Horizon Minerals (ASX:HRZ) said it received the proceeds from the processing of the first 50,604 tonnes of ore from the Boorara gold project in Western Australia under a sale agreement with Norton Gold Fields' Paddington Mill, according to a Monday Australian bourse filing.
A stockpile of 50,604 dry tonnes at 0.8 grams-per-tonne grade for 1,163 ounces sold at an average gold price of AU$4,256 per ounce, generating around AU$5 million in revenue.
The company said the processing of the first 37,000 tonnes of ore from the Phillips Find joint venture gold project in Western Australia with BML Ventures was completed under the 200,000-tonne toll milling agreement with FMR Investments to treat the ore from February to June at the Greenfields mill.
The first ore parcel from Phillips Find consisted of 37,624 dry tonnes at 1.5 g/t for 1,675 ounces at an average price of AU$4,728 per ounce.
The company also reported that a new toll milling agreement was executed to treat 70,000 tonnes of ore from Phillips Find in September and October, to be processed at Focus Minerals's Three Mile Hill processing plant.
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