Horizon Minerals is continuing to transition into a gold producer at the Boorara gold project in Western Australia, having completed trial mining six weeks ahead of schedule.
The trial saw Horizon mine a total of 267,000 tonnes of ore at a mine claimed grade of 1.23 grams per tonne of gold for 10,560 ounces mined.
This grade is 25 per cent above the global resource model grade of 0.97 grams per tonne of gold.
The second Boorara milling campaign at Lakewood Mill processed back to back ore from the Regal West and Regal East pits totalling 46,700 tonnes with an “excellent” gold recovery of 95.11 per cent.
While Regal East’s grade of 1.40 grams per tonne of gold was improved, Regal West was slightly below the modelled grade of 1.32 grams per tonne.
The total gold production of 1845 fine ounces generated $4.9 million in revenue, taking advantage of current gold prices, with an average sale price of $2654 per ounce of the precious metal.
Horizon managing director Jon Price was pleased that the company completed the trial ahead of schedule and safely during the COVID-19 pandemic.
“The site operations team and our local contracting partners have done a fantastic job completing mining well ahead of schedule with an excellent approach to managing operations through the COVID-19 pandemic,” Price said.
“As we approach the half-way mark of toll milling, the results continue to demonstrate the tonnage and grade uplift potential when compared to the current global resource model and we look forward to the completion of milling and updating the resource model in the March quarter (of) 2021.”
Upon completion of the toll milling and mine to mill reconciliations, Horizon will compile an updated mineral resource estimate for Boorara.
Horizon is now focussed on final pit mapping and reviewing geological data for this new mineral resource, which will outline the future of the operation.
The company will continue haulage of the remaining high grade stockpiles until next December with the remaining low grade stockpiles to stay on-site for treatment at the proposed Boorara mill.