Horizon completes third gold milling campaign at Boorara venture

HORIZON Minerals has netted A$3.6 million from the latest toll treating of ore from its Boorara project near Kalgoorlie in Western Australia.
Horizon completes third gold milling campaign at Boorara venture Horizon completes third gold milling campaign at Boorara venture Horizon completes third gold milling campaign at Boorara venture Horizon completes third gold milling campaign at Boorara venture Horizon completes third gold milling campaign at Boorara venture

Horizon at Boorara, WA

Horizon said cash at bank had increased to $17 million after the latest campaign yielded 2491 ounces, with the company having started the current quarter with $17.4 million.

A final milling campaign is due to start mid-January, after which a full production and cost reconciliation will be completed.

Horizon is trial mining at Boorara to confirm if the large, low-grade resource - 16.45 million tonnes grading 0.97 grams per tonne - has the potential to provide base load feed to a planned mill development that would also be fed by high-grade supplementary pits from elsewhere in the region.

An updated resource post-trial mining/milling is flagged for release in the first quarter of next year.

Horizon aims to complete a definitive feasibility study in the first half of 2021, and to begin gold production in 2022.

Shares in Horizon were down 5% to 10c in afternoon trade, capitalising the company at $57 million.