Australian gold producer Horizon Minerals Ltd. completed an 18,000-meter drill program at the Boorara gold project in Western Australia.
Drilling concluded in December 2019, and results are expected in the March quarter, according to a Jan. 7 news release.
The company aims to start mining in the June quarter and achieve first gold production in the September quarter.
An updated estimate is anticipated in the June quarter. A production plan for the next four to five years is expected to be included in a feasibility study scheduled in the December quarter.
Horizon Minerals said its main objective is to develop a long-term production profile centered on Boorara complemented by higher-grade open pit and underground satellite deposits near a processing facility.
In November 2019, the company dropped its planned A$55 million purchase of Focus Minerals Ltd.'s Coolgardie gold project in Western Australia.