In a significant update, Horizon Minerals Limited (ASX: HRZ) reported that mining and ore haulage at the Boorara gold mine remains well ahead of schedule.
Up until now, total material movement of 357,000 BCM, representing 30% above plan and the ore mined of 80,000t at a fully diluted grade of 1.5g/t Au is completed, which is in line with reserve model estimates.
The company has commenced first milling campaign at the Lakewood producing first gold next week, while the regular campaigns are scheduled through to January 2021.
The Stage One Boorara Development plan along with capitalising the current strong gold price, would also provide mine to mill reconciliation outcomes.
HRZ traded at $0.140, up by 3.7% (as at 12:13 PM AEST).
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