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Vertex Minerals (ASX:$VTX) plans sustainable gold project at Hill End

Vertex Minerals Limited (ASX:$VTX) Pre-Feasibility Study Overview


Vertex Minerals Limited (ASX:VTX) has released the Pre-Feasibility Study (PFS) for the Reward Gold Mine in Hill End, NSW. The study demonstrates strong economics and outlines key parameters, including a pre-tax cash of $35.7 million at a gold price of $3,000/oz, average monthly gold production, and a probable ore reserve of 130kt at 9.7 g/t Au. The study is based on indicated and inferred mineral resources, with a focus on mechanized mining methods and gravity separation techniques for gold recovery. The company plans to upgrade the processing plant to increase throughput and has identified opportunities for further exploration drilling from the underground mine. The PFS also highlights the existing infrastructure and mining methods, emphasizing the potential for efficient and safe ore extraction.

Executive Commentary on Sustainable Mining and Project Funding


Vertex Minerals (ASX:VTX) is committed to developing sustainable and ethical gold projects, as demonstrated by the Pre-Feasibility Study for the Reward Gold Mine. The study outlines our focus on responsible gold production, community engagement, and environmental stewardship. We are actively seeking project financing for the development of our projects, with a positive PFS supporting the economic viability of the Reward Gold Mine. Our commitment to sustainability and responsible mining practices is integral to our corporate strategy and long-term vision for the company.

Outlook and Strategic Approach


Vertex Minerals Limited (ASX:VTX) is planning to extract remnant and unexploited resources from the Reward deposit while optimizing the use of existing infrastructures. The proposed mine design includes upgrading the current drive profile, establishing new infrastructure, and implementing a stope extraction strategy. The company has outlined plans for security gates, offices, administration, store, workshop, washdown bay, communications, power and fuel facilities, tailings storage facility, and minerals processing. The project's financial results, personnel requirements, timeline, permitting and approvals, and environmental and social values have also been detailed. Vertex Minerals is committed to building legitimate Environmental, Social, Governance (ESG) credentials and has commenced ESG reporting using the World Economic Forum's framework of ESG metrics. The company's sustainability efforts include a commitment to responsible gold production, community engagement, and environmental stewardship. The company's funding requirements, opportunities, and risks associated with its projects have been outlined in the announcement, providing a comprehensive overview of Vertex Minerals Limited's plans for the Reward deposit, including its mine design, infrastructure, financial projections, personnel requirements, and commitment to environmental and social responsibility.

Sourcehttps://announcements.asx.com.au/asxpdf/20240103/pdf/05z3t5rmjfxcdb.pdf

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