Name of the Project
Boorara gold project – Stage 1.

Location
The project is located 10 km east of Kalgoorlie-Boulder, in the Western Australian goldfields.

Project Owner/s
Horizon Minerals.

Project Description
A feasibility study has indicated a financially viable project.

The proposed mining project comprises predominantly oxide and transitional material contained within the project’s maiden ore reserve.

The study envisages an openpit mine producing 159 000 t at a fully diluted grade of 1.86 g/t gold for 9 500 oz over a six-month mine life.

Mining will be conducted using conventional truck-and-shovel operations and will initially be free dig near the surface.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value of A$2.8-million.

Capital Expenditure
The project has low upfront capital costs of A$440 000.

Planned Start/End Date
Not stated.

Latest Developments
The immediate next steps are the finalisation of the mining proposal addendum and project management plan for submission to the Department of Mines, Industry Regulation and Safety.

In parallel, mining and haulage contracts will be finalised in conjunction with project financing options for board approval early in the June 2020 quarter.

Mine development is expected to start during the June quarter following board approval and subject to mobilisation of the mining fleet with the successful mining contractor.

Key Contracts and Suppliers
BM Geological Services (geology and resource estimates); Green Geotechnical (geotechnical assessment); Minecomp (mining and ore reserve); ALS Metallurgy and Bureau Veritas Minerals (metallurigical testwork); Rockwater (hydrology and hydrogeology); and Strategen-JBS&G Environmental Consultants (environmental studies).

Contact Details for Project Information
Horizon Minerals, tel +61 8 9386 9534 or email info@horizonminerals.com.au