Announcement Date: 2022-10-31
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Vertex Minerals Ltd.
Project name: Hill End
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 24m at 2.8g/t Au from 74m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The Company has received its first assay results from the 1,500m diamond drill program at Red Hill. Drilling is being completed by specialist contractor “The Drillers” under the supervision of the Company’s own geologists. The location of the first three holes is shown in Figure 1 while drill hole sections are illustrated in Figures 2, 3 and 4. The results confirm historic drilling at Red Hill (see Figure 2) and has identified mineralisation at surface (Figure 3). Importantly the new information is providing data on resource extensions as shown in Figure 4. The mineralisation demonstrates significant widths from surface which the Company believes is amenable to open pit mining techniques. The Red Hill drill program aims to increase the mineral resource within 75m of surface, which will provide the foundation of a low-risk production plan to restart processing operations at Hill End. The planned 1,500m diamond core drill program is targeting the stockwork and halo zones that have the greatest potential to add significant tonnage to the resource whilst improving amenability to bulk mining methods.
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