Rua Gold Responds to OTC Markets Request on Recent Promotional Activity

Rua Gold Responds to OTC Markets Request on Recent Promotional Activity

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") announces that it has been requested by OTC Markets Group Inc. ("OTC Markets") to issue this statement about promotional activity concerning its common shares (the "Shares") traded on the OTCQB Venture Market ("OTCQB") (operated by OTC Markets).

On October 21, 2024, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its Shares traded on the OTCQB, including the distribution of four email newsletters (the "Promotional Newsletters") published by Wealth Research Group LLC, an affiliate of Gold Standard Media, LLC ("Gold Standard"), Portfolio Wealth Global, an affiliate of Gold Standard, SHTFPlan.com, an affiliate of Gold Standard, and Future Money Trends LLC, an affiliate of Gold Standard, discussing the Company, its business, the economy, and the gold market generally.

On April 15 and October 11, 2024, the Company entered into advertising agreements with Gold Standard, whereby Gold Standard, along with its affiliates, Wealth Research Group LLC, Portfolio Wealth Global, SHTFPlan.com and Future Money Trends LLC, would provide investor relations and advertising services to the Company. The Company was therefore aware of Wealth Research Group LLC's, Portfolio Wealth Global's, SHTFPlan.com's and Future Money Trends LLC's promotional activities respecting the Company since April 15, 2024. Accordingly, the Promotional Newsletters were paid for by the Company through its engagement of Gold Standard.

The engagement of Gold Standard, the nature of the relationship between the Company and Gold Standard, as well as the compensation paid to Gold Standard, was publicly disclosed in news releases on April 17, 2024 and October 15, 2024, which can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.RUAGOLD.com).

The Company provided Gold Standard with publicly available sources of information for its marketing materials and management reviewed and approved the materials prepared by Gold Standard prior to their dissemination, including to ensure factual accuracy. The Company does not believe the statements in the Promotional Newsletters were materially false or misleading. However, the Company notes that investing in the Company's securities involves certain risks and uncertainties which investors should review prior to making any investment decision. The Company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with the Canadian Securities Administrators, available at www.sedarplus.ca.

After inquiry of management, other than as disclosed herein, no directors and control persons, its officers, directors or controlling shareholders, or any third-party service providers have, directly or indirectly, been involved with the creation, distribution, or payment of promotional materials related to the Company and its securities.

An increase in the trading volume of the Shares was noted by the OTC Markets on October 21, 2024. The trading volume of 2,460,858 represented approximately 3.4% of the total volume of 73 million shares traded over the past 12 months in Canada. The Company understands certain promotional activity coincided with increased trading activity in its Shares beginning on October 21, 2024. However, the Company does not believe the promotional activities were the sole or primary factor in any increase in trading volume of its Shares. Rather, there are many other factors including the active exploration and development and acquisition of mineral properties over the past 12 months and press releases that are likely to affect trading activity of the Shares generally, which may include, but are not limited to:

  1. https://ruagold.com/rua-gold-provides-an-update-on-previously-announced-acquisition-of-siren-golds-reefton-assets/

  2. https://ruagold.com/rua-golds-drill-program-intersects-near-surface-gold-at-the-reefton-project/

Except as disclosed below, after inquiry of management, its officers, directors, any controlling shareholders, or any third-party service providers, the Company is not aware of any purchases or sales of the Shares in the past 90 days:

  • Robert Eckford, Chief Executive Officer of the Company, acquired 555,556 Shares at $0.18 per Share on July 25, 2024, and 40,000 Shares at $0.155 per Share on September 18, 2024;

  • Mario Vetro, a director of the Company, acquired 111,112 Shares at $0.18 per Share on July 25, 2024;

  • Tyron Breytenbach, a director of the Company, acquired 55,556 Shares at $0.18 per Share on July 25, 2024;

  • Paul Criddle, Chairman of the Company, acquired 111,112 Shares at $0.18 per Share on July 25, 2024;

  • Oliver Lennox-King, a director of the Company, acquired 1,388,889 Shares at $0.18 per Share on July 25, 2024; and

  • Zeenat Lokhandwala, Chief Financial Officer and Corporate Secretary of the Company, acquired 416,667 Shares at $0.18 per Share on July 25, 2024.

The Company has engaged the following third-party service providers to provide investor relations services, public relations services, marketing, or other related service within the last twelve months: MMG Market Medium GmbH & Co. KG (February 27, 2024), NAI Interactive Ltd. (April 4, 2024), Triomphe Holdings Ltd. dba Capital Analytica (February 29, 2024), Dig Media Inc. dba Investing News Network (April 16, 2024), Direct to Investor Media , LLC (February 27, 2024), Gold Standard Media, LLC (April 15, 2024 and October 11, 2024), Junior Mining Networking, LLC (April 8, 2024), and 2686362 Ontario Corporation dba CanaCom Group (August 12, 2024).

