Horizon Minerals to shed Nimbus project

by Jonathan Adams
Horizon Minerals

The miner is looking to discard the silver-zinc project to take advantage of the higher prices

Freshly minted WA gold producer Horizon Minerals wants to dust off the high-grade Nimbus silver-zinc project to take advantage of higher prices.

Nimbus — adjacent to the company’s Boorara gold mine near Kalgoorlie — produced 3.6 million ounces of silver grading 352 grams per tonne (g/t) of ore between 2003 and 2007.

But with a current in-ground resource of 20.2 million ounces of silver and 100,000 tonnes of zinc there’s plenty of opportunity here for divestment, joint venture, or standalone development.

Several ‘expressions of interest’ from third parties are currently under review, Horizon says.

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, managing director Jon Price says.

We see significant opportunity to develop the high-grade lodes at Nimbus either on a stand-alone basis or in joint venture with an expert group. There [also] remains potential for the project to grow in scale and quality with further exploration beyond the current mineralised envelopes, Price says.

Booming prices also inspired Mount Burgess Mining to review two high-grade silver zones at the company’s polymetallic Kihabe deposit in Botswana.

Mount Burgess reckons there’s potential for further silver mineralisation to be identified within these zones.

The explorer wants to punch in additional drill holes around these high grade parts of the deposit, which currently includes 3 million ounces of silver as part of a bigger 14.4-million-tonne zinc-lead-silver resource.

Equus Mining has picked up high-grade silver-gold rock chips at the ‘Pegaso’ targets, part of the advanced Cerro Bayo project in Chile.

Fifty-five samples were collected, with results confirming high-grades across all three targets — including a peak value of 4.6g/t gold and 2,810g/t silver.

A 25-hole (5,500m) diamond drilling program is currently in the works, Equus says.

These high-grade results provide us with further confidence of the compelling brownfield potential at the Cerro Bayo project, particularly considering these targets sit along trend from several of the more significant, historical high grade silver and gold producing mines, managing director John Braham says.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more