### Expanding Exploration Efforts
Vertex plans to conduct diamond drill programs utilizing the newly acquired LM90 rig to target various areas, including below the current JORC-2012 Reward Resource, the Fosters Exploration Target, and the South Star prospect area. This expanded exploration initiative aims to uncover additional high-grade gold deposits within the Reward mine.
### Strategically Targeted Drill Works
The decision to acquire the LM90 rig followed a comprehensive review of the mineralization potential below the Reward resource. This area, known as the ‘Reward mid depths’, has only been drilled up to 50 meters below the Amalgamated Adit, presenting a valuable opportunity for further exploration and discovery. By commissioning the LM90 rig, Vertex is set to undertake eight drill holes targeting the high-grade Fosters Exploration target.
### Benefits of the LM90 Rig
The LM90 rig offers several advantages that align with Vertex’s exploration goals. Notably, its ability to work both on surface and underground, along with features like safe semi-automated operation and greater drilling flexibility, make it an ideal asset for Vertex’s operations. Additionally, by acquiring their own rig, Vertex can significantly reduce per-meter drill costs compared to hiring external contractors, providing greater control and precision in their exploration efforts.
### Insights on the LM90 Rig Features
– **Reversible Feed Cylinder:** Enhances up-hole drilling capacity.
– **Semi-automated Rod Handling:** Improves the safety and ease of rod handling.
– **High Torque Breakout:** Automates the process of breaking rod joints.
– **Fail-safe Rod Clamp:** Ensures failsafe operation with hydraulic open and spring close mechanisms.
– **Load Sensing Hydraulics:** Maximizes efficiency and reduces heat during drilling operations.
– **Proportional Controls:** Offers optimum control over drilling speed and feed.
– **Direct Coupled Feed Frame:** Results in lower maintenance and smoother feed transmission.
### Unlocking Potential Value
Executive Chairman, Roger Jackson, expressed enthusiasm about the LM90 acquisition, highlighting its cost-effectiveness, safety benefits, and practicality for underground drilling at the Reward mine. With a robust framework of priority drill targets in place, Vertex aims to unlock significant value from the project through targeted exploration efforts.
### Industry Standing and Project Overview
The LM90 rig’s industry reputation for safety and reliability further underscores its suitability for Vertex’s operations. Combined with a Mineral Resource Estimate for the Reward gold deposit at Hill End totaling 225,200oz Au, Vertex Minerals Limited remains poised to advance the commercial production of gold from its projects in NSW with a commitment to ethical and sustainable practices.
### About Vertex Minerals Limited
Vertex Minerals Limited (ASX:VTX) is an Australian-based gold exploration company focusing on its Hargraves and Hill End gold projects in Central West NSW. With additional assets in the Eastern Goldfields of WA, Vertex aims to drive gold production while prioritizing ethical and environmentally sustainable practices.
Source: Vertex Minerals Limited
By delving into the features of the LM90 rig and the strategic implications of its acquisition, Vertex Minerals Limited is paving the way for enhanced exploration activities at the Reward gold mine. The versatility and efficiency of the rig, coupled with Vertex’s targeted drill plans, position the company well to capitalize on the untapped potential of their mining projects. As Vertex continues to prioritize safety, cost-effectiveness, and precision in their operations, the outlook for unlocking significant value from the Reward mine remains promising.
