Native Mineral Resources Hits Third Straight Weekly Smelt at 501oz Blackjack Gold
Key Takeaways
- NMR completed its third consecutive weekly smelt at Blackjack on 15 September 2026, producing 501.0oz of doré across two bars — BJM095 (elution, 330.6oz) and BJM096 (gravity, 170.35oz).
- Official refinery results for BJM093 from the 8 September smelt confirmed 109.9oz gold and 137.4oz silver from a bar assaying 39.68% Au and 49.63% Ag.
- Cumulative confirmed gold outturn across all periods now stands at 5,270.5oz from a total smelt weight of 14,797.3oz, with additional results for BJM094 and BJM095–096 still pending.
- The weekly smelting cadence follows NMR's record August 2026 result of 1,080.5oz refined gold — the strongest single-month output the operation has delivered to date.
- Near-term news flow includes official refinery results for BJM094 and BJM095–096, expected to be reported together next week.
Third consecutive weekly smelt delivers 501oz doré at Blackjack
Native Mineral Resources Holdings Limited (ASX: NMR) completed its third consecutive weekly smelt at the Blackjack Gold Operations on 15 September 2026, producing 501.0oz (15.58kg) of doré from bars BJM095 and BJM096.
The smelt comprised two separate circuits: BJM095 (elution) contributing 330.6oz and BJM096 (gravity) contributing 170.35oz. This result continues the production cadence NMR established following its record 1,080.5oz refined gold outturn achieved in August 2026.
NMR’s strongest processing month to that point was August 2026, when the operation delivered the record 1,080.5oz refined gold outturn that set the benchmark the September weekly smelts are now building on.
Blake Cannavo, Managing Director & CEO, NMR
“The latest 501-ounce doré smelt continues the consistent production momentum we are building at Blackjack following our record August gold result. With weekly smelting continuing and refinery results progressively being received, we remain focused on maintaining production and increasing gold output from the Blackjack Operations.”
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Production track record at a glance
Official refinery results have now been confirmed for BJM093, produced from the 8 September 2026 smelt. That bar returned an official received weight of 276.8oz, with assays of 39.68% Au and 49.63% Ag, representing an outturn of 109.9oz gold and 137.4oz silver.
Results for BJM094 (the second bar from the 8 September smelt) remain pending. NMR expects to report BJM094 results together with the official refinery results for BJM095–096 next week.
Across all periods to date, total smelt weight stands at 14,797.3oz, with confirmed gold outturn of 5,270.5oz and confirmed silver outturn of 6,503.8oz.
| Smelt Period | Doré Bar # | Smelt Weight (oz) | Official Gold Outturn (oz) | Official Silver Outturn (oz) |
|---|---|---|---|---|
| Q1 FY26 | BJM001–013 | 1,483.4 | 696.4 | 445.6 |
| Q2 FY26 | BJM014–025 | 1,547.2 | 929.4 | 302.2 |
| Q3 FY26 | BJM026–048 | 4,712.0 | 667.6 | 3,541.8 |
| Q4 FY26 | BJM049–072 | 2,556.5 | 1,268.2 | 882.5 |
| Jul-26 | BJM073–078 | 675.9 | 326.6 | 187.5 |
| Aug-26 | BJM079–090 | 2,576.6 | 1,080.5 | 838.8 |
| 1-Sep-26 | BJM091–092 | 403.8 | 192.0 | 168.0 |
| 8-Sep-26 | BJM093 | 278.6 | 109.9 | 137.4 |
| 8-Sep-26 | BJM094 | 62.3 | Pending | Pending |
| 15-Sep-26 | BJM095–096 | 501.0 | Pending | Pending |
| Total | 14,797.3 | 5,270.5 | 6,503.8 |
What doré production means for gold investors
Doré is a semi-pure alloy of gold and silver that is smelted on-site at a mining operation before being sent to a refinery for final processing and assay. Producing doré on-site is a sign that a gold operation has reached a meaningful stage of output — ore is being processed all the way through to a saleable metal form, rather than simply stockpiled or shipped as concentrate.
The two circuits NMR is running at Blackjack reflect different stages of gold recovery. The elution circuit strips gold from activated carbon that has absorbed it during the leaching process. The gravity circuit captures coarser, free gold earlier in the processing flow using physical separation. Running both simultaneously means the operation is capturing gold at multiple points in the processing chain, which generally improves overall recovery rates.
There is a natural lag between the smelt weight NMR reports and the official gold outturn figure. After a doré bar leaves the mine, the refinery weighs it precisely, assays the metal content (measuring the percentage of gold and silver in the alloy), and calculates the actual gold and silver ounces recovered. The assay percentage tells you how pure the bar is. BJM093, for instance, returned 39.68% Au, meaning roughly two-fifths of that bar’s weight was gold. The official outturn of 109.9oz reflects that assayed gold content applied to the bar’s confirmed weight of 276.8oz.
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What’s next for NMR at Blackjack
Near-term news flow from the Blackjack Operations is expected to include:
- Official refinery results for BJM094 and BJM095–096, anticipated next week
- Continuation of the weekly smelting cadence currently underway
- Company focus on maintaining production and increasing gold output, as outlined in CEO commentary
From the Q1 FY26 baseline through to the August 2026 record and the current weekly rhythm, NMR’s production trajectory at Blackjack has been building steadily. The confirmed gold outturn of 5,270.5oz across all periods to date, with additional results still pending, reflects an operation that has moved well beyond early-stage milestones into a consistent production cycle.
For investors exploring how NMR has funded and structured the operational scale-up at Blackjack, our detailed coverage of NMR’s strategic investment in Queensland gold examines the capital allocation decisions and production expansion strategy behind the current output cadence.
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