Horizon Minerals Limited (ASX:HRZ) First Ore Processing From Boorara Underway

Horizon Minerals Limited (ASX:HRZ) is pleased to provide an update on mining and ore processing from the first stage of the Boorara Gold Mine, 10km east of Kalgoorlie-Boulder in the goldfields of Western Australia.

Mining commenced at Boorara on 6 May 2020 with first ore mining occurring shortly thereafter from the Regal East pit. Both the Regal East and Regal West pits are being mined concurrently to enable efficient cycling of mining production and drill and blast activities. Mining of the Crown Jewel pit has commenced providing a further dig location as the Regal pits advance.

To date, a total movement of 357,000 BCM has been mined with approximately 80,000 tonnes of oxide and transitional ore mined at a fully diluted grade of 1.5g/t Au, in line with the reserve model estimates for the upper areas of the pits. Ore haulage from the run of mine pad at Boorara continues to the Lakewood Mill, located 7km east of Boorara with 32,000t currently stockpiled for processing.

Ore processing has now commenced at the Lakewood Mill with the dedicated milling campaign treating approximately 25,000t of ore over a two week period from the Regal East pit enabling detailed mine to mill grade reconciliations. Regular monthly ore processing campaigns are scheduled through to January 2021 under the supervision of Horizon metallurgists.

First gold production and revenue is expected in coming weeks.

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About Horizon Minerals Limited

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

 

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