Horizon Minerals Ltd (ASX:HRZ) is focused on exploration upside within its 1,100 square kilometre tenement package in WA with up to four drill rigs currently operating as part of Horizon’s largest-ever 50,000-metre drilling program.
The company holds a 100% interest in gold projects in the Kalgoorlie and Coolgardie regions including the 448,000 ounces Boorara Project and 668,000 ounces in other projects.
Horizon’s project locations, regional geology and surrounding infrastructure
Horizon’s primary activities during the September quarter included the continuation of the 50,000-metre project generation and new discovery drilling program and release of results, resource modelling and mine optimisation studies as part of the consolidated feasibility study.
Horizon also pursued further regional consolidation, joint venture reviews, divestment opportunities and strengthening of the team ahead of a significant growth phase.
Mine development and operations
During the quarter, development activities focussed on Ore Reserve generation and approvals work as part of the consolidated feasibility study due for completion in the March quarter 2022.
All reserve drilling has been completed with assays now returned for resource model updates, geotechnical assessment, confirmatory metallurgical test work, mill tailings and waste characterisation, mine optimisation, design and economic analysis.
In addition, the design of a 1.5 million tonnes per annum processing plant has progressed based on a conventional three-stage crushing circuit, ball mill, high volume gravity circuit and conventional Carbon-In-Leach (CIL) circuit.
Process design criteria, Process Flow Diagrams (PFDs) and general arrangement drawings are well advanced and will be released along with confirmatory metallurgical test work results in the current December quarter 2021.
Power, water, tailings management studies and statutory and environmental approvals all progressed during the quarter in line with the Ore Reserve work.
In total, six core open pit and underground projects are under evaluation with their status summarised below:
- Rose Hill – MRE released, open pit and underground optimisation and design underway with maiden Ore Reserves expected in the current quarter
- Boorara – MRE released, open pit mine optimisation and staged design commenced with maiden Ore Reserve expected in current quarter
- Binduli (Crake) – MRE released, open pit mine optimisation and design commenced with maiden Ore Reserve expected in current quarter
- Teal (Jacques Find and Peyes Farm) – MRE released, open pit mine optimisation and design commenced with maiden Ore Reserve expected in current quarter
- Kalpini – MRE released, open pit mine optimisation and design commenced with maiden Ore Reserve expected early in the March quarter
- Cannon – Data review complete with an updated MRE expected in the current quarter and Ore Reserve in the March quarter 2021
Resource and reserve work is being completed predominantly by independent consultants and will be released to market as they are completed.
All reserves will then be consolidated into an initial production profile and economic model for a development decision and to underpin the construction of a stand-alone centralised mill at the Boorara mine site.