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Vertex Minerals Limited (ASX:VTX)

ALERT: Price-sensitive ASX Announcement for VTX
Current share price for VTX : $0.110 0.016 (17.02%)+
Announcement
Release
3 Aug 2026 9:54AM
Price at Release
$0.094
Full Release
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Summary
Vertex Minerals Limited has announced the commencement of stope mining at the Reward Gold Mine in Hill End, New South Wales. This marks a significant advancement as the company transitions from conventional airleg mining to mechanised longhole open stoping, aimed at reducing dilution and increasing ore grade. The trial stope, targeting the high-grade Mica 1 lens, has successfully completed its first production firing with visible gold reported in high-grade quartz. This initiative is anticipated to enhance productivity, decrease costs, and improve the quality of ore delivered to the processing plant. Although development has faced delays due to challenging ground conditions, the undertaking represents a pivotal shift in mining operations at Reward, supporting Vertex's strategic focus on high-grade, narrow vein mining.
Key Points
  • Commencement of stope mining at Reward Gold Mine.
  • Transition from airleg to mechanised longhole open stoping.
  • Successful first production firing at the Mica 1 lens.
  • High-grade quartz with visible gold observed.
  • Aim to reduce dilution and increase ore quality.
  • Development delays due to poor ground conditions.
  • Enhanced productivity and reduced costs expected.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.