Native Mineral Resources (ASX: NMR) has updated its drilling results at the Podosky deposit in Queensland, confirming shallow, high-grade gold mineralisation that supports near-term open-pit mining plans. Mining activities are targeted to commence in April 2026.
- 18m @ 11.33g/t Au from 12m including 1m @ 101.10g/t Au
- Phase 1 drilling at Podosky nearing completion with final diamond holes pending
- Geological modelling and mine design underway targeting March completion
- Mining and blasting planned to start April 2026
- Parallel development and sterilisation drilling progressing at Blackjack mine
Strong Drilling Results Reinforce Podosky’s Potential
Native Mineral Resources Holdings Limited (ASX:NMR) has provided an updated confirmation of shallow, high-grade gold mineralisation at its Podosky deposit, part of the Ravenswood Gold Project joint venture with Haoma Mining in northern Queensland. The latest Phase 1 drilling results include a standout intercept of 18 metres at 11.33 grams per tonne gold from just 12 metres depth, highlighted by an exceptional 1 metre at 101.10 grams per tonne within that interval. These results reinforce the company’s view that Podosky’s mineralisation is both high quality and accessible near surface.
Importantly, the shallow nature of the mineralisation supports the potential for open-pit mining, a less costly and more flexible extraction method compared to underground mining. This aligns with NMR’s strategic goal to establish multiple ore sources feeding its Blackjack processing plant, located approximately 75 kilometres west of Podosky.
Advancing Towards Mining Readiness
Phase 1 drilling at Podosky is expected to wrap up imminently with the completion of the final diamond drill holes. Following receipt of all assay results, NMR’s mining consultants will finalise geological modelling, pit optimisation, mine design, and production scheduling during March 2026. Subject to these outcomes, contractor availability, and regulatory approvals, the company is targeting to commence blasting and mining activities at Podosky in April 2026.
Parallel to Podosky’s development, geological modelling at the Blackjack mine has been completed, with pit optimisation and mine design underway. This coordinated approach aims to support simultaneous mining operations at both sites, enhancing operational flexibility and ore feed reliability for the Blackjack processing plant.
Supporting Infrastructure and Approvals Progress
Following Podosky drilling, NMR plans a three-week sterilisation drilling campaign at Blackjack to define and de-risk locations for a new tailings storage facility and waste rock dump. These infrastructure developments are critical for ongoing and expanded mining operations.
Meanwhile, the company continues to advance environmental and operational approvals across its broader asset base, including the Far Fanning project and joint venture assets at Waterloo and Wellington Springs. Minor Environmental Authority amendments and Progressive Rehabilitation and Closure Plans are progressing, reflecting NMR’s commitment to regulatory compliance and sustainable development.
Outlook and Strategic Implications
Native Mineral Resources’ updated drilling results at Podosky not only validate historical data but also enhance confidence in the deposit’s economic viability. The planned April 2026 mining start marks a significant milestone, potentially adding a valuable ore source to the company’s portfolio. The integration of multiple deposits feeding the Blackjack processing plant could improve operational resilience and extend mine life.
However, final assay results from the remaining diamond holes and regulatory approvals remain key variables. Investors will be watching closely as NMR progresses through these critical next steps.
Bottom Line?
With mining at Podosky slated for April, NMR is poised to expand its gold production footprint; pending final assays and approvals.
Questions in the middle?
- Will the final diamond drill results confirm the current high-grade mineralisation estimates?
- How will regulatory approvals impact the planned April mining commencement at Podosky?
- What is the expected production volume and grade contribution from Podosky to the Blackjack processing plant?