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Horizon Minerals processes first Boorara ore with first gold expected next week

Mining and ore haulage remains well ahead of schedule with 32,000 tonnes stockpiled for processing at the Lakewood Toll Mill and first gold revenue is expected in coming weeks.

Horizon Minerals Ltd - Horizon Minerals processes first ore from its Boorara Gold Mine
First Boorara ore being fed into the Lakewood Mill

Horizon Minerals Ltd (ASX:HRZ) has processed first ore from the Boorara Gold Mine in Western Australia with first gold expected to be poured next week.

Mining commenced at Boorara on May 6, 2020, with both the Regal East and Regal West being mined concurrently to enable efficient cycling of mining production and drill and blast activities.

Mining of the Crown Jewel pit has also commenced providing a further dig location as the Regal pits advance.

Dedicated milling campaign

Ore processing has now commenced at the Lakewood Mill with the dedicated milling campaign treating around 25,000 tonnes of ore over a two-week period from the Regal East pit enabling detailed mine to mill grade reconciliations.

To date, a total movement of 357,000 billion cubic metres has been mined with around 80,000 tonnes of oxide and transitional ore mined at a fully diluted grade of 1.5 g/t gold, in line with the reserve model estimates for the upper areas of the Regal West and Regal East pits.

First gold expected

With the first milling campaign underway at the Lakewood Mill, the first gold pour is expected next week and regular campaigns are scheduled through to January 2021.

Horizon managing director Jon Price said: “We are extremely pleased with progress at Boorara and now commencing the first milling campaign at Lakewood producing first gold next week and revenue shortly thereafter.

“Along with capitalising on the strong current gold price, the stage one development of Boorara will provide mine to mill reconciliation outcomes to de-risk the larger-scale development plan.”

The first stage of Boorara comprises 159,000 tonnes grading 1.86 g/t and 92% recovery for 8,700 ounces.

At current gold prices and with all in costs of A$1,640 A$1,690 per ounce, this is expected to generate around $7 million in cash through the March quarter 2021.

Quick facts: Horizon Minerals Ltd

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Market: ASX
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Horizon Minerals completes trial mining at Boorara Gold Mine

Horizon Minerals Ltd (ASX:HRZ) managing director Jon Price speaks to Proactive about the completion of trial mining at the Boorara Gold Mine in WA’s Goldfields. The company also completed its second toll milling campaign at the Lakewood Mill, around 7 kilometres to the east. Price said...

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