Horizon Minerals (ASX:HRZ) - Managing Director, Jon Price
Managing Director, Jon Price
Source: Horizon Minerals
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  • Horizon Minerals (HRZ) advises a second toll mining campaign is underway, treating low grade ore stockpiles from the Boorara open pit
  • The gold miner has already milled 69,700 tonnes of ore at the Lakewood toll milling facility in Kalgoorlie-Boulder
  • The toll mining returned a reconciled grade of 0.92 grams per tonne (g/t) gold for 1857 ounces at a calculated recovery of 90 per cent
  • This first campaign also generated $770,000 after costs, with the second campaign set to be completed in January
  • Horizon Minerals shares are trading at 12.5 cents each

Horizon Minerals (HRZ) advises a second toll mining campaign is underway, treating low-grade ore stockpiles from the Boorara open pit.

The open-pit is part of the company’s wider Boorara Gold Project in WA, which is located near the Lakewood toll milling facility in Kalgoorlie-Boulder.

The gold miner has already milled 69,700 tonnes of ore for a reconciled grade of 0.92 grams per tonne (g/t) gold, and 1857 ounces, at a calculated recovery of 90 per cent.

HRZ explained the ore grade reconciled was 8 per cent above the mine claimed grade and provided valuable information on the grade allocation processes.

Additionally, gravity recovery was high at 33 per cent, with reagent consumption and throughput rates in line with expectation.

Horizon Minerals walked away with $770,000 in extra cash after costs from the first campaign under its profit-sharing arrangement with the toll mill owner.

Managing Director Jon Price said he was very pleased with the results.

“Due to the location of our projects, so close to infrastructure in Kalgoorlie – Boulder, the company has been able to continue utilising toll milling to generate cash and gain further geological and metallurgical information on the Boorara orebody,” he said.

“It is extremely pleasing to see the uplift in grade from the lower grade stockpiles and reinforces our conservative approach to grade determination.

“We look forward to completing the second milling campaign and continuing to evaluate our open pit and underground projects and complete planning for the large-scale exploration program in 2022.”

The second toll mining campaign is due to wrap up in January 2022.

Horizon Minerals shares were trading at 12.5 cents each at 1:35 pm AEDT.

HRZ by the numbers
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