprint.
The planned 1,500m RC drill program will focus on targeting the stockwork and halo zones that have the g eatest potential to add significant tonnage to the resource whilst improving amenability to bulk mining methods (refer image 2). Deeper targets identified at the prospect which will be examined during the program include the Frasers zone.
The planned drilling will be the Company's maiden drill program undertaken at the Hill End Project. Red Hill presents significant potential for exploration and resource growth in a neglected mining district of significant size, gold grade and unique amenability to gravity processing techniques.
ForThe drill rig is expected to be mobilised to site in the coming weeks with the drill program expected to confirm extensions to the resourced mineralisation.
Executive Chairman Roger Jackson commented:
"Securing the permit to drill at Hill End for Vertex's maiden surface RC drilling campaign on the Red Hill Project represents another very important milestone in Vertex's efforts to explore and ultimately develop its Hill End Gold
Project. It allows us to add gold inventory to the existing resource at Red Hill and define further mineralization in "crosscourse" structures which are not well understood. Red Hill is a few kilometers long and forms part of the greater Hill End Corridor."
For personal use only
Image 1: NSW project locations
For personal use only
Image 2: Proposed drilling locations at Red Hill
This announcement has been approved by the Board of Vertex Minerals Limited.
Further Information: | |
only | Tully Richards |
Roger Jackson | |
Executive Chairman | Technical Director |
roger@vertexminerals.com.au | tully@vertexminerals.com.au |
Released through: Ben Davies, Six Degrees Investor Relations, +61 431 658 276 | |
use | |
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 and its Pride of Elvire and Taylors Rock gold projects located in a well-known WA gold precinct. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach, utilising the below attributes/techniques to uniquely positioning the company as Australia's first truly environmentally sustainable producer of green gold:
personal | • | Benign Tailings: The tailings will essentially be quartz with little to no sulphides |
• | Direct Smelting: The use of direct smelting of a gold concentrate that eliminates the need to use cyanide as a solvent | |
• | Gravity Separation: The deportment of gold at the Hill End Project allows high recovery to a concentrate produced using | |
gravity separation techniques | ||
• | Contrast in Density: These separation techniques take advantage of the contrast in density of gold (ρ=19.3) relative to | |
quartz (ρ=2.65) | ||
• | Renewable Energy: The unique landscape and infrastructure makes Hill End ideal for the establishment of renewable | |
sources of power. The Crudine Ridge Windfarm is only 30km from the project site and Vertex plans to examine a pumped | ||
hydro-electricity scheme as an integral part of any proposed development. The topography and existing mine workings | ||
including shafts and adits make the establishment of a pumped hydro scheme achievable at modest expense |
Hargraves Gold Project (NSW)
- Hargraves Gold project is located approximately 2 5 km south of the town of Mudgee
- The goldfield is 4 x 10 k m with numerous mineralised structures with little modern exploration
- An updated mineral resource in accordance with JORC 2012 Code was completed by SRK Consulting (Australasia) Pty Ltd (SRK) - total of 2.3Mt at 2.38g/t Au for 177koz Au
Hill End Gold Project (NSW)
For | • Consists of 10 mining leases and three Exploration Licences located in the core of the Hill End Trough on the eastern Lachlan |
Fold Belt | |
• | 14km of continuous gold lode with gold recovery rate to gravity at +90% - green gold |
• | Work undertaken in 2015 by Hill End Gold Limited (HEG) culminated in a JORC 2012 resource estimate of 80,000 oz Au @ |
1.7 g/t to 150m depth |
Pride of Elvire Gold Project (WA)
- Tenements surround the Mt. Elvire homestead approximately 210km north of Southern Cross in Western Australia
- The project has seen historical drilling with encouraging gold results achieved
Taylors Rock Project (WA)
- Located 80km WSW of Norseman in the Southern Goldfields region of Western Australia
- The project has both Gold and Nickel potential, interesting historical intercepts have recorded encouraging mineralisation
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Vertex Minerals Ltd. published this content on 02 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2022 05:11:05 UTC.