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Horizon Minerals Ltd (ASX:HRZ) has achieved its first gold pour from the Boorara project in Western Australia, whose development it signed off on halfway through 2024, and whose ore is being processed through Norton Goldfields’ Paddington Mill.
Horizon approved the development of Boorara in July 2024, aiming to mine from four open pits holding 1.24 million tonnes of ore at 1.24 grams per tonne for 49.5,000 ounces of gold.
To facilitate the processing, it entered an Ore Sale Agreement with Norton for the same amount of ore to be put through Paddington for 18 months.
This led to the first stockpile of 56 wet metric tonnes (wmt) being hauled to the mill in December 2024 and January 2025, and the production of a first gold bar.
However, a lack of dust suppression via water trucks (which have now been repaired) has caused some delays in the open pit mining schedule.
Horizon managing director and CEO Grant Haywood said the company was delighted to be Australia’s newest gold producer for 2025.
“We have a Mineral Resource of 1.8Moz across our projects and developing a sustainable gold production pipeline which includes numerous projects that are ready for a Final Investment Decision, such as Penny’s Find and the Cannon projects,” he said.
“With the cashflow, we expect to generate from Boorara and our other advanced projects, we will seek to use this production pipeline to feed a refurbished Black Swan mill
after completion of our proposed merger with Poseidon Nickel Limited.”
Horizon has been trading at 4.7 cents.
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