Moving towards a new horizon to become Western Australia’s next standalone gold producer.
Horizon Minerals Limited (ASX: HRZ) is an emerging mid-tier gold producer with an extensive portfolio of highly prospective gold projects located in the heart of the world class Western Australian goldfields.
The Company was formed in June 2019 after Intermin Resources Limited finalised its merger with MacPhersons Resources Limited. The merged entity has a large resource base of 1.15 million ounces of gold covering a total area of 1,100km², growth options in multiple commodities and a clear development and production strategy.
Horizon’s asset base holds 562,000oz of existing estimated gold Mineral Resources located within easy trucking distance of the 507,000oz Boorara deposit, which has approvals in place for open pit mine development and the construction of a new processing facility.
The large scale Boorara gold project, located 10km east of Kalgoorlie-Boulder, has the ability to provide significant baseload feed for a standalone plant located within the Boorara tenement area. The Boorara orebody is close to surface, has low strip ratios and has excellent metallurgy with high gravity recovery and high overall recoveries of +90% at a coarse grind of 180 microns.
Horizon Minerals Limited intends to commence a Feasibility Study in late 2019 with a development decision to follow in 2020. The aim of the study will be to develop a four to five year mine plan supporting a standalone carbon-in-leach (CIL) processing facility, avoiding the use of third-party toll mills in the area which will increase margin and operating flexibility.
Horizon holds a significant portfolio of advanced and greenfields exploration assets and is expected to continue to aggressively explore for resource extensions to existing mineralisation, new discoveries and review further acquisitions within the goldfield region that can add value and fit with the development strategy.
The Company also has exposure to significant growth opportunities across other commodities including the world-class 2.6Bt Richmond vanadium project in central Queensland and the Nimbus silver-zinc-gold project.