Moving towards a new horizon to become Western Australia’s next standalone gold producer.
Horizon Minerals Limited (ASX: HRZ) is an emerging mid-tier gold producer with an extensive portfolio of highly prospective gold projects located in the heart of the world class Western Australian goldfields.
The Company was formed in June 2019 after Intermin Resources Limited finalised its merger with MacPhersons Resources Limited. The merged entity has a large resource base of over 1.24 million ounces of gold covering a total area of 1,100km², growth options in multiple commodities and a clear development and production strategy.
Horizon’s asset base holds 700,800oz of existing estimated gold Mineral Resources located within easy trucking distance of the 448,000oz Boorara deposit (over 1.15 million ounces of gold in total). The Company is actively exploring for new discoveries in the heart of the Western Australian Goldfields for gold and other commodities including Nickel-Cobalt, Silver-Zinc, PGEs and Lithium across its extensive land holdings. The Company also plans to monetise high grade assets into cashflow for the business.
The Company also holds a large interest in one of the world’s largest Vanadium projects, with the holding company Richmond Vanadium Technology that was listed on the ASX in December 2022. The company is a major shareholder of the company post listing and provided an inspecie distribution to Horizon shareholders.
MINE DEVELOPMENT
Horizon controls a number of projects that can be developed into a sequence of high grade, low tonnage underground mines in close proximity to existing infrastructure that can be monetised through toll milling. The underground projects include Cannon, Penny’s Find and Rose Hill.
Cannon resource of 32koz grading 4.3g/t Au with PFS completed and approvals well advanced.
Penny’s Find resource of 42koz grading 5.2g/t Au extension drilling planned for the 2H 2022.
Rose Hill underground resource of 75koz grading 4.6g/t Au with internal optimisation work underway.
GROWTH OPPORTUNITIES
Horizon holds a significant portfolio of advanced and greenfields exploration assets and is expected to continue to aggressively explore for resource extensions to existing mineralisation, new discoveries across multi-commodities and review further acquisitions within the goldfields region that can add value and fit with the development strategy.
The Company also has exposure to significant growth opportunities across other commodities including the world-class 1.8Bt Richmond vanadium project in central Queensland and the Nimbus silver-zinc-gold project.
+1.26Moz
Gold Mineral Resources
1,100km²
Large, strategic WA Goldfields landholding
~20,000m
CY23 drilling program focussed on resource growth potential
A$14.8M
Cash/investments to support growth strategy