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Horizon Minerals Ltd.
Summary
| Project: | Boorara | |
|---|---|---|
| Deposit: | Boorara | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/10/2020 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 10-2-2020: Horizon Minerals Ltd. announces a Feasibility Study report for its Boorara deposit at the Boorara project. Results of the Boorara Stage 1 Feasibility Study. Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to announce | |
| Resources: | (Reserve, P+P): 159Kt @ 1.9g/t Au | |
| CP/QP: | [Resources]: Andrew Bewsher (BM Geological Services) | |
| ABSTRACT: | Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to announce the results of the Boorara Stage 1 Feasibility Study (“FS” or “Study”). The proposed mining project comprises predominantly oxide and transitional material contained within the project’s maiden Ore Reserve. The 100% owned project is located 10km east of Kalgoorlie-Boulder, adjacent to the Super Pit in the heart of the Western Australian goldfields (Figure 1). Commenting on the Boorara Stage 1 Study outcomes, Horizon Managing Director Mr Jon Price said: “The Boorara Stage 1 Feasibility Study has delivered robust economic results with strong projected cash margins and significantly reduced geological risk with grade control drilling completed ahead of a decision to mine. As with the successful Teal gold mine, the Company has taken a conservative approach to both resource estimation and mine development parameters, adopting conservative cutoff grades, dilution and ore recovery to reduce risk and underpin strong future cash generation.” “The key drivers for developing Stage 1 of Boorara are to leverage off the current high gold prices to generate cash and to de-risk the larger scale development by confirming the tonnage and grade uplift demonstrated by the infill drilling and previous mining and milling reconciliations.” | |
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