Native Mineral Resources has produced 340.9 ounces of doré in its latest Blackjack smelt, while more than 815,000 tonnes of material has been moved across two active pits. The latest bars still require assay and refinery results before their gold contribution is known.
- 340.9oz of doré produced in the 8 September smelt
- Previous smelt confirmed 191.99oz of gold and 168.05oz of silver
- 815,000 tonnes moved across Mid Pit and Podosky
- Four Mid Pit and eight Podosky blasts scheduled
- North Pit drilling and Stockholm exploration continue
Latest Blackjack smelt awaits final assays
Native Mineral Resources Holdings Limited (ASX:NMR) has produced two doré bars weighing a combined 340.9 ounces at its Blackjack Gold Operations near Charters Towers, Queensland. The 8 September smelt comprised a 278.6-ounce elution bar and a 62.3-ounce gravity bar, but the figures do not yet show how much gold those bars contain: official assays and refinery outturn results remain pending.
That distinction matters after the previous smelt produced confirmed results. The 1 September bars had a combined received weight of 400.9 ounces and returned 191.99 ounces of gold plus 168.05 ounces of silver, with a combined gold assay of 47.89%. The gravity bar delivered the higher gold assay at 62.44%.
Mining advances across two active pits
NMR says approximately 815,000 tonnes of material has now been moved from Blackjack Mid Pit and Podosky since mining began at the two areas in April and May respectively. The company describes the work as supporting ore supply to its existing Blackjack processing plant, although the announcement does not quantify how much of the material moved has become processed ore.
Mid Pit accounts for about 459,000 tonnes moved and 14 completed blasts, including two in August. Four more blasts are scheduled under the current mine plan. At Podosky, 12 blasts have been completed, including four during August, with roughly 356,000 tonnes moved and another eight blasts scheduled.
Production momentum follows August record
The new smelt follows NMR's reported record August refined gold outturn of 1,080.5 ounces. The company has framed the latest production as a continuation of that momentum, but September's eventual result will depend on the pending assay and refinery data for bars BJM093 and BJM094 rather than their doré weight alone.
North Pit and Stockholm build future ore pipeline
Drilling is continuing at Blackjack North Pit as NMR assesses the area for future mine development. Exploration is also progressing across the Stockholm Tenements under the joint venture agreement with Citigold Corporation Limited (ASX:CTO), which gives NMR an exclusive licence to undertake exploration and proving-up drilling.
For shareholders, the immediate test is straightforward: whether the latest 340.9 ounces of doré converts into a gold outturn that supports another strong September production result. Beyond that, the scheduled blasts, North Pit drilling and Stockholm exploration are intended to add potential ore sources, but each remains dependent on the operational and geological results still to come.
Bottom Line?
The next material datapoint is the gold assay and refinery outturn for BJM093 and BJM094, while the longer-term story rests on whether pit development and exploration translate into reliable additional ore supply.
Questions in the middle?
- How many ounces of gold will the 340.9 ounces of latest doré ultimately contain?
- Can the scheduled blasts maintain ore availability after the strong August outturn?
- Will North Pit and Stockholm drilling establish additional sources capable of feeding the Blackjack plant?