Underground Production Commences Reward Gold Mine Project
Released
Released
Announcement PDF
ASX:VTX
ASX ANNOUNCEMENT 11TH AUGUST 2025
REWARD GOLD MINE PROJECT UPDATE
Underground production commences at the Reward Gold Mine
Moving to high grade gold production
Operational Milestones
✓ First blasting of gold producing ore on the Lady Belmore Reef was undertaken over the
weekend.
✓ The material will start complementing the low-grade gold stockpile feed to the Gravity
Processing Plant, until all mining fronts are enabled.
✓ In forthcoming weeks, VTX remains firmly on track to commence processing of high-grade
stope ore from the underground mine.
✓ The Reward Underground 11kva to 1000v Transformer Substation is installed and powered
up. Cabling to the Primary Fan is completed.
✓ Access Drives to the two Starter Stopes are being cleaned, ready for the Production Rig to
commence drilling the High-Grade Stopes.
✓ Decline 3 developed on the Mica Vein is fully dewatered, ready to be flatback mined for
providing further gold feed to the Gravity Plant.
✓ Vertex aims to have developed at least 4 mining fronts and maintain continuous feed to the
plant, which will involve various mining methods.
✓ Mining the Reward Gold Mine – Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).
Classification
Cut-off
Tonnes
Au (g/t)
Indicated
4
141,000
15.54
70,500
Inferred
4
278,000
17.28
154,700
Total
4
419,000
16.72
225,200
Ounces
Figure 1 –Lady Belmore Reef being charged up and hosing down the ore (post blasting).
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Figure 2 - 110kW primary ventilation fan installed and cabled up to the external power source
Figure 3 Explosives being delivered to site to ramp up the underground gold feed.
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Figure 4 Coarse free gold recovered by gravity on the Gemini table at the Reward Gold Mine. The gold is
being won from pre high grade underground production processing of the low-grade stockpiles.
Figure 5 Mica Lense decline now dewatered. One of three gold bearing declines that carry reef gold and will be mined
by flatback mining methods.
As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au
from a developed airleg stope block. The planned stope width is the same as the interpretation of
the mineralisation. Refer to VTX ASX announcement 4th June 2025
Given the stope will take some time to extract, additionally, the Vertex Geology and Mining Team
have brought forward a very high-grade long hole stope to commence mining in August 2025. The
high-grade long hole stope is to be mined with a long hole stope method, using the Epiroc Production
Rig.
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This announcement has been approved by the Executive Chairman.
Further Information:
Roger Jackson, Executive Chairman
roger@vertexminerals.com.au
Tully Richards, Technical Director
tully@vertexminerals.com.au
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Vertex Minerals Limited
ASX Code: VTX
ABN: 68 650 116 153
Vertex Flagship project
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Commenced gold processing in new Gekko gravity gold plant
100% owned mining operation
No hedge - no secured debt – fully funded
High grade gold resource and reserve 225 ozs at 16.7g/t + more
Inherited AU$25 million of underground development at Reward
1.8m Au ozs historic mining
Reward sits just under the historic Hawkins Hill mine - 435kozs at 309 g/t Au
Production has commenced on stockpiles.
Underground development is well underway.
Underground high-grade gold production commencing in weeks
Up to 95% recovery by gravity processes only
Big gold system – 25km + strike
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Mineral Resource Estimate (MRE) for the Reward gold deposit at Hill End now stands at
419,000t at 16.72g/t Au for 225,200oz Au:
Classification
Cut-off
Tonnes
Au (g/t)
Ounces
Indicated
4
141,000
15.54
70,500
Inferred
4
278,000
17.28
154,700
Total
4
419,000
16.72
225,200
Global Mineral Resource estimate for the Hill End & Hargraves Gold Project
Hill End Project Mineral Resource Estimate
Deposit
Classification
Tonnes
(kt)
Grade
Au (g/t)
Contained
Au (koz)
Reward Gold Mine
Indicated
Inferred
Sub Total
141
278
15.5
17.3
71
155
419
16.7
225
1,109
1,210
2.7
2.1
97
80
2,319
2.4
178
413
1,063
1.4
1.8
19
61
1,476
1.7
80
1,663
2,551
8.9
8.6
187
296
4,214
8.7
482
Hargraves Project
Indicated
Inferred
Sub Total
Red Hill Project
Indicated
Inferred
Sub Total
Project Total
Indicated
Inferred
Grand Total
COMPETENT PERSON’S STATEMENT
The information in this report that relates to Exploration Results and Exploration Targets is based on
information compiled by Mr. Roger Jackson, a Director and Shareholder of the Company, who is a 25+ year
Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM), Fellow of the Australian Institute of
Geoscientists (FAIG) and a Member of Australian Institute of Company Directors. Mr Jackson is the Executive
Chairman and a full-time employee of Vertex Minerals Limited (“Company”), and a shareholder of the
Company. Mr. Jackson has sufficient experience which is relevant to the style of mineralisation and type of
deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration results, Mineral Resources
and Ore Reserves”. Mr. Jackson consents to the inclusion of the data contained in relevant resource reports
used for this announcement as well as the matters, form and context in which the relevant data appear.
FORWARD LOOKING STATEMENTS AND IMPORTANT NOTICE
This report contains forecasts, projections and forward-looking information. Although the Company believes
that its expectations, estimates and forecast outcomes are based on reasonable assumptions it can give no
assurance that these will be achieved. Expectations and estimates and projections and information provided
by the Company are not a guarantee of future performance and involve unknown risks and uncertainties, many
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of which are out of Vertex Minerals’ control.
Actual results and developments will almost certainly differ materially from those expressed or implied.
Vertex Minerals has not audited or investigated the accuracy or completeness of the information, statements
and opinions contained in this announcement. To the maximum extent permitted by applicable laws, Vertex
Minerals makes no representation and can give no assurance, guarantee or warranty, express or implied, as
to, and takes no responsibility and assumes no liability for the authenticity, validity, accuracy, suitability or
completeness of, or any errors in or omission from, any information, statement or opinion contained in this
report and without prejudice, to the generality of the foregoing, the achievement or accuracy of any forecasts,
projections or other forward looking information contained or referred to in this report. Investors should
make and rely upon their own enquiries before deciding to acquire or deal in the Company’s securities.
JORC COMPLIANCE STATEMENTS
Where statements in this announcement refer to exploration results which previously been reported, the
Company confirms that it is not aware of any new information or data that materially affects the information
included in the original announcements, and in the case of estimates of Mineral Resources, that all material
assumptions and technical parameters underpinning the estimates in the relevant market announcements
continue to apply and have not materially changed. The Company confirms that the form and context in which
the Competent Persons’ findings are presented have not materially modified from the original market
announcements.
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