NMR’s latest Blackjack smelt points to another strong September

The latest Blackjack smelt has delivered another sizeable batch of doré, but the more important number is still pending. Native Mineral Resources Holdings Limited (ASX:NMR) produced 313.6oz of gross doré on 29 September, while final Perth Mint weighing, assay and refinery outturn remain outstanding.

Preliminary laboratory assays indicate approximately 157.4oz of contained gold in the two bars. That result is not yet official, but it would take September’s confirmed gold outturn of 760.3oz, which excludes the latest smelt, to an indicative total of about 917.7oz once the preliminary figure is included.

September smelt awaits Perth Mint confirmation

The latest production comprised 230.6oz from the elution circuit and 83.0oz from the gravity circuit. The previous 22 September smelt produced an official 138.6oz of gold and 84.4oz of silver, giving NMR a settled September result before the final two bars are processed by the refinery.

The company’s historical production table shows the operation has produced 15,394.2oz of doré across its reported smelts, with 14,862.6oz of official refinery weight and 5,729.1oz of gold outturn. The gap between gross doré and refined output is a useful reminder that smelt weight alone is not the figure that ultimately counts for production reporting.

Mining resumes at Mid Pit and Podosky

Operationally, NMR says it mined 154,569 tonnes during September: 130,381t at Podosky and 24,188t at Blackjack Mid Pit. Since mining began in April, cumulative material movement across the two areas has reached approximately 920,773t.

Mining is scheduled to recommence at Mid Pit on 1 October and at Podosky on 2 October after drilling, sampling and blasting programs. Mid Pit’s current sequence is planned to continue through December, after which activity is expected to progressively transition towards Blackjack North Pit.

North Pit drilling sets the next operational test

RC drilling at North Pit remains on track for completion during October, with samples being assayed progressively. Results received so far are being assessed internally and have not yet been reported, leaving the next drilling update as a separate catalyst from the immediate production figures.

The near-term test is therefore twofold: whether Perth Mint outturn converts the latest doré into another solid gold contribution, and whether the restarted mining areas can maintain feed continuity while North Pit moves closer to the next stage of development.