Horizon Metals First Ore Processing Update
Horizon Minerals (ASX: HRZ)
Provided an update on the development of the Phillips Find and Boorara Gold Projects.
Toll processing has occurred at both Phillip’s Find and Boorara, further percels are now being stacked.
.
Photo courtesy of Horizon Minerals
.
.
| Horizon Minerals | ASX: HRZ | |
| Stage | Development, Production | |
| Metals | Gold,Nickel, Cobalt | |
| Market cap | A$110 million @ A$0.70 | |
| Location | Kalgoorlie, Western Australia | |
| Website | www.horizonminerals.com.au/ |
.
Horizon Metals banks $12.9 Million From First Ore
Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to provide an update on the development of the Phillips Find (“Phillips Find”) and Boorara (“Boorara”) Gold Projects.
The first ore parcel from Phillips Find consisted of 37,624 dry tonnes at 1.46g/t for 1,675.3oz at an average price of $4,728/oz, generating ~$7.9M. In addition, the First ore stockpile from Boorara was 50,604 dry tonnes at 0.791g/t for 1,163 oz sold at an average gold price of $4,256/oz, generating ~$4.951M.
HIGHLIGHTS
New Toll Treatment Agreement for processing Phillips Find ore
• Completion of processing of the first 37,000t of ore from the Phillips Find JV with BML
Ventures Pty Ltd (BML) under the 200,000t Toll Milling Agreement with FMR Investments Pty Ltd (FMR) to treat Horizon ore from February to June 2025 at the Greenfields Mill 1
• First ore parcel from Phillips Find consisted of 37,624 dry tonnes at 1.46g/t for 1,675.3oz at an average price of $4,728/oz, generating ~$7.9M to the Phillips Find JV
• An additional 80,000t of ore from Phillips Find will be processed at the Greenfields Mill in both April and June in addition to approximately 80,000t of ore to be processes from Boorara to complete the Toll Processing Agreement with FMR.
• A New Toll Milling Agreement executed to treat 70,000t of ore from Phillips Find in
September/October 2025 to be processed at Focus Minerals Limited’s (Focus) Three Mile Hill processing plant
• Grade control drilling completed at Phillips Find and has resulted in a revised schedule where the final 70,000t ore mined in the current campaign is treated at Three Mile Hill
Mining, haulage and processing progressing well at Boorara
• Proceeds received from the processing of the first 50,604t of Boorara ore under the Ore Sale Agreement with Norton Gold Fields’ Paddington Mill for the processing of total of 1.24Mt of Boorara ore 2
• First ore stockpile from Boorara was 50,604 dry tonnes at 0.791g/t for 1,163 oz sold at an average gold price of $4,256/oz, generating ~$4.951M in revenue
• The second ore parcel is currently being processed at Paddington with a third parcel is in the process of being hauled. More than 100,000t of high-grade ore is currently stockpiled on the Boorara ROM pad, allowing for the additional campaigns to be processed at the Greenfields Mill in April and June
• Boorara is now operating at steady state ore production
.
Commenting on the mining progress, MD and CEO Mr Grant Haywood said:
“Following on from our first gold pour for Boorara in January, we have now built up significant ore stockpiles, with mining now in steady state operation and in a position for the continuous processing of ore and cashflow generation which will continue well into 2026.
“We are also pleased to secure a new toll treatment agreement with Focus Minerals which aligns with the revised mining schedule at Phillips Find and allows us to increase our overall gold production from Boorara.
“As gold production ramps up in the June quarter we expect to commence a steady cash build from our dual mining and haulage operations.”
.
To read the full news release please click HERE
..
The live gold price can be found HERE
.
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
Disclosure
At the time of writing the author holds shares in Horizon Minerals.
.