Freshly cashed-up junior Native Mineral Resources is gearing up for an 18-hole diamond drilling program to test the mineralisation at its Blackjack gold project.

NMR will use results from program to define its development plans for the Blackjack deposit, which is one of the projects from which it plans to kick-off gold production in Q3 2025.

The company inked a deal late last year to acquire the Blackjack and Far Fanning deposits, Blackjack processing plant, and other assets in the Charters Towers region for $18.9 million.

Related: New owner ramps up Blackjack plant revamp

It recently raised $14.9 million from new and existing shareholders, including a $6.8 million investment by Maas Group Holdings managing director Wes Maas, to advance its gold production plans.

The company said a review by consultant MEC Mining had indicated the presence of anomalous mineralisation within 50m of surface at Blackjack.

“MEC Mining’s review of the historic drilling at our Blackjack deposit is an exciting step forward for NMR, highlighting anomalous near-surface mineralisation in the historic Citigold drilling,” managing director Blake Cannavo said.

“The 18-hole drill program will provide us with further insights into the economic potential of Blackjack, as we advance preparations for a strategic return to gold production in the Charters Towers region in CY2025.

“We are committed to unlocking value from our advanced gold assets and executing our growth strategy.”

The 18 holes will be near Blackjack’s three existing oxide pits, which were mined for oxide material in the 1980s, with the deepest pit only 25m deep.

NMR is also planning a lift to the height of Blackjack’s tailings storage facility using material from former owner Citigold’s proposed pit (image right).

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