Horizon Minerals (ASX:HRZ) achieves first gold pour at Boorara

• Horizon Minerals (HRZ) has achieved its first gold production at the Boorara Gold Mine in Western Australia
• The first ore processing campaign began on July 17 and first gold was poured on July 23
• Additionally, the first shipment and revenue are expected by the end of the month
• Gold grades have returned 1.5 grammes per tonne which are in line with reserve model estimates
• Horizon’s shares are currently steady and trading for 14.5 cents each

Horizon Minerals (HRZ) has achieved first gold production at the Boorara Gold Mine in Western Australia.

The first ore processing campaign began on July 17 and first gold was poured on July 23. Additionally, first shipment and revenue is expected by the end of the month.

Boorara is located 10 kilometres east of Kalgoorlie’s Super Pit gold mine and it contains over 1.5 kilometres of gold mineralisation.

It has a JORC 2012 mineral resource estimate of 16.45 million tonnes at 0.96g/t gold for 507,000 ounces.

Mining restarted at Boorara on May 5 and first ore mining began at the Regal East pit shortly after.

In addition, the Regal East and Regal West pits will be mined simultaneously to enable efficient cycling of mining production as well as drill and blast activities.

Mining of the Crown Jewel pit has already begun to provide an alternative location.

To date, a total of 376,000 bank cubic metres (BCM) has been mined with approximately 90,000 tonnes of oxide and ore mined at a grade of 1.5g/t gold.

“First gold production from Boorara is an exciting milestone for the company and it is extremely pleasing to see the mine performing to expectations,” Managing Director, Jon Price said.

“The Horizon team and our contracting partners have done an excellent job to date with the Lakewood Mill running extremest well,” Jon said.

Horizon’s shares are currently steady and trading for 14.5 cents each at 2:08 pm AEST.