Native Mineral Resources Advances Transition to Full-Scale Gold Production at Blackjack
Native Mineral Resources (ASX: NMR) is transitioning to full-scale gold production at its Blackjack project in north Queensland, with three gold pours this month producing approximately 300 ounces of gold doré.
Feed grade peaked at 1.08 grams per tonne gold and the company recorded a total of 17,697 dry tonnes milled to 25 August, delivering an average grade of 0.526g/t and 91.65% recovery.
With ramp-up momentum building, key approvals progressing, and regional growth projects advancing, NMR believes it is on track to deliver sustained gold production and long-term value creation for shareholders.
Significant Achievement
Managing director Blake Cannavo said the gold pours were a significant achievement as the company ramps-up the Charters Towers operation.
“August is proving to be a transformational month for our business, with plant performance improving daily, feed grades steadily increasing and strong recoveries being maintained,” he said.
“Our strategy remains focused on delivering sustainable gold production from Blackjack while unlocking value across our broader asset portfolio including the Far Fanning and Granite Castle deposits to give us confidence in the robustness of our processing circuit.”
Restart on Track
The company has confirmed the restart of its Charters Towers assets remains on track, commencing mining from the South Pit this month with ore supply aligned to mill throughput.
NMR plans to begin developing the North Pit prior to completing the South Pit, with development of the Central Pit and any other potential extensions to follow that.
The company has so far completed six blasts at Blackjack, with two additional blasts scheduled for September.
Current operations at the project are day-shift only to maintain a low-cost profile, with the company planning to activate continuous rosters as economics allow.
Plant Expansion Plan
NMR this month engaged Ausenco to scope a capital-efficient expansion plan for the Blackjack carbon-in-leach processing plant beyond its current 340,000 tonnes per annum capacity.
Feasibility work will target automation and throughput optimisation during financial years 2026 and 2027.
The company expects the expansion to significantly increase the plant’s throughput, potentially reaching over 80,000ozpa of gold over a minimum seven-year mine life.
Far Fanning Drilling
The Far Fanning deposit, which sits on five granted mining leases covering 2.6 square kilometres, was last mined in 2005, and has an inferred mineral resource of 2.3Mt at 1.84g/t gold for 138,000oz gold.
68 targeted samples from the deposit’s historic stockpiles returned grades of up to 85.1g/t gold in November, with 38 of these greater than 0.5g/t.
The company plans to complete resource definition and infill drilling at Far Fanning to improve confidence and support its planned resource update and feasibility study.
It has engaged SLR Consulting Australia to complete progressive rehabilitation and closure plans for Blackjack and Far Fanning during 2026.