Horizon Minerals Limited

Nimbus Zinc Silver Project Update

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to provide an update on the Nimbus silver-zinc project, adjacent to the Boorara gold mine, 17km east-southeast of Kalgoorlie-Boulder in the goldfields of Western Australia (Figure 1).


HIGHLIGHTS

  • The current global Mineral Resource estimate for Nimbus stands at:
    • 12.1Mt grading 52g/t Ag for 20.24Moz of silver and 0.9% Zn for 106kt zinc 1
  • A high-grade subset exists within this global resource immediately below the historical pits and has a Mineral Resource estimate of:
    • 260kt grading 774g/t Ag for 6.4Moz silver and 12.8% Zn for 33kt zinc 1
  • Concept study has confirmed the optimal economic development pathway through mining of the higher-grade lodes and generation of a silver / zinc concentrate with more drilling required to increase overall tonnage and mine life 2
  • Silver currently trading at A$42/oz and zinc at A$4,000/t
  • A Programme of Work (POW) has been approved by DEMIRS and drilling expected to be undertaken in the first half of 2025 to drill test the exploration target 3
  • Exploration Target defined below Nimbus to be tested.

Commenting on the Nimbus silver-zinc project, Horizon Managing Director and CEO Mr Grant Haywood said:

“We see the potential to grow the higher-grade core within the Nimbus resource at depth down plunge and along strike. Whilst we are firmly focussed on delivering on gold production at Boorara and Phillips Find, the Company will continue working to develop a longer-term production profile at Nimbus. We look forward to undertaking drilling in 2025 with the aim of increasing the resource prior to re-instigating a feasibility study for the project”.

Cautionary Statement – Exploration Target

The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and there is no certainty that further exploration work will result in the determination of mineral resources. See the basis of exploration target on pages 6 and 15-17, also Tables on pages 21-24, Competent Persons Statement on Pages 18.

Figure 1: Kalgoorlie project area locations and surrounding infrastructure

The Nimbus Project is sits 2km east of the Company’s cornerstone Boorara project and 6.5km north- northwest of Golden Ridge. Both Boorara and Golden Ridge are historic gold mining centres, with Boorara recommencing production activities.1 The Nimbus mine site on granted mining leases M26/490 and M26/598 and easily accessed from the Kalgoorlie-Bulong Road via an unsealed haul road. The tenements are located within the Hampton Hill Pastoral Station (Figure 2).

The Nimbus Project was mined by Polymetals in two stages. Phase 1 (Jan 2004 – April 2005) concentrated on mining extremely weathered oxide material in the Discovery and East Pits. Phase 2 (Nov 2005 – May 2006) concentrated on mining remnant oxide and supergene material from the Discovery Pit. Ore treatment was undertaken at an onsite mill utilising a Merrill-Crowe circuit.

The Nimbus Silver-Zinc Project was placed on care and maintenance in 2007 after producing 3.6 Moz of silver from 318 kt of ore processed at a grade of 353 g/t Ag.


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.

HRZ:AU
Horizon Minerals

Horizon Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Horizon Minerals

Horizon Minerals

Horizon Minerals

Horizon Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Emerging stand-alone gold producer in Western Australia

Quarterly Cash Flow Report 30 September 2025

Quarterly Cash Flow Report 30 September 2025

Horizon Minerals (HRZ:AU) has announced Quarterly Cash Flow Report 30 September 2025Download the PDF here. Keep Reading...
Quarterly Activities Report 30 September 2025

Quarterly Activities Report 30 September 2025

Horizon Minerals (HRZ:AU) has announced Quarterly Activities Report 30 September 2025Download the PDF here. Keep Reading...
Burbanks Drilling Returning Spectacular Grades

Burbanks Drilling Returning Spectacular Grades

Horizon Minerals (HRZ:AU) has announced Burbanks Drilling Returning Spectacular GradesDownload the PDF here. Keep Reading...
Pre Feasibility Study

Pre Feasibility Study

Horizon Minerals (HRZ:AU) has announced Pre Feasibility StudyDownload the PDF here. Keep Reading...
YRL: Gordons Tenement Sale Agreement Executed with HRZ

YRL: Gordons Tenement Sale Agreement Executed with HRZ

Horizon Minerals (HRZ:AU) has announced YRL: Gordons Tenement Sale Agreement Executed with HRZDownload the PDF here. Keep Reading...
Graphic reading "Top 5 Canadian mining stocks this week" in front of stock market graph in background.

Top 5 Canadian Mining Stocks This Week: JZR Gold Jumps 113 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.The Government of Ontario started taking applications for resource development projects under... Keep Reading...
Nevgold President, CEO and Director Brandon Bonifacio.

NevGold Discovers “Highest-grade” Antimony Drilled to Date at Nevada Project

With grades of up to 14.9 percent, NevGold's (TSXV:NAU,OTCQX:NAUFF) newly discovered Bullet zone within the Resurrection Ridge target area is the highest-grade antimony ever drilled to date at the company’s Limo Butte project in Nevada, according to NevGold’s president and CEO, Brandon... Keep Reading...
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
Golden bars background with a rising green arrow; text: "Weekly Editor's Picks."

Editor's Picks: Gold Price Breaks US$4,300, Silver Soars Past US$54

It's been yet another historic week for gold and silver, with both setting new price records.The yellow metal broke through US$4,200 per ounce and then continued on past US$4,300. It rose as high as US$4,374.43 on Thursday (October 16), putting its year-to-date gain at about 67 percent.... Keep Reading...
Don Durrett, gold and silver bars.

Don Durrett: Gold, Silver Miners to Rip Even Higher, Here's When to Buy

Don Durrett of GoldStockData.com outlines current gold and silver market dynamics, explaining why the metals continue to rise and how high they could go in the future. He also shares his current gold and silver stock strategy. Don’t forget to follow us @INN_Resource for real-time... Keep Reading...
Prince Silver (CSE:PRNC)

Prince Silver Corp Announces Listing on the Frankfurt Stock Exchange Under the Symbol T130

Prince Silver Corp. ("Prince" or the "Company") (CSE:PRNC)(OTCQB:PRNCF) is pleased to announce that its common shares can now be traded on the Frankfurt Stock Exchange ("FSE") under the symbol T130, WKN: A3E4QS and ISIN: CA74174A1021.With this listing, the Company's common shares are now quoted... Keep Reading...
Horizon Minerals

Horizon Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News