First Gold Pour - Phillips Find Gold Project
Perth, Feb 26, 2025 AEST (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.
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