Name of the Project
Boorara gold project – Stage 1.

Location
The project is 10 km east of Kalgoorlie’s Super Pit gold mine, on the eastern edge of the City of Kalgoorlie-Boulder, in Western Australia.

Project Owner/s
Horizon Minerals.

Project Description
The project will mine a series of four openpits containing 1.24-million tonnes of ore at 1.24 g/t gold for 49 500 oz of gold.

Processing will be undertaken at Norton Gold Fields’ Paddington plant.

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
Mining is envisioned to occur over 14 months, and processing over 19 months.

Latest Developments
Boorara remains on track for first ore delivery this month, despite some labour shortages on site.

Mining started in August 2024, with single shifts, and first ore was exposed and mined in late September 2024.

Horizon plans to establish an ore stockpile of 40 000 t to 50 000 t at the project before haulage starts.

First ore is on track for delivery to Paddington in late October 2024, with first gold production expected in November.

Key Contracts, Suppliers and Consultants
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); Strategen-JBS&G Environmental Consultants (environmental studies); Hampton Transport Services (ore haulage); and Norton Gold Fields (ore processing).

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