# NMR: Quarterly Activities Report Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03152636 Publisher: asx Original announcement: 2026-10-14T21:25:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-14T22:12:18.972Z Atlas analysis updated: 2026-10-14T22:12:18.972Z - Company: Native Mineral Resources Holdings Limited - Ticker: NMR - Exchange: ASX - Region: North Queensland - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Production, Capital raise, Drill results, Resource update - Extracted: 2026-10-14 22:12:19 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Native Mineral Resources Holdings Limited reported a record quarter for gold production at its Charters Towers Gold Project, achieving its first positive quarterly operating cash flow. The Blackjack Processing Plant delivered record gold output, head grade, and plant availability. Additionally, new drilling at Blackjack North Pit returned strong gold intercepts, and the company secured an A$18 million refinancing package to strengthen its liquidity. Reasoning: The company reported a record quarter for gold production, head grade, and plant availability, leading to its first positive operating cash flow. New drilling at Blackjack North Pit yielded strong gold intercepts, and a significant refinancing deal was completed, all contributing to a highly positive outlook. - Positive factor: Record gold output and head grade achieved at Blackjack Processing Plant - Positive factor: First positive quarterly operating cash flow in company history - Positive factor: Strong drill intercepts reported from Blackjack North Pit - Positive factor: Successful refinancing strengthens liquidity and removes significant debt repayments - Positive factor: High plant availability and utilization demonstrate operational efficiency Facts used in scoring: 23 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 2m @ 26.02g/t Au is well above the exceptional threshold for gold. Evidence · text > incl. 2m @ 26.02g/t Au from 48m **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The report explicitly states that the exploration results are based on information collated and compiled by a Competent Person and refers to JORC Code \(2012\) Table 1 and the Competent Person statement. Evidence · text > The information in this report that relates to Exploration Results for the Blackjack North Pit 2026 RC drilling is based on information collated and compiled by Mr Scott Franko, a Competent Person who is a Registered Professional Geologist with the PGO, Ontario, Canada. Mr Franko is a full-time employee of Native Mineral Resources. Mr Franko has sufficient experience that is relevant to the styles of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. **Inferred Resource** Polarity: negative Story-specific tag Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Far Fanning resource is explicitly stated as an 'Inferred Mineral Resource'. Evidence · text > Far Fanning ... hosts a JORC 2012 Inferred Mineral Resource of 2.3Mt @ 1.84g/t Au for 138koz Au. **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The Far Fanning resource estimate is explicitly stated as 'Previously Reported Information' from an ASX announcement dated 8 November 2024, indicating it is not new information. Evidence · text > The information in this report that relates to the Far Fanning JORC 2012 Inferred Mineral Resource of 2.3Mt at 1.84g/t Au for 138,000 ounces is extracted from the Company’s ASX announcement dated 8 November 2024 titled “NMR acquires advanced Queensland gold projects in transformational deal”. ## Extracted facts Stored fact records: 9. Some facts used in scoring do not have a stored record. ## Drill Results (8) ### BJRC1304 [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-drill-facts-14) Blackjack North Pit · gold #### Identity - Hole ID: BJRC1304 - Project: Blackjack North Pit - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: NMR #### Geometry - Grade: 3.09 - Grade Unit: g/t - Intercept: 19 m - From: 41 m - To: 60 m - Intercept Depth: 41 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BJRC1304:41-60 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: A strong gold intercept was reported from the Blackjack North Pit, indicating significant mineralization close to existing operations, which is highly positive for future mining. - Positive factor: Strong gold mineralisation identified - Positive factor: Intercept is close to surface and adjacent to current mining activities Evidence · table > 3.09 Context: 19 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### BJRC1304 [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-drill-facts-15) Blackjack North Pit · gold #### Identity - Hole ID: BJRC1304 - Project: Blackjack North Pit - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: NMR #### Geometry - Grade: 13.79 - Grade Unit: g/t - Intercept: 4 m - From: 48 m - To: 52 m - Intercept Depth: 41 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BJRC1304:48-52 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: This sub-interval shows bonanza-grade gold, significantly enhancing the overall prospectivity of the main intercept and indicating a high-grade zone. - Positive factor: Very high-grade sub-interval - Positive factor: Bonanza grade for gold Evidence · text > 4m @ 13.79g/t Au from 48m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### BJRC1304 [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-drill-facts-16) Blackjack North Pit · gold #### Identity - Hole ID: BJRC1304 - Project: Blackjack North Pit - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: NMR #### Geometry - Grade: 26.02 - Grade Unit: g/t - Intercept: 2 m - From: 48 m - To: 50 m - Intercept Depth: 41 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BJRC1304:48-50 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: An exceptionally high-grade sub-interval was reported, representing bonanza gold grades and highlighting a very rich zone within the mineralization. - Positive factor: Exceptional bonanza grade for gold - Positive factor: Indicates a very high-grade core within the broader intercept Evidence · text > incl. 2m @ 26.02g/t Au from 48m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### BJRC1305 [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-drill-facts-17) Blackjack North Pit · gold #### Identity - Hole ID: BJRC1305 - Project: Blackjack North Pit - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: NMR #### Geometry - Grade: 1.81 - Grade Unit: g/t - Intercept: 34 m - From: 42 m - To: 76 m - Intercept Depth: 42 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BJRC1305:42-76 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: A strong and wide gold intercept was reported, indicating significant mineralization close to existing operations, which is highly positive for future mining. - Positive factor: Strong gold mineralisation over a significant width - Positive factor: Intercept is close to surface and adjacent to current mining activities Evidence · table > 1.81 Context: 34 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### BJRC1305 [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-drill-facts-18) Blackjack North Pit · gold #### Identity - Hole ID: BJRC1305 - Project: Blackjack North Pit - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: NMR #### Geometry - Grade: 4.63 - Grade Unit: g/t - Intercept: 12 m - From: 42 m - To: 54 m - Intercept Depth: 42 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BJRC1305:42-54 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: This sub-interval shows high-grade gold over a substantial width, confirming a significant mineralized zone within the broader intercept. - Positive factor: High-grade sub-interval over a good width - Positive factor: Indicates a strong mineralized zone within the broader intercept Evidence · text > 12m @ 4.63g/t Au from 42m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### BJRC1300 [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-drill-facts-19) Blackjack North Pit · gold #### Identity - Hole ID: BJRC1300 - Project: Blackjack North Pit - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: NMR #### Geometry - Grade: 1.93 - Grade Unit: g/t - Intercept: 6 m - From: 56 m - To: 62 m - Intercept Depth: 56 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BJRC1300:56-62 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: A moderate gold intercept was reported, adding to the overall positive results from the North Pit drilling program. - Positive factor: Moderate gold grade over a reasonable width Evidence · table > 1.93 Context: 6 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### BJRC1302 [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-drill-facts-20) Blackjack North Pit · gold #### Identity - Hole ID: BJRC1302 - Project: Blackjack North Pit - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: NMR #### Geometry - Grade: 0.75 - Grade Unit: g/t - Intercept: 21 m - From: 47 m - To: 68 m - Intercept Depth: 47 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BJRC1302:47-68 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: A wide intercept with gold mineralization was reported, contributing to the understanding of the North Pit's potential. - Positive factor: Gold mineralisation over a significant width Evidence · table > 0.75 Context: 21 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### BJRC1306 [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-drill-facts-21) Blackjack North Pit · gold #### Identity - Hole ID: BJRC1306 - Project: Blackjack North Pit - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: NMR #### Geometry - Grade: 0.85 - Grade Unit: g/t - Intercept: 11 m - From: 45 m - To: 56 m - Intercept Depth: 45 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BJRC1306:45-56 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: A good width of gold mineralization was reported, further supporting the prospectivity of the North Pit. - Positive factor: Gold mineralisation over a good width Evidence · table > 0.85 Context: 11 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (1) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nmr-quarterly-activities-report--77eb1635-185e-4359-bf92-fa129cf1f50b#fact-resource-facts-22) Far Fanning · gold Historical result Needs review: historical\_restatement #### Identity - Project: Far Fanning - Commodity: gold - Ticker: NMR #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:75deac66a46dd77c1351 #### Resource Data - Category: inferred - Tonnes: 2300000 - Grade: 1.84 - Grade Unit: g/t - Contained Metal: 138 - Contained Unit: koz #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-08T00:00:00.000Z #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The Far Fanning resource estimate is a historical figure, explicitly stated as previously reported, and therefore has no novelty in this document. Its Inferred category indicates early-stage confidence. - Negative factor: This is a historical estimate and not new information - Negative factor: Resource is entirely in the Inferred category, indicating lower geological confidence Evidence · text > Far Fanning ... hosts a JORC 2012 Inferred Mineral Resource of 2.3Mt @ 1.84g/t Au for 138koz Au. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.