70 Ounces of Gold Poured at Blackjack with 91.64% Recovery Rate
Native Mineral Resources has poured its first gold at the Blackjack Gold Project in Queensland, marking a pivotal shift from development to production with initial revenue generated.
- First gold produced at Blackjack on 30 July 2025
- 70 ounces poured with 91.64% recovery rate
- Initial ore feed from low-grade stockpile and first production blast
- Ramp-up to higher-grade ore and plant optimisation underway
- Q3 production and cash flow update scheduled for October 2025
A Milestone Moment for Native Mineral Resources
Native Mineral Resources Holdings Limited (ASX, NMR) has reached a significant operational milestone with the successful production of its first gold at the Blackjack Gold Project near Charters Towers, Queensland. On 30 July 2025, the company poured 70 ounces of gold with a recovery rate of 91.64%, signaling its transition from a gold developer to a producing miner and generating its inaugural revenue.
Commissioning Success and Early Production Details
The initial gold pour was achieved using ore sourced from the company’s first drill and blast program, processed through a fully refurbished 340,000 tonnes per annum carbon-in-leach (CIL) facility. The processing plant, including the elution circuit and gold room equipment, performed as expected during commissioning. While the ore feed initially combined 75% low-grade material with 25% from the Far Fanning deposit, it shifted to 100% low-grade ore shortly before the first pour.
This early production phase is part of a staged commissioning strategy designed to validate plant performance and metallurgical processes. The company expects minor impurities during this initial stage but remains confident in the plant’s design and operational readiness.
Looking Ahead, Ramp-Up and Optimisation
Following this milestone, Native Mineral Resources plans to ramp up ore feed volumes using higher-grade run-of-mine material to enhance gold output. The company is also focused on optimising plant operations and finalising its mine plan with external engineering consultants. These steps aim to ensure sustained production and improved efficiencies as the project moves into full operational mode.
Gold bars produced are scheduled for secure transport to ABC Refinery in Sydney for assay and refining, with the next gold pour planned for 8 August 2025. Investors can anticipate a detailed production, processing, and cash flow update in October 2025, covering the third quarter.
Strategic Implications for the Charters Towers Region
The Blackjack Gold Project’s successful commissioning and first gold production mark a transformational moment for Native Mineral Resources and the broader Charters Towers mining region. The company’s progress validates its investment in plant refurbishment and metallurgical design, positioning it to contribute meaningfully to local gold output and regional economic activity.
Managing Director Blake Cannavo highlighted the achievement as a proud moment for the team and shareholders, emphasizing the company’s confidence in moving forward with ramp-up and optimisation efforts.
Bottom Line?
Native Mineral Resources’ first gold pour is just the beginning, ramp-up and optimisation will determine if Blackjack can deliver sustained production growth.
Questions in the middle?
- How quickly can Native Mineral Resources ramp up to full processing capacity with higher-grade ore?
- What will the final mine plan reveal about production longevity and cost efficiency?
- How will metallurgical accounting and recovery rates hold up during full-scale operations?
