Australia

Horizon Minerals aims to commence and grow gold production this year

Horizon Minerals Ltd (ASX:HRZ) is focussed on developing its 850-square kilometre portfolio of gold projects in the Western Australian goldfields.

The objective is to focus on developing the Boorara Gold Project and expanding production via satellite deposits within trucking distance to a centralised processing facility.

JORC update pending followed by mining

Notably, an extensive 18,000-metre grade control drilling program was completed at Boorara in December 2019 with the results expected in the coming weeks.

Results will be used to update the JORC resource estimate, which is expected in the June quarter 2020.

Horizon then plans to commence mining three starter pits in the June quarter and process the ore at a third party toll mill by the September quarter 2020.

Plan is to move into production and generate cash flow

Horizons managing director Jon Price said: “The company has now reset its immediate growth plan while maintaining our overriding objective of building an emerging mid-tier gold business centred in the heart of the West Australian goldfields.

“This strategy is centred around the exciting Boorara Gold Project and existing satellite projects in close proximity.

“We now look forward to delivering on our promises, moving into production, generating cash to support our strategy, growing our resource base and building a lRead More – Source