Horizon Minerals Limited (ASX: HRZ) has announced an updated gold Ore Reserve Estimate for its projects near Kalgoorlie-Boulder, in the heart of the Western Australian goldfields. Horizon Minerals is focused on near-mine exploration in key regional mining centres, aiming to become a sustainable gold producer. The company also owns the processing infrastructure required for this strategy.
The updated estimate reveals a Gold Ore Reserve of 4.3 million tonnes at 1.54 g/t for 214,000 ounces. This represents a 160% increase in contained gold compared to the FY2025 Ore Reserve, equivalent to an additional 131,615 ounces. The update incorporates a re-optimisation and Pre-Feasibility update for the Boorara project, assessed at a A$4,500 gold price, which generated positive economic results. Additionally, maiden Ore Reserves and Pre-Feasibility studies were completed for the Crake and Kalpini open pit Mineral Resources, also optimised at a A$4,500 gold price.
Pre-Feasibility Studies for Boorara, Crake, and Kalpini included dilution analysis, open pit optimisation and design, production scheduling, and cash-flow assessment. All future ore processing will occur through the Black Swan Project Processing Hub (BSPH). These studies, undertaken by Mining Plus Pty Ltd, indicate positive project value, excluding any capital related to the BSP processing hub. The completion of these studies, in conjunction with studies for neighboring deposits, supports the capital costs and capacity of the proposed 2.2Mtpa BSP processing hub.
Mr. Grant Haywood, Managing Director and CEO, stated that the updated Ore Reserve Estimate provides a reliable source of mill feed for the company’s BSPH Project. He further noted that the improved confidence in the reserve base reflects the quality of the orebodies and the success of the technical team. Horizon anticipates additional resource conversions from the broader project pipeline over the next 12 months and is well-positioned to deliver consistent production.
