Native Mineral Resources Unveils Shallow High-Grade Gold at Podosky, Eyes April Mining Start

Strong Shallow Gold Intercepts at Podosky

Native Mineral Resources Holdings Limited (ASX:NMR) has delivered a compelling update from its Phase 1 drilling program at the Podosky deposit, part of the Ravenswood Gold Project joint venture with Haoma Mining. The company reported standout results including an 18-metre intercept grading 11.33 grams per tonne gold starting at just 12 metres depth, which notably includes a spectacular 1 metre at 101.10 grams per tonne. These results confirm the presence of shallow, high-grade gold mineralisation that aligns with historical drilling data.

Additional intercepts from the program reinforce the continuity of mineralisation close to surface, with multiple holes returning grades supportive of open-pit mining methods. The shallow nature of these deposits is a key factor in NMR’s strategy to develop Podosky as a near-term supplementary ore source for its nearby Blackjack processing plant.

Advancing Towards Mining Readiness

With Phase 1 drilling expected to wrap up imminently, Native Mineral Resources is progressing rapidly into the next phase of project development. Geological modelling, pit optimisation, mine design, and scheduling are all targeted for completion by the end of March 2026. Subject to these outcomes, along with contractor availability and regulatory approvals, the company aims to commence blasting and mining activities at Podosky in April 2026.

Parallel to Podosky’s development, the Blackjack mine is also advancing through geological modelling and mine planning stages, with similar timelines for mining commencement. This dual-track approach underscores NMR’s commitment to maintaining multiple ore sources feeding the Blackjack processing plant, enhancing operational flexibility and resource longevity.

Infrastructure and Approvals in Focus

Following the completion of drilling at Podosky, NMR plans to initiate a three-week sterilisation drilling campaign at Blackjack. This campaign aims to delineate and mitigate risks associated with the locations of a proposed new tailings storage facility and waste rock dump, critical infrastructure for ongoing and expanded mining operations.

Meanwhile, the company continues to advance a suite of approvals and development workstreams across its broader asset portfolio, including the Far Fanning project. Environmental Authority amendments, Progressive Rehabilitation and Closure Plans, and Estimated Rehabilitation Cost submissions are all progressing, reflecting a comprehensive approach to regulatory compliance and environmental stewardship.

Outlook and Strategic Implications

Native Mineral Resources’ latest drilling results at Podosky not only validate historical data but also enhance confidence in the deposit’s economic viability. The shallow, high-grade nature of the mineralisation bodes well for cost-effective open-pit mining, potentially accelerating cash flow generation. The company’s integrated approach; combining exploration, mine planning, infrastructure development, and regulatory engagement; positions it well to capitalise on these promising findings.

As the company moves towards mining commencement, market participants will be watching closely for final assay results, the outcomes of pit optimisation studies, and the progress of key approvals. The success of these initiatives will be pivotal in shaping Native Mineral Resources’ near-term production profile and growth trajectory within the competitive Queensland gold sector.