NMR’s Blackjack Diamond Drilling Hits 98.93g/t Gold High-Grade Zone

Diamond Drilling Confirms Exceptional Grades at Blackjack

Native Mineral Resources (ASX:NMR) has reported assay results from two of three diamond drill holes at the North Central pit of its Blackjack Mine in Queensland, revealing gold grades that not only confirm but surpass previous reverse circulation (RC) drilling. The standout intercept was 5.45 metres at 14.23 grams per tonne (g/t) gold from 21.55 metres, featuring a blistering 0.62 metres at 98.93 g/t Au. This represents the highest grade yet recorded in all Blackjack drilling to date, highlighting the potential for high-value extraction in the deposit.

These diamond holes were designed to provide more than just grade confirmation; they also supply crucial geotechnical data, including specific gravity and petrographic analysis, to support mine design and development. While assays for the third hole (BNDD0001) are still pending, the current results reinforce the robustness of the deposit and the quality of the mineralisation.

Mining Restart and Processing Capacity Utilisation

Mining operations have resumed at both the Blackjack South and North Central pits, with drill and blast activities actively underway. Processing of ore at the Blackjack mill is in progress, leveraging the high-grade feed from these pits. The company also plans to haul ore from the nearby Podosky deposit, located about 100 kilometres away, to the Blackjack processing plant. This strategy ensures full utilisation of the mill’s capacity through multiple drill-and-blast campaigns planned until October 2026 under NMR’s exclusive 12-month mining right.

This operational update aligns with the company’s recent announcement detailing the recommencement of mining and the scheduled start of ore haulage from Podosky in late April. The integration of Podosky ore is expected to sustain mill throughput and support ongoing production targets without the need for third-party ore sources, a notable operational advantage for NMR.

Infrastructure and Development Workstreams Progressing

Alongside drilling and mining, NMR is advancing several critical infrastructure projects at its Charters Towers assets. These include plant improvements, tailings storage facility (TSF) expansion, water infrastructure upgrades, and securing necessary approvals. A sterilisation drilling program of approximately 100 holes has commenced, targeting the new TSF location and future waste rock dump areas, with completion expected by early May.

These parallel workstreams are essential for sustaining and potentially expanding production capacity, underscoring the company’s commitment to methodical project development. The diamond drilling program also contributes valuable geotechnical insights that will inform ongoing mine planning and operational safety.

Technical and Historical Context of Blackjack Mineralisation

The Blackjack gold mineralisation occurs within the Palaeozoic Ravenswood Batholith and is characterised by mesothermal quartz reefs containing gold and associated sulfides. The deposit’s geological setting and mineralisation style are consistent with the Charters Towers region’s well-documented gold systems. Previous exploration by multiple parties, including Citigold and Maroon Gold, laid the groundwork for current operations.

The diamond drill holes were oriented to intersect the orebody at an angle close to true width, providing reliable grade and structural data. The company plans to undertake further petrographic studies and multi-element assays at certified laboratories to deepen understanding of the deposit’s characteristics.

This drilling update builds on the company’s recent operational milestones, including the restarts at Blackjack and Podosky mining, which collectively aim to ramp up production and solidify NMR’s position in Queensland’s gold sector.