Nimbus Silver - Zinc Project Update
Perth, Aug 25, 2020 AEST (ABN Newswire) - Horizon Minerals Limited (
ASX:HRZ) is pleased to provide an update on the Nimbus silver-zinc project, adjacent to the Boorara gold mine, 15km east of Kalgoorlie-Boulder in the goldfields of Western Australia.
Commenting on the Nimbus silver-zinc project, Horizon Managing Director Mr Jon Price said:
"With silver and zinc prices showing sustained increases in recent times, the Company is now assessing all options to create value from this historically successful mining operation at Nimbus. We see significant opportunity to develop the high grades lodes at Nimbus either on a stand-alone basis or in joint venture with an expert group. There remains potential for the project to grow in scale and quality with further exploration beyond the current mineralised envelopes. Any strategic option we elect to pursue for Nimbus will take into account this growth and future development potential."
The Company has now commenced a Strategic Review of the project inclusive of a detailed assessment of all previous Feasibility Study work completed to 2017. Several expressions of interest have been received to acquire or earn-in to the project and these options will be reviewed in conjunction with an economic evaluation at current high silver and zinc prices.
About the Nimbus silver-zinc project
The Nimbus Silver-Zinc Project is located 15km east of the City of Kalgoorlie-Boulder, Western Australia, covers approximately 170km2 and is situated on Mining Leases, Exploration Licences and Prospecting Licences and include the Boorara gold project area.
Project highlights include:
- High grade silver resource of 260kt @ 774g/t Ag and 12.8% Zn contained in JORC 2012 Resources of 12.1Mt @ 52g/t Ag, 0.9% Zn and 0.2g/t Au
- Deposit remains open at depth and along strike with significant potential to increase existing silver-zinc resources with further drilling
- Significant regional exploration potential to find additional silver and other base metal deposits
- Close proximity to Kalgoorlie-Boulder and existing infrastructure
- Historical production of 3.6Moz of high-grade silver (352g/t)
To view tables and figures, please visit:
https://abnnewswire.net/lnk/23V1C215
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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