Latest Charters Towers News

Citigold has signed a binding joint venture with Native Mineral Resources covering 40 tenements around Charters Towers, including most of its reported Central and Warrior resources. NMR will fund and control proving-up drilling, with a mining decision still dependent on results, approvals and economics.

Native Mineral Resources has secured exclusive exploration and potential mining rights across 40 Citigold tenements surrounding Charters Towers, within trucking distance of its Blackjack plant. The opportunity carries no upfront payment, but nearly all reported ounces remain Inferred and must first survive a new drilling program.

Native Mineral Resources delivered a record 1,300.2oz of refined gold from Blackjack in October, supported by higher grades, throughput and plant recovery. A further 895.9oz doré smelt has opened November, although its final Perth Mint outturn remains pending.

Citigold has identified four priority exploration targets at Charters Towers, but no drilling was completed during the September quarter and its reported cash runway fell below half a quarter. The company is also heading into two meetings seeking to replace its board as it pursues funding for the mine restart.

Native Mineral Resources has produced its largest Blackjack doré smelt since operations began, with internal assays pointing to approximately 580oz of contained gold. The result puts October refined gold outturn on track for 1,300oz to 1,400oz, although Perth Mint confirmation is still pending.

Native Mineral Resources has lifted Blackjack’s weekly doré output for a second consecutive week, with the latest 552oz smelt the operation’s largest since August. October production has reached 1,376.2oz, although the newest bars still await Perth Mint refining.

Native Mineral Resources delivered its strongest quarter since restarting the Blackjack plant, with fine gold outturn up 84% to 2,330.9oz and operating cash flow turning positive. The result improves the production picture, but the company remains reliant on debt-funded development and a steady handover from Mid Pit to North Pit.

Native Mineral Resources has surpassed 6,000oz of refined gold production at Blackjack, while its latest weekly smelt produced 527.6oz of doré. October’s record ambitions now depend on Perth Mint results and two remaining smelts.

Native Mineral Resources reported a sharp improvement in Q3 CY26 performance at its Blackjack operation, with refined gold outturn rising 84% quarter on quarter to approximately 2,331oz. A further 296.6oz doré smelt offers an early December-quarter data point, although final refinery results remain pending.

Sunshine Metals has extended gold mineralisation at its Sybil project in North Queensland, led by a 4-metre intersection grading 11.11g/t gold at Francis Creek. The company plans a further 2,600 metres of drilling from mid-October across existing and untested targets.

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.

Citigold and Native Mineral Resources have partnered to explore and potentially mine four tenements near Charters Towers, with Native taking operational control of exploration and possible mining.