Tanami Gold Joint Venture Completes Portal Blasting for Groundrush Exploration Decline

Anjali Anand

11 November 2026 12:32 PM AEDT

Tanami Gold Joint Venture Completes Portal Blasting for Groundrush Exploration Decline

Image Source: Krish Capital Pty Ltd

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Tanami Gold NL (ASX:TAM), a 50% partner in the Central Tanami Project Joint Venture (CTPJV), has reached a project milestone with the completion of blasting of the Central and ventilation portals for the Groundrush Exploration Decline at the Central Tanami Project in the Northern Territory, according to a filing released by joint venture partner MGX Resources Limited on 11 November 2026.

Key Points

Blasting of the Central and ventilation portals for the Groundrush Exploration Decline has been completed at the CTPJV in the Northern Territory.
MGX Resources Limited and Tanami Gold NL each hold a 50% interest in the CTPJV, which is targeting a development decision in 2027.
Portal construction forms part of a $38 million contract with Macmahon Underground Pty Ltd, covering portal and vent establishment and an initial 3.5km of decline development to a depth of approximately 350 metres over 14 months.
The decline will provide underground access for 33,000 metres of infill resource definition drilling targeting conversion of over 400,000 ounces of Inferred mineral resources into the Indicated category.
The CTPJV's total Mineral Resource Estimate (JORC 2012) stands at 31.0 million tonnes at 2.8 grams per tonne gold for 2.8 million ounces of contained gold.

Groundrush Exploration Decline Portal Construction

The blasting of both the Central and ventilation portals at the Groundrush Exploration Decline has been completed as part of initial works under a $38 million contract with Macmahon Underground Pty Ltd, a wholly-owned subsidiary of Macmahon Holdings Limited (ASX:MAH). The contract, announced at the end of August 2026, encompasses portal and vent establishment along with the initial 3.5 kilometres of decline development to a depth of approximately 350 metres, to be completed over a period of 14 months. The CTPJV is seeking to advance the project to a development decision in 2027.

Infill Drilling Program at Groundrush Gold Deposit

The completed decline will provide underground access for a 33,000-metre infill resource definition drilling program into the Groundrush Gold Deposit. The objective of the drilling program is to convert over 400,000 ounces of mineral resources currently classified as Inferred into the higher-confidence Indicated category for mine design and development purposes. According to the filing, infill drilling is scheduled to commence during the latter stages of the decline construction period.

CTPJV Mineral Resource Estimate

The CTPJV's Mineral Resource Estimate, prepared under JORC 2012, totals 31.0 million tonnes at an average grade of 2.8 grams per tonne gold for 2.8 million ounces of contained gold. Within this total, the Groundrush Gold Deposit accounts for 11.0 million tonnes at 3.3 grams per tonne gold for 1.2 million ounces of gold. The resource estimate was previously detailed in an MGX release dated 15 October 2026, titled "Mineral Resources Statement as at 30 June 2026," with the filing confirming that all material assumptions and technical parameters continue to apply.

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