USD $4,127.96
Goldman Initial gold production achieved under Ore Sale Agreement with Paddington Mill
Horizon Minerals Limited (ASX:HRZ) has successfully poured its first gold bar from the Boorara Gold Project under an Ore Sale Agreement with Norton Gold Fields’ Paddington Mill.
The milestone follows Horizon’s approval in July 2024 to develop a series of four open pits at Boorara, targeting 1.24Mt of ore at 1.24 g/t Au for an estimated recovery of 49.5koz of gold over 18 months. To date, the entire first stockpile of 56,000 wmt of ore, averaging 0.8 g/t Au, has been delivered to the Paddington Mill for processing.
Mining operations at Boorara pits 2 and 4 are continuing, with additional stockpiles being prepared for haulage. While operations are progressing safely, minor delays were reported due to equipment downtime affecting dust suppression. Repairs have been completed, and activities are now on schedule.
Commenting on the achievement, Managing Director and CEO Mr Grant Haywood said:
We are delighted to become Australia’s newest gold producing company in 2025. We have a Mineral Resource of 1.8Moz across our projects and developing a sustainable gold production pipeline which includes numerous projects that are ready for a Final Investment Decision, such as Penny’s Find and the Cannon projects. With the cashflow we expect to generate from Boorara and our other advanced projects, we will seek to use this production pipeline to feed a refurbished Black Swan mill after completion of our proposed merger with Poseidon Nickel Limited.
