Horizon Minerals Limited

Phillips Find Mining Update

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to provide an update on the development of the Phillips Find Gold Project (“Phillips Find”).


HIGHLIGHTS

  • Joint Venture (JV) Agreement in place with mining specialists BML Ventures Pty Limited (BML) to develop and mine two open pits at Phillips Find 1
  • All management, technical, operational and maintenance roles to be undertaken by BML with oversight by the Company
  • Low financial risk JV structure with BML to fund all project costs, with net cashflow after the asset recovery and repayment of costs to be split 50/50 between Horizon and BML
  • Mobilisation and site establishment completed, inclusive of camp, offices, communications and workshop established with all required fixed and mobile equipment on site
  • Site fully manned up on both day and night shift
  • Mine plan involves cutbacks to two existing open pits, Newhaven and Newminster
  • Mining well advanced, with over 160,000 BCMs (Bank Cubic Metres) of pre-strip waste mined to date with first ore due to be exposed in December 2024.
  • Existing 200kt Toll Milling Agreement executed with FMR Investments Pty Ltd (FMR) in May 2024 to be utilised for Phillips Find JV ore 3
  • First ore from Phillips Find on track to be treated at FMR’s Greenfields mill from February 2025 to June 2025 4

Commenting on the mining progress, Managing Director and CEO Mr Grant Haywood said: 2

“We are very pleased to see the progress made at our Phillips Find project with great progress made on the mining to date. We look forward to commencing the grade control program early in December and the first mining of ore occurring in December 2024.

With first gold production from our Boorara gold project expected in the current quarter, the progress at Phillips Find leaves us well positioned to make strong cashflows in this high gold price environment.”

Overview

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to provide an update on the development of the Phillips Find Gold Project. The 100% owned Phillips Find project is located 45km north-west of Coolgardie in the heart of the Western Australian Goldfields (Figure 1).

Figure 1: Horizon’s project locations, regional geology and surrounding infrastructure

Next Steps 1

Mining at Newhaven is well advanced with pre-strip of the Newminster pit to commence shortly creating two working areas for the mining fleet. Due to the nature of the cutbacks of two existing open pits, mining is predominantly in waste whilst progressing deeper to access the ore. Grade control drilling is planned to commence in early December 2024. Ore stockpiles will be developed over the coming months, with processing of ore on track to occur through February to June 2025.


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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Horizon Minerals

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Expediting the path to gold production

Horizon Minerals Limited  GR Engineering Awarded Black Swan Plant Engineering Study

Horizon Minerals Limited GR Engineering Awarded Black Swan Plant Engineering Study

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to announce it has awarded GR Engineering Services Limited (ASX:GNG) ("GR Engineering") with the engineering studies work program to support the refurbishment and repurposing of the Black Swan processing plant for gold production.

The engineering studies will be overseen by Horizon Project Manager Dirk Richards and will provide capital and operating cost estimates to an accuracy of +/-20%. GR Engineering is a leading engineering firm with extensive studies and projects experience successfully working on a range of gold processing plants in the Western Australian Goldfields.

Commenting on the process engineering award, Managing Director and CEO Mr Grant Haywood said:

"We are very pleased to have awarded this work to GR Engineering. They are a very competent group capable of delivering a quality study to refurbish and repurpose our Black Swan processing plant into a gold plant. This is another significant milestone for the Company progressing Horizon towards our goal of becoming a mid-tier gold producer."



About Horizon Minerals Limited:  

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

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Horizon Minerals Limited  Gold Mining and Processing Update

Horizon Minerals Limited Gold Mining and Processing Update

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide an update on the development of the Phillips Find ("Phillips Find") and Boorara ("Boorara") Gold Projects.

HIGHLIGHTS

New Toll Treatment Agreement for processing Phillips Find ore

- Completion of processing of the first 37,000t of ore from the Phillips Find JV with BML Ventures Pty Ltd (BML) under the 200,000t Toll Milling Agreement with FMR Investments Pty Ltd (FMR) to treat Horizon ore from February to June 2025 at the Greenfields Mill

- First ore parcel from Phillips Find consisted of 37,624 dry tonnes at 1.46g/t for 1,675.3oz at an average price of $4,728/oz, generating ~$7.9M to the Phillips Find JV

- An additional 80,000t of ore from Phillips Find will be processed at the Greenfields Mill in both April and June in addition to approximately 80,000t of ore to be processes from Boorara to complete the Toll Processing Agreement with FMR.

- A New Toll Milling Agreement executed to treat 70,000t of ore from Phillips Find in September/October 2025 to be processed at Focus Minerals Limited's (Focus) Three Mile Hill processing plant

- Grade control drilling completed at Phillips Find and has resulted in a revised schedule where the final 70,000t ore mined in the current campaign is treated at Three Mile Hill Mining, haulage and processing progressing well at Boorara

- Proceeds received from the processing of the first 50,604t of Boorara ore under the Ore Sale Agreement with Norton Gold Fields' Paddington Mill for the processing of total of 1.24Mt of Boorara ore

- First ore stockpile from Boorara was 50,604 dry tonnes at 0.791g/t for 1,163 oz sold at an average gold price of $4,256/oz, generating ~$4.951M in revenue

- The second ore parcel is currently being processed at Paddington with a third parcel is in the process of being hauled. More than 100,000t of high-grade ore is currently stockpiled on the Boorara ROM pad, allowing for the additional campaigns to be processed at the Greenfields Mill in April and June

- Boorara is now operating at steady state ore production

Commenting on the mining progress, Managing Director and CEO Mr Grant Haywood said:

"Following on from our first gold pour for Boorara in January, we have now built up significant ore stockpiles, with mining now in steady state operation and in a position for the continuous processing of ore and cashflow generation which will continue well into 2026. We are also pleased to secure a new toll treatment agreement with Focus Minerals which aligns with the revised mining schedule at Phillips Find and allows us to increase our overall gold production from Boorara. As gold production ramps up in the June quarter we expect to commence a steady cash build from our dual mining and haulage operations."

