Name of the Project
Boorara gold project – Stage 1.

Location
The project is located 10 km east of Kalgoorlie-Boulder, in the Western Australia 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 Stage 1 openpit operation, which is based on the development of the Regal and Crown Jewel deposits, is expected to produce 159 000 t of ore, producing

9 500 oz of gold 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.

Ore from the openpit operation will be toll-milled at Golden Mile Milling’s one-million-tonne-a-year Lakewood mill, which is located about 7 km from the Boorara operation. The ore will be processed in monthly campaigns under Horizon’s supervision to allow for mill-grade reconciliation data to be compared against the reserve and resource models.

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 first ore from the Boorara gold mine is being processed by a milling campaign through the Lakewood Mill.

First gold pour is expected shortly and regular milling campaigns are scheduled until January 2021.

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