A total of 513,000 bank cubic metres was mined from the Regal East, Regal West and Crown Jewel trial pits in 2020, with 267,000 tonnes of ore mined at 1.3 grams per tonne of gold for 10,560 ounces.
According to the company’s activities report for the March quarter, the trial mining and toll milling has achieved average recoveries of 94.5 per cent.
Horizon has found difficulty in segregating the individual higher-grade lodes within the deposits due to limited visual control.
The company stated that all factors from the trial would be used to advance Boorara’s feasibility study.
“The trial and pit mapping were considered highly successful in providing a greater understanding of the deposits and highlighting a number of opportunities to optimise grade control practises, mining and processing,” Horizon stated.
According to Horizon, Boorara’s de-risking strategy involves bulk open pit mining and processing on-site, which eliminates haulage and toll milling costs.
“All geology, mining and processing trial information is now being incorporated into an updated independent open pit geological model for Boorara,” the company stated.
“Mine optimisation, design, approvals and mill design work are also well advanced as part of the consolidated feasibility study due for completion in the second half of 2021.”
Horizon generated $2.8 million in revenue from all gold sold during the March quarter at an average price of $2356 per ounce.
The company is continuing its exploration activities in the June quarter, while also finalising resource updates for its Teal, Kalpini, Penny’s Find and Binduli gold projects in Western Australia.