NMR Surpasses 860oz Doré in Single Smelt as Blackjack Gold Output Accelerates

• Record 861.3oz doré smelt on 11 August 2026
• 46% increase from prior 590oz smelt on 4 August
• Blackjack South Pit mining completed with 168kt material moved
• Ongoing mining at Blackjack Mid Pit and Podosky
• Drilling set to start at Blackjack North and Central Pit, Far Fanning development advancing

Record Weekly Smelt Boosts Blackjack Output

Native Mineral Resources (ASX:NMR) has hit a new high-water mark in gold production at its Blackjack Gold Operations near Charters Towers, Queensland. The latest smelt completed on 11 August 2026 yielded 861.3 ounces (26.78kg) of doré across three substantial bars, a 46% jump from the 590oz smelt just a week earlier. Together, these two August smelts have produced a combined 1,451.3oz of doré, underscoring a clear acceleration in production momentum.

The 11 August smelt bars, labeled BJM082 to BJM084, were split between the elution and gravity circuits, with the largest single bar weighing 304.5oz. Official refinery assays for gold and silver content are pending, but the 4 August smelt confirmed gold represented 45.48% of doré assay weight, translating to 266 ounces of gold and 227 ounces of silver. This ongoing refinement of output metrics will provide clearer insight into the precise gold yield from these doré bars.

Mining Progress Highlights Blackjack South Completion

Mining operations at Blackjack South Pit, the company’s first fully mined pit since starting in June 2025, were successfully completed on 4 August 2026. Over the campaign, approximately 168,000 tonnes of material were moved, producing around 36,000 tonnes of plant feed for processing. This milestone demonstrates steady execution of NMR’s mine plan and sets the foundation for subsequent phases.

Meanwhile, mining at Blackjack Mid Pit is advancing steadily, with 59% of the current pit design mined and 12 of 17 planned blasts completed. The operation is progressing through the 320 bench, with plans to continue down through lower benches as scheduled. Podosky, another key mining area, is about 39% mined with nine blasts completed, contributing additional feedstock to the processing plant.

Next Mining Frontiers and Far Fanning Development

Looking ahead, drilling at Blackjack North Pit is slated to begin next week, supporting further geological definition and mine planning. Central Pit drilling and development are planned to follow within the next three months, with ongoing coordination with Ergon Energy regarding powerline relocation to facilitate early 2027 mining activities.

Far Fanning remains a critical focus for future growth, with NMR advancing a comprehensive development program. Following a 12-hole diamond drilling campaign completed in May 2026 and submission of a Progressive Rehabilitation and Closure Plan, the company aims to finalise dewatering by the end of August. A substantial 10,000-metre reverse circulation drilling program is scheduled to commence on 31 August, feeding into geological modelling and pit optimisation. Mining at Far Fanning’s East Pit is targeted to start by late May 2027, subject to approvals.

Wet Season Preparations to Safeguard Operations

With the North Queensland wet season approaching, NMR has initiated pre-wet-season readiness measures. These focus on pit dewatering, water management, haul-road and site access, drainage, and pumping capacity to maintain continuity in mining, haulage, and processing despite potential weather disruptions. This proactive approach aims to mitigate risks that seasonal rains could pose to operational flow.

Bottom Line?

NMR’s record doré smelt and advancing mine development signal strong near-term production growth, but upcoming assay results and wet season impacts remain key variables.

Questions in the middle?

• Will official assays confirm gold purity gains in the latest smelt?
• How will wet season conditions affect mining and processing continuity?
• Can drilling success at Blackjack North and Far Fanning sustain production momentum?