Native Mineral Resources (ASX:NMR) reported its strongest operational performance since restarting Blackjack, with a June gold smelt producing 488.5 oz doré and May metallurgical metrics showing record gold recovery over 95%. Multiple mining fronts and ongoing exploration position NMR for growth in FY2027.
- June smelt yields 488.5 oz doré with ~60% gold content
- May metallurgical results record 429.5 oz gold recovery at 95.3% plant recovery
- Mining advances at Blackjack South Pit, Mid Pit waste stripping, and Podosky ore processing
- Far Fanning drilling and mine planning progressing for future production
- Environmental approvals and rehabilitation plans on track for submission
Record Gold Smelt Highlights Operational Upswing
Native Mineral Resources Holdings Limited (ASX:NMR) has achieved its strongest operating performance since resuming production at the Blackjack Gold Operations near Charters Towers. The company completed a gold smelt on 7 June 2026, producing four doré bars totalling 488.5 ounces with an estimated average gold content of around 60%. This follows a previous smelt in May yielding 344 ounces of doré, which refined to 181.25 ounces of gold and 109.2 ounces of silver. Official assay results for the latest smelt are expected imminently, potentially confirming a further boost to payable gold output.
May Metallurgical Performance Sets New Benchmarks
May 2026 marked a milestone month for Blackjack’s processing plant, delivering the highest monthly gold recovery since production restarted in July 2025. Despite a slight drop in throughput to 22,331 dry tonnes milled, the plant achieved a reconciled gold recovery of 429.5 ounces, a 55.6% increase month-on-month, while maintaining a robust 95.3% plant recovery rate. Crusher and ball mill availability also improved to 88.9% and 98.2%, respectively, underpinning operational reliability and efficiency. The head grade climbed to 0.63 g/t Au, the best monthly grade recorded this calendar year, reflecting the positive impact of transitioning to higher-grade feed sources.
Multiple Mining Fronts Drive Production Flexibility
Blackjack’s mining operations are expanding across several fronts. Waste stripping at Mid Pit has surpassed 200,000 tonnes, with first mineralised feed from this area expected to reach the processing plant later in June. Meanwhile, South Pit drilling has been completed with assays pending, which will guide further mining development. At Podosky, mining commenced in late May, with approximately 3,900 tonnes of mineralised material processed during the reporting period. Infrastructure works including pit access roads, ROM pads, and waste rock dumps are progressing on schedule, alongside water infrastructure installation in partnership with the local landowner.
Far Fanning Exploration and Planning Advance
Far Fanning continues to supplement plant feed through haulage of mineralised stockpiles, maintaining expected performance levels. The company completed diamond drilling in May, with results being integrated into geological models and mine plans. A reverse circulation drilling program is set to commence in June, targeting resource growth and improved geological confidence over a 10-week period. Preparations for site establishment works are underway, pending approvals and scheduling, signalling Far Fanning’s potential as a future long-term production source within NMR’s portfolio.
Environmental and Regulatory Progress
NMR is advancing key environmental approvals, including engineering and design for tailings storage facility expansions and cover designs. The company aims to submit Progressive Rehabilitation and Closure Plans for Blackjack and Far Fanning during June 2026, aligning with regulatory requirements. Continued updates on approvals and infrastructure planning are expected in forthcoming announcements, reinforcing NMR’s commitment to sustainable operations.
Bottom Line?
NMR’s operational momentum at Blackjack, supported by multiple mining fronts and advancing exploration, sets a strong platform for production growth, though official assay results and regulatory approvals remain critical near-term catalysts.
Questions in the middle?
- Will the official assay results confirm the estimated 60% gold content in the latest doré bars?
- How will the integration of Podosky and Mid Pit mineralised material impact production volumes in FY2027?
- What are the timelines and potential risks associated with securing environmental approvals for expansion?