| Announcement Date: | 2022-11-14 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Vertex Minerals Ltd. |
| Project name: | Red Hill |
| 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 fourth hole 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 VRHD003 shown in Figure 1 while drill hole section is illustrated in Figure 2. 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. The Red Hill Mineral Resource forms approximately 1km of the 14km strike length at the Hill End Gold Project. The project has seen extensive historical mining, however, most of the previous workings were impeded by a high-water table. Consequently, the old workings at Red Hill are relatively shallow when compared to other areas of Hill End. Work completed in 2015 by Hill End Gold Limited (‘HEG’) culminated in a JORC 2012 resource estimate at the Red Hill Resource of 80,000 oz Au at 1.7 g/t to 150m depth. The Mineral Resource estimate for the entire Hill End Project is summarised in Table 1. |
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