Horizon’s first gold pour heads for shipment

The company began processing first ore last week ahead of shipment on Thursday (July 23), allowing it to generate first revenue from gold before the end of the month.

The dore bullion will be shipped to the Perth Mint for refining and sales.

Horizon now has monthly milling campaigns scheduled through to January next year, with plans to treat 159,000 tonnes of ore grading 1.86 grams per tonne for 8700 ounces recovered.

This will generate about $7 million in cash, per the current gold prices.

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

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

Horizon commenced mining in the Regal East pit at the Boorara mine in early May, which will continue to be mined concurrently with the Regal West pit to enable efficient cycling of production, drill and blast activities.

Since then, Horizon has moved a total of 376,000 bank cubic metres with approximately 90,000 tonnes of oxide and transitional ore mined at a fully diluted grade of 1.5 grams per tonne of gold.

This is in line with Horizon’s reserve estimates for the upper areas of the pits.