Other than pursuant to financings and acquisition transactions in accordance with TSX Venture Exchange policies, which the Company has publicly disclosed in news releases (available at: www.sedarplus.ca), including the public offering of Shares completed on July 25, 2024, the Company has not issued Shares, or convertible instruments allowing conversion to equity securities, at prices constituting, at the time of issuance of such shares or convertible instruments, a discount to the then current market price.

About Rua Gold

Rua Gold (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) is a new entrant to the gold mining space, specializing in gold exploration and discovery in New Zealand. Upon closing of the transaction with Siren Gold Limited announced in July 2024, the Company will have permits enveloping 90% of the Reefton Goldfield in New Zealand's South Island. This district has a rich history dating back to the gold rush in the late 1800s. The Company also has a highly prospective tenement package in the North Island, located within 3 kms of OceanaGold's biggest pipeline project, Wharekirauponga. Rua Gold combines traditional prospecting practices with modern technologies to uncover and capitalize on valuable gold deposits.

The Company is committed to responsible and sustainable exploration, which is evident in its professional planning and execution. The Company aims to minimize its environmental impact and to execute on its projects with key stakeholders in mind. Rua Gold has a highly skilled team of New Zealand professionals who possess extensive knowledge and experience in geology, geochemistry, and geophysical exploration technology.

For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.

Rua Gold Contact

Robert Eckford
Chief Executive Officer
Email: reckford@RUAGOLD.com
Website: www.RUAGOLD.com

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227625

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An emerging gold explorer in New Zealand’s historical goldfields

RUA GOLD Reports Significant Gold-Antimony Intercepts from Its Reefton Project

RUA GOLD Reports Significant Gold-Antimony Intercepts from Its Reefton Project

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to provide an update on assay results from its gold-antimony exploration at the Auld Creek project, within the Reefton Goldfield on the South Island of New Zealand; reporting strong antimony grades from current drilling.

Highlights:

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RUA GOLD Closes C$5.75 Million Brokered Offering Including the Full Exercise of Over-Allotment Option

RUA GOLD Closes C$5.75 Million Brokered Offering Including the Full Exercise of Over-Allotment Option

Highlights 

  • Closing the oversubscribed brokered offering for $5.75 million of gross proceeds. 

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RUA GOLD Announces C$5 Million Brokered Offering of Common Shares

RUA GOLD Announces C$5 Million Brokered Offering of Common Shares

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) (" Rua Gold " or the " Company ") is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as sole agent (the " Agent "), pursuant to which the Agent has agreed to act as agent on a "best efforts" basis, in connection with the public offering of 8,333,400 common shares in the capital of the Company (each, a " Common Share ") at a price of C$0.60 per Common Share (the " Offering Price ") for aggregate gross proceeds of C$5,000,040 (the " Offering "). The Offering is expected to close on or about February 20, 2025 (the " Closing Date "), or such other date as agreed upon between the Company and the Agent, and is subject to certain conditions including, but not limited to the receipt of all necessary regulatory approvals.

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New Zealand Government Publishes Its Critical Minerals List - Naming Gold and Antimony. RUA GOLD Provides Exploration Update on the Reefton Project's Extensive Antimony Potential

New Zealand Government Publishes Its Critical Minerals List - Naming Gold and Antimony. RUA GOLD Provides Exploration Update on the Reefton Project's Extensive Antimony Potential

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") executives attended the launch event for the Minerals Strategy for New Zealand to 2040 and Critical Minerals List event hosted by New Zealand Petroleum and Minerals in Waihi on January 31, 2025. Honorable Shane Jones, Resource Minster for New Zealand, presented the critical minerals list that included both gold and antimony.

Furthermore, Rua Gold is pleased to provide an update from the exploration campaign underway at the Reefton Project on the South Island of New Zealand with significant added potential of antimony within the project.

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RUA GOLD Reports Two Major Gold Bearing Structures Identified on Its Glamorgan Project

RUA GOLD Reports Two Major Gold Bearing Structures Identified on Its Glamorgan Project

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to provide an update following the completion of the first phase of surface exploration on its Glamorgan epithermal gold prospect in the Hauraki region on the North Island New Zealand.

