The Boorara project is located approximately 10km east of the Kalgoorlie’s Super Pit gold mine on the eastern edge of the city of Kalgoorlie-Boulder, Western Australia. Horizon is progressing its mining operations at Boorara from which the first gold bar was poured during January 2025.
Horizon approved the development of the Boorara project during July 2024 with a plan to mine a series of four open pits containing 1.24Mt at 1.24g/t Au for 49.5koz of gold. Mining services and surface ore haulage contracts were awarded to Hampton Transport Services Pty Ltd and Horizon commenced mining operations during August 2024 with the first ore being mined in late September 2024.
Ore mined from Boorara is being processed through the Norton Gold Fields’ Paddington mill via a Binding Ore Sale Agreement. Paddington is located approximately 56km by road from Boorara.
Mining is anticipated to occur over a 14-month period and processing over 19 months.
First stockpile of 54,604 dmt @ 0.8g/t Au was hauled to the Paddington Mill over December 2024 and January 2025. First gold pour from the Boorara Project was achieved on 14 January 2025.
Project economics announced during July 2024 projected that $30m of free cashflow would be generated based on a A$3,600/oz gold price. Today’s gold price is over A$4,700/oz which is well in excess of the original assumption.
The Boorara deposit has a JORC 2012 Mineral Resource Estimate of 10.53Mt at grade of 1.27g/t gold for 428koz of gold at a 0.5g/t Au cut-off grade.