NMR Uncovers 15 New Gold Targets at Blackjack with Drone Survey

Survey Unveils New Exploration Opportunities

Native Mineral Resources Holdings Limited (ASX, NMR) has taken a significant step forward in expanding its gold exploration footprint at the Blackjack Gold Project near Charters Towers, Queensland. The company recently completed a high-resolution drone magnetic (DMAG) survey spanning 387 hectares with a tight 25-metre line spacing, enabling a detailed structural interpretation of the area.

The survey delineated 15 new magnetic anomalies, which the company has classified into three priority tiers based on their geological characteristics and potential to host gold mineralisation. These anomalies predominantly reflect zones of magnetite destruction and alteration, geological signatures often associated with gold deposits.

Targets Aligned with Known Mineralisation Trends

One standout anomaly, BJ_1, aligns with the three existing open pits at Blackjack and is characterised by magnetite destruction, a hallmark of hydrothermal alteration linked to gold mineralisation. Several other anomalies run parallel or perpendicular to BJ_1, suggesting possible extensions or feeder structures that could host additional gold mineralisation.

Notably, some targets such as BJ_14 are associated with lithological contacts that have seen limited prior exploration, presenting fresh opportunities for discovery. The company’s technical team is prioritising these targets for follow-up work, which includes immediate ground mapping and geochemical sampling to validate the anomalies before drilling.

Drilling and Production Outlook

Drilling is scheduled to commence in November 2025, with a focus on targets located within the existing mining leases to expedite potential resource expansion. This exploration push comes as NMR has recently achieved steady-state gold production at Blackjack, with a reported 700 ounces of gold dore poured in mid-September and another pour expected later this month.

Managing Director Blake Cannavo expressed optimism about the survey results, highlighting the potential for a larger anomalous footprint than previously understood. The company’s approach combines ongoing production with aggressive exploration, aiming to build on existing resources and extend the mine life.

Technical Excellence and Data Quality

The DMAG survey employed advanced drone technology towing a caesium magnetometer, delivering high-resolution magnetic data with excellent positional accuracy. Despite some interference from infrastructure such as powerlines, the data quality supports confident structural interpretations at a 1, 5,000 scale, enabling precise targeting of exploration efforts.

Southern Geoscience Consultants provided the structural interpretation, integrating the magnetic data with existing geological mapping and drilling information. This comprehensive approach has refined the understanding of the local geology within the Lolworth-Ravenswood province, a region known for its prolific gold deposits.