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Following the successful completion of the merger between Horizon Minerals Limited (ASX: HRZ) and Greenstone Resources Limited (formerly ASX: GSR), additional resource model work and reviews, the Company is pleased to provide a consolidated statement of group Mineral Resources as of 30 June 2024.
HIGHLIGHTS
- Mineral Resources currently stand at:
- 1.8Moz gold 1
- 20.2Moz silver, 104kt zinc 2
- 283kt nickel, 40.5kt cobalt and 296.2kt manganese (50% owned) 2
- Mineral Resources are underpinned by the large cornerstone Boorara and Burbanks assets
- Updated Mineral Resource Estimates (MRE) include a maiden MRE for Pinner, an update for Monument and a revision for Boorara which is currently under an Ore Reserve Study (ORS) from AMC Consultants
- Changes to the gold MREs include:
- Addition of 297,650oz from Burbanks open pit 3
- Addition of 167,920oz from Burbanks underground 3
- Addition of 13,000oz from Pinner 4
- Addition of 3,000oz from Monument, and 4
- Reduction of 20,240oz from Boorara 5
- Large Mineral Resource base and ongoing studies pave the way for a development profile aiming at sustained gold production and continuous cashflows
Commenting on the Group MRE upgrade, Managing Director and CEO Mr Grant Haywood said:
“It is very pleasing to have the Burbanks and Phillips Find assets under single ownership with Horizon’s complementary and extensive project base. Together this provides 1.8 million ounce gold portfolio, which is a great platform to implement our near term strategy of cashflow from operations and further growth into the medium and long term”.
Click here for the full ASX Release
This article includes content from Horizon Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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