Horizon rakes in $3.6m from gold mining at Boorara

Horizon Minerals (ASX:HRZ) has generated $3.6m in net cash flow from the third toll milling campaign of Boorara ore at the Lakewood gold processing facility near Kalgoorlie, Western Australia.

50,274 tonnes of ore grading 1.62 grams per tonne (g/t) gold from the Crown Jewel, Regal East and Regal West trial pits was processed at the mill to produce 2,491 ounces of the precious metal.

Gold recovery was calculated at 95 per cent, well above the modelled recovery of 91 per cent.

The final milling campaign is scheduled to begin in mid-January, comprising the remaining high-grade ore and a parcel of low-grade material to test grade allocation.

Managing director Jon Price says the trial mining has greatly improved the company’s understanding of the Boorara ore body and identified the potential to grow the deposit along strike to the south and north along with depth potential below the 180m open pit limit that is currently being evaluated.

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Gold exploration

Yandal Resources (ASX:YRL) has doubled the strike length of bedrock mineralisation at its Gordons Dam prospect near Kalgoorlie to 1.5km after aircore drilling defined multiple new zones of gold.

Results are also pending from a three-hole diamond drill program. Data from this program will be used to assist with the compilation of geological wireframes and interpretation for inclusion in a maiden resource estimate.

Drilling at the Malone prospect about 300m southwest of Gordons Dam has also intersected significant gold hits such as 2m at 4.73g/t gold within a 9m interval grading 1.39g/t gold from 58m and 10m at 0.18g/t gold from 59m.

A new 10,000m RC drilling program to test multiple targets has begun.

Meanwhile, drilling at E2 Metals’ (ASX:E2M) Mia discovery has intersected further high-grade mineralisation along with the highest silver grades at its Conserrat project in Argentina to date.

Notable results from the Phase 2 drilling are 11.2m at 4.2g/t gold and 535g/t silver from a depth of 51m that includes a 1.1m interval grading 21g/t gold and 3,119g/t silver from 59.1m and 3.4m at 28g/t gold and 1,843g/t silver from 49.1m.

This drilling extended high-grade mineralisation 25m to the east and is open at depth and down-plunge to the west.