Trial pit and processing from April 2020 (completed August...

Trial pit and processing from April 2020 (completed August 2020)


https://horizonminerals.com.au/boorara/



Below is just part of the info from the above link:

TheBoorara deposit has a JORC 2012 Mineral Resource Estimate of:

11.03Mt at 1.26 g/t gold for 448,240 oz of gold at a 0.5 g/t lower cut-off grade.

Grade Control (GC) drilling (closer spaced drilling) allows forthe complexity of the Boorara deposit to be resolved. Following GC drilling in2016, a trial pit was completed in the Royal deposit with ore treated at theFMR Greenfields treatment plant at Coolgardie. A total of 30,000 dry tonnes ata head grade of 1.73 g/t produced 1,525 oz of gold, which reconciled well withthe GC model. The trial open pit was excavated to a final depth of 20 metresexposing the orebody allowing the quartz veining to be measured andunderstanding improved.

On the back of the success of the trial pit and GC drilling, inlate 2019, Horizon conducted 18,000m of GC drilling to demonstrate an increasein metal with closer spaced drilling. A revised GC model was developed as asubset of the broader Boorara Resource to 50m depth which was used for open pitoptimisation and design in February 2020. Mining commenced in April 2020and was completed in August 2020 with total material movement of 513,000 BCMwith total ore mined (high and low grade) of 267,000t at a mine claimed gradeof 1.23g/t Au for 10,560 ounces mined. Treatment through the Lakewoodprocessing facility comprised 138kt of the higher-grade material processed overfour toll milling campaigns with a reconciled mill feed grade of 1.45g/t Au anda gold recovery of 94.7%. A 17kt parcel of lower grade was also milled to testgrade allocation processes. Gold production from the trial totalled 6,568oz at94.5% recovery generating A$16.8 million in revenue at an average sale price of$2,551/oz which generated A$3.6 million in free cash flow after all costs.