How Vertex Minerals Is Poised to Unlock High-Grade Gold at Reward Mine

Operational Progress at Reward Gold Mine

Vertex Minerals Ltd (ASX, VTX) has reported a busy quarter ending 30 June 2025, marked by the commencement of operations at its Reward Gold Mine gravity plant. The processing of low-grade stockpiled gold ore through the gravity plant has begun, producing saleable gold and setting the stage for the next phase of underground mining.

The company remains on track to deliver its first underground high-grade gold ore to the gravity plant in the third quarter of 2025. This follows a series of commissioning and mine readiness activities, including the installation of primary ventilation, power infrastructure, and underground mining equipment such as the fully operational Epiroc TD1 Jumbo drill.

Mine Development and Resource Highlights

Vertex’s technical team has identified a fully developed stope block ready for production start-up. These stopes are suitable for airleg mining to complement jumbo drilling efforts. The stope blocks contain an inferred resource of 2,075 tonnes at an impressive grade of 17.8 grams per tonne gold, with a lower block exceeding 700 tonnes at 42.5 grams per tonne. This resource forms part of the 2023 Mineral Resource Estimate, underscoring the high-grade potential of the Reward mine.

Additional infrastructure milestones include the completion of mine dewatering, installation of ventilation fans, construction of an explosive magazine, and implementation of safety and monitoring systems such as INX Software for real-time incident reporting and site access control.

Financial and Corporate Developments

Reflecting strong investor confidence, Vertex secured firm commitments to raise approximately A$11 million through a combination of share placement and convertible note issuance to institutional and sophisticated investors. This capital raise is intended to fund the final pre-development works and support the transition to underground mining and processing.

Key management appointments were made during the quarter, including the naming of Vince Fayad and Kurt Laney as joint Chief Financial Officers, and Ian Morgan as Company Secretary. These hires bring extensive experience in corporate finance and public company governance, positioning Vertex well for its next stage of growth.

Sustainability and Strategic Outlook

Vertex is advancing a strategy focused on low-capital, low-operating-cost gravity gold recovery methods, with an emphasis on environmental, social, and governance (ESG) principles. The company highlights its use of ore sorting technology to improve plant efficiency and reduce energy, water consumption, and carbon footprint. Tailings management involves dry stacking and rehabilitation, avoiding the need for tailings dams.

Looking ahead, Vertex aims to ramp up underground mining operations starting in August 2025, with a clear goal to become Australia’s most prominent high-grade gold miner. The company also plans to expand its resource base through exploration drilling within the Hill End corridor.