Highlights: 

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Heliostar to Commence 15,000m Ana Paula Drill Program

Heliostar to Commence 15,000m Ana Paula Drill Program

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce an aggressive drill-out of the Company's 100% owned Ana Paula deposit. The company will mobilize two drill rigs in April to commence the program.

Heliostar CEO Charles Funk comments, "We have always wanted to push harder at Ana Paula, and now we can commence the largest drill program in the Company's history. We see potential to further improve the resource at Ana Paula. The program will infill the current resource, step out to expand its boundaries and explore untested areas on the property. Both we and our shareholders have been keen for this opportunity, and it's time to turn the rigs loose at Ana Paula."

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Blackrock Silver Steps Out 1.2km Across New High-Grade Zone at Tonopah West

Blackrock Silver Steps Out 1.2km Across New High-Grade Zone at Tonopah West

Scout Drilling Confirms the Extension of the High-Grade Merten Vein Creating Potential to Expand the DPB Resource up to 1,200 Metres to the East

Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) ("Blackrock" or the "Company") is pleased to announce the results from the reverse circulation ("RC") Scout Drilling Program completed on the southeastern side of the DPB M&I Conversion area on its 100% owned Tonopah West project located in Nye and Esmeralda Counties, Nevada, United States.

Starting in late December 2024 and finishing in late January 2025, the Company completed ten exploration RC drillholes in the eastern portion of the DPB area and the adjacent Ohio target to test for gold and silver along a structural zone and beneath a felsic sill. A total of 3,857 metres (12,655 ft) was drilled. The program was very successful with silver and gold being returned from all targets.

SCOUT PROGRAM HIGHLIGHTS:

  • Assays from our reverse circulation scout drill program have returned significant gold & silver values in 7 drillholes that have successfully expanded the footprint of mineralization up to 1,200 metres to the east of the existing DPB resource toward the historic Ohio mine;

  • These intercepts cover a new zone of mineralization not included in the 2024 resource that may impact the upcoming DPB South resource update (Q3, 2025);

  • TW25-128 which returned 9.6 grams per tonne (g/t) gold and 1,198 g/t silver over 1.52-metres (2,063 g/t silver equivalent (AgEq)) from 292 metres in the Ohio area;

  • TW25-133 returned multiple thick zones of mineralization including 10.46 g/t gold and 10.6 g/t silver over 4.57-metres (952 g/t AgEq) including 1.52 metres grading 21.45 g/t gold and 15.7 g/t silver (1,948 g/t AgEq) from 309 metres and 3.05 metres grading 270 g/t AgEq (129 g/t silver and 1.57 g/t gold) from 280 metres;

  • TW25-130 cut 1.52 metres of 587 g/t AgEq (3.3 g/t gold and 290 g/t silver) from 189 metres

  • Assays from multiple drillholes have extended the Merten vein system by 540 metres along strike to the east of the main DPB South resource. With the inclusion of discovery hole TW25-128, targeting an area historic miners referred to as the Ohio vein, the mineralized trend could extend up to 1,200-metres in length;

  • Additional drilling has been deployed to this area and assays for three core holes, TXC25-133, -134 and -135 are pending.

Andrew Pollard, Blackrock's President and CEO, stated, "Results from our RC Scout drilling program confirm the discovery of a new high-grade gold and silver structural zone extending 1.2 kilometres (km) east from our existing resource shell. Historic miners referred to this eastern target area as the Ohio Vein, a substantial producer in the early 1900's, but until now, its mineralization had remained elusive. With every drillhole in this program returning elevated grades across the trend, the scale of the project has increased dramatically, with the results suggesting significant new high-grade tonnage potential. Coupled with our recently released expansion results (see February 24, 2025 news release), where we successfully stepped out 500 metres to the northwest, we have increased the footprint of high-grade mineralization along the vein corridor by over 65% this year, adding an additional 1.7km of drill-defined strike. We have already deployed additional drilling to this new zone, with assays for three core drillholes pending."

TW25-133 returned significant silver and gold with values starting at 309-metres grading 10.46 g/t gold and 10.6 g/.t silver over 4.57 metres (952 g/t AgEq). This mineralization extends the Merten vein 540 metres to the east-southeast of the main DPB South resource. With the inclusion of TW25-128 which returned 9.6 g/t gold and 1198 g/t silver over 1.5-metres (2,063 g/t AgEq), the zone could be up to 1,200-metres in cohesive strike. Table 1 summarizes the assay results (150 g/t AgEq cutoff).

