First gold from Comet Vale

Orminex has poured first gold from its 51%-owned Comet Vale project in the Goldfields region of Western Australia
First gold from Comet Vale First gold from Comet Vale First gold from Comet Vale First gold from Comet Vale First gold from Comet Vale

Daryl Henthorn (left), Wayne McGrath (middle) and Ross Graham (right) with the first gold bar poured

Staff Reporter

PRESS RELEASE: The gold pour, from the first toll treatment campaign at the Burbanks Mill of 202oz, comes from additional ore which did not form part of the current mine plan.

On site for the first gold pour was Orminex executive chairman Daryl Henthorn; Wayne McGrath, executive chairman of Wyllie Group who is a cornerstone investor in Orminex; and Ross Graham, director of GBF Underground Mining, Orminex's strategic alliance partner.

The gold pour was followed by an underground mining inspection.

Henthorn commented: "The first gold pour is a significant milestone for Orminex. It has been less than four months since we listed, and we've already commenced mining and have now poured our first gold. It demonstrates how our mineral ventures model can unlock value in the gold sector with its access to capital and mining services.

"This is a scalable and repeatable model, and I am looking forward to the next stage of growth for Orminex.

"Development is now down to the 2.5 level, which is expected to provide access to historic high-grade ore drives. We were pleased to have our cornerstone investor Wyllie Group on site to view and inspect our underground operations."

The decline development has advanced to 210m, with total development at 600m, and Orminex's focus is on ore production and further decline development to the 3 level to access high-grade ore drives. Mining at the operation continues 24 hours a day.