ASX-listed Native Mineral Resources (NMR) is accelerating its efforts to restart gold production at its newly acquired project near Charters Towers in Queensland.

Earlier this month, NMR entered into a binding agreement to acquire the Far Fanning and BlackJack gold deposits, the BlackJack processing plant, and associated assets for A$18.9-million. This acquisition provides NMR with an accelerated path to production, along with substantial resource growth potential.

Following recent selective sampling of stockpiles at the Far Fanning deposit, which returned results of up to 85.1 g/t gold and 45 samples assaying greater than 0.5 g/t gold, NMR has initiated drilling at Far Fanning. The goal is to upgrade the deposit’s inferred mineral resource estimate (MRE) of 2.3-million tonnes at 1.84 g/t gold for 138 000 oz of gold to indicated status. NMR has engaged Mining Associates to oversee the drilling programme, providing guidance on drilling locations and strategy.

In addition to drilling, NMR is continuing its sampling programme at Far Fanning, having collected 75 samples to date that demonstrate gold mineralisation. About 220 000 t of stockpiled material are awaiting further sampling and processing.

“Since announcing our acquisition of this project in early November and following completion of the placement last week, we are accelerating our work as we look to leverage the advanced status of the Far Fanning and BlackJack projects to transform the company into an emerging Queensland gold producer in 2025,” said NMR MD Blake Cannavo.

Cannavo emphasised that the stockpiled material at Far Fanning, coupled with the existing Joint Ore Reserves Committee 2012 MRE, provides a strong foundation for the company’s production ambitions. “While completing drilling that aims to upgrade the confidence in the MRE, we are also sampling stockpiled material onsite, which will then be crushed, screened and sorted, and has potential to be processed at BlackJack processing plant,” he said.

NMR is also conducting a comprehensive assessment of the infrastructure at the BlackJack processing plant, including the plant and buildings, to determine whether refurbishment or replacement is required to support the company's gold production objectives. Far Fanning's infill drilling is expected to be completed by early 2025, and an updated MRE will be released once results are available.