Table 1: Scout Drilling Program results above 150 g/t AgEq

Drillhole IDHole TypeAreaFrom (m)To (m)Drill Interval (m)Ag g/tAu g/tAgEq g/t
TW25-125RCDPB East220.98222.501.5276.412.010257.3
TW25-127RCDPB East390.15391.671.528.001.750165.5
TW25-130RCDPB East188.98190.501.52290.003.300587.0
TW25-132RCDPB East245.36246.891.5278.581.180184.8
TW25-133RCDPB East280.42283.473.05129.081.575270.8
TW25-133RCDPB East309.37313.954.5710.6510.456951.8
Including309.37310.901.5215.7321.4671,948.0
TW25-128RCOhio292.61294.131.521,198.009.6102,063.0
TW25-128RCOhio297.18298.711.52219.001.720373.8
TW25-131RCOhio269.75271.271.5289.102.630325.8
AgEq gpt=(Au gpt*90)+Ag gpt; True thickness unknown at this time; Cut-off grade is 150 gpt AgEq;
RC = Reverse Circulation Drilling

 

Drilling suggests the Merten vein extends eastward and is arched and dips southward. This orientation suggests multiple ring structures associated with the Fraction caldera. An inner structure hosting the Victor and DPB North (Denver and Paymaster) resources, and an outer, more southern, ring structure hosting DPB South (Merten and Bermuda) and the NW Stepout resources. The arching geometry of the Merten vein is similar to that described from the historic Ohio vein which was 15 metres thick when mined in the early 1900s1. Given the geometry and location, the Merten is potentially the extension of the Ohio vein.

The mineralized zone traced by these assay results is new and not included in the 2024 resource. These results may have a substantive impact on the planned DPB South resource update scheduled for Q3 2025.

Drillholes TW24-124, TW25-126 and TW25-129 did not return assay values above 150 g/t AgEq. TW24-124 and TW25-126 were in the DPB area while TW25-129 was collared in the Ohio area. These drillholes had mineralization which ranged between 49 to 60 g/t AgEq. Assays for three core holes, TXC25-133, -134 and -135 are pending.

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Figure 1: Tonopah West expansion potential

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Figure 2: Drillhole location map for Scout Drilling Program

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Figure 3: Geologic cross section along 478540E

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Table 2: Drillhole location information for Scout Drilling Program (UTM NAD1927, Zone 11)

Drillhole IDAreaTypeUTM_NAD27 EUTM_NAD27 NElevation (m)Depth (m)AzimuthInclination
TW24-124DPB SouthRC478302.854213183.181791.54411.48180-60
TW25-125DPB SouthRC478405.394213117.901797.06304.800-90
TW25-126DPB SouthRC478400.974213055.721799.52409.960-90
TW25-127DPB SouthRC478529.614213096.321804.59422.15180-60
TW25-128OhioRC479078.574213217.731841.08330.71120-50
TW25-129OhioRC478672.264213471.001805.18335.28180-73
TW25-130DPB SouthRC478408.034213388.751792.68403.860-90
TW25-131OhioRC478781.264213164.871826.77342.90120-50
TW25-132DPB SouthRC478309.514213188.541791.67464.820-70
TW25-133DPB SouthRC478525.854212989.451808.48431.290-90

 

Quality Assurance/ Quality Control

All sampling is conducted under the supervision of the Company's project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The RC samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company's instructions.

The RC samples are lined out at the lab and logged into AAL's system. The samples are dried, crushed to 85% passing 10 mesh (2mm) and a 250-gram sub-sample split is collected and pulverized to 200 mesh (74 micron) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified reference material approximately every 15th to 20th sample.

Qualified Persons

Blackrock's exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company's strategic plans; the Company's drill program at Tonopah West and the anticipated objectives and results therefrom; the Company's objective to connect the DPB and NW step-out areas; the Company's de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling geological information projected from sampling results; and the potential quantities and grades of the target zones and the potential addition of new high-grade tonnage to the Company's existing mineral resource estimate.

These forward-looking statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company's operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company's ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption "Risks Factors" in the Company's most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information, Contact:

Andrew Pollard
President and Chief Executive Officer
(604) 817-6044
info@blackrocksilver.com

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Silver Crown Royalties Announces Closing of Second Tranche of its Non-Brokered Private Placement

Silver Crown Royalties Announces Closing of Second Tranche of its Non-Brokered Private Placement

(TheNewswire)

Silver Crown Royalties

TORONTO, ON TheNewswire - March 31, 2025 Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) (" Silver Crown ", " SCRi ", or the " Company ") is pleased to provide an update on its non-brokered offering of units ("Units ") that was previously announced on February 6, 2025 (the " Offering ").

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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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