Next Steps

The next campaign of ore treatment at FMR's Greenfields mill is scheduled to commence on 9 April 2025 and will comprise approximately 40kt of Boorara ore and 40kt of Phillips Find ore. A similar split of Boorara and Phillips Find ore is scheduled to be processed in June 2025 which will complete Horizon's current 200kt Toll Treatment Agreement with FMR.

The remaining 70kt of Phillips Find ore shall be processed through September/October 2025 at Focus Minerals' Three Mile Hill plant.

Processing of ore at Paddington from Boorara has now reached steady state and is expected to be continuous.

A further mining and processing update is expected in the Company's March Quarterly Report.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/3EP3Z408



About Horizon Minerals Limited:  

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

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Horizon Minerals Limited  Appoints Key Operational Personnel to Lead Growth

Horizon Minerals Limited Appoints Key Operational Personnel to Lead Growth

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to announce two key executive appointments to progress the Company's operational growth plans.

Ms Adrianna Skok-Muir has been appointed Group Mining Engineer and Mr Dirk Richards has been appointed as Project Manager.

Adrianna will manage the Life of Mine plan Feasibility Study to provide ore to the Black Swan processing plant. Adrianna has over 25 years' experience as a mining engineer, project manager and leader. She has very strong technical and operational experience in both open pit and underground environments, covering areas of feasibility studies and project management. Adrianna joins from South32 and has previous roles at Iluka Resources, Optiro and Xenith Consulting. She has worked across multiple commodities including nickel and gold in the Eastern Goldfields of WA. She holds a Masters in Mine Planning and Design, a Diploma in Project Management, a WA First Class Mine Managers Certificate of Competency and is a Member of the AusIMM. She has held multiple senior industry positions, including Principal Mining Engineer, Project Manager and the statutory position of Underground Manager.

Mr Dirk Richards has been appointed as Project Manager with his key responsibility to manage the refurbishment and repurpose of the Black Swan processing plant into a gold plant. Dirk is an accomplished mining industry professional with 30 years of experience in client representation, project and study management, and consulting. He has held roles with Newmont Corporation, Newcrest Mining and RPM Global and his expertise spans engineering design, mineral processing, hydrometallurgy, construction management, project commissioning, contracts, and budgets. Dirk is a Chartered Professional Metallurgist with the AusIMM, a Member of the Royal Chemical Institute and holds an MBA.

Commenting on the key appointments, Managing Director and CEO Mr Grant Haywood said:

"We are delighted to welcome Adrianna and Dirk to the Horizon team, leveraging their strong skills and experience to lead the key study areas during this exciting growth phase. We are excited to have them both contribute in progressing Horizon towards our goal of becoming a mid-tier gold producer."



About Horizon Minerals Limited:  

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

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Horizon Minerals Limited  First Gold Pour - Phillips Find Gold Project

Horizon Minerals Limited First Gold Pour - Phillips Find Gold Project

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide an update on operations and gold production from the Phillips Find Gold Project ("Phillps Find").

Mining of the Newhaven and Newminster cutbacks is progressing safely and efficiently at Phillips Find.

Processing of the first stockpile of Phillips Find ore commenced on Wednesday 19 February 2025 and is expected to take two weeks, treating approximately 40,000 tonnes of ore. First gold was poured on Monday 24 February 2025.

Once processing is completed and reconciled, including the receipt of opening and closing gold in circuit assays, the Company will provide a further update on the ore tonnes and grade milled, gold ounces produced, and average gold sale price for this first treatment campaign of Phillips Find ore.

The second ore processing campaign for the Phillips Find Gold Project is scheduled for April 2025.

- On Monday 24 February 2025, Horizon poured its first gold bar from the Phillips Find Gold Project under a Toll Milling Agreement with FMR Investment Greenfields Mill.

- Horizon entered into a Toll Milling Agreement with FMR Investment Greenfields Mill for the processing of 200kt of ore from February to June 2025.

- Horizon approved the development of the Phillips Find Gold Project in early August 2024 and executed a Joint Venture (JV) Agreement with mining specialists BML Ventures Pty Limited (BML) to develop and mine two open pits, Newhaven and Newminster.

- Processing of the first stockpile of approximately 40,000t of ore commenced on Wednesday 19 February and is expected to be processed over the next two weeks.

Commenting on the production update, Managing Director and CEO Mr Grant Haywood said:

"The first gold pour from Phillips Find marks another significant milestone for our team and stakeholders. This follows pouring our first gold bars and receiving revenue from our Boorara Gold Project last month. We are excited to build on this success as we continue ramping up production at Phillips Find and Boorara to generate value in a very high gold price environment".



About Horizon Minerals Limited:  

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

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Newmont Reports First Quarter 2025 Results

Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) today announced first quarter 2025 results and declared a dividend of $0.25 1 per share.

"Following on from a robust fourth quarter performance, Newmont has delivered 1.5 million attributable gold ounces and generated a record first quarter free cash flow of $1.2 billion, demonstrating the strength of our unrivaled Tier 1 Portfolio," said Tom Palmer, Newmont's President and Chief Executive Officer. "We also successfully completed our non-core divestiture program, generating up to $4.3 billion in total gross proceeds including over $2.5 billion of after-tax cash proceeds in the first half of 2025. With these significant achievements and a solid start to the year, we remain firmly on track to meet our 2025 guidance, continuing on our journey towards creating the world's leading gold and copper portfolio for the benefit of our shareholders."

News Provided by Business Wire via QuoteMedia

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