Summary of Gold Mineral Resources
Confirmation
The information in this report that relates to Horizon’s Mineral Resources estimates is extracted from and was originally reported in Horizon’s ASX announcements “Intermin’s Resources Grow to over 667,000 Ounces” dated 20 March 2018, “Rose Hill firms as quality high grade open pit and underground gold project” dated 8 December 2020, “Updated Boorara Mineral Resource Delivers a 34% Increase In Gold Grade” dated 27 April 2021, “Penny’s Find JV Resource Update” dated 14 July 2021, “Updated Crake Resource improves in quality” dated 7 September 2021, “Jacques Find – Peyes Farm Mineral Resource update” dated 15 September 2021, “Kalpini Gold Project Mineral Resource Update” dated 28 September 2021, “Cannon Gold Project Mineral Resource Update dated 3 November 2021 and “Gold Resources Increase to 1.24Moz” dated 28 September 2022, each of which is available at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in those announcements continue to apply and have not materially changed. The Company confirms that the form and context of the Competent Person’s findings in relation to those Mineral Resources estimates or Ore Reserves estimates have not been materially modified from the original market announcements.
Summary of Silver / Zinc Mineral Resources
Nimbus All Lodes (bottom cuts 12g/t Ag, 0.5% Zn, 0.3g/t Au)
Nimbus high grade silver zinc resource (500g/t Ag bottom cut and 2,800g/t Ag top cut)
Confirmation
The information is this report that relates to Horizon’s Mineral Resources estimates on the Nimbus Silver Zinc Project is extracted from and was originally reported in Intermin’s and MacPhersons’ ASX Announcement “Intermin and MacPhersons Agree to Merge – Creation of a New Gold Company Horizon Minerals Ltd” dated 11 December 2018 and in MacPhersons’ ASX announcements “Quarterly Activities Report” dated 25 October 2018, “New High Grade Nimbus Silver Core Averaging 968 g/t Ag” dated 10th May 2016 and “Nimbus Increases Resources” dated 30th April 2015, each of which is available at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in those announcements continue to apply and have not materially changed. The Company confirms that the form and context of the Competent Person’s findings in relation to those Mineral Resources estimates have not been materially modified from the original market announcements.
Competent Person’s Statements
Boorara
The information in the report that relates to the Estimation and Reporting of Gold Mineral Resources at the Boorara Deposit is based upon information compiled by Mr Mark Drabble B.App.Sci.(Geology), a Competent Person who is a current Member of the Australian Institute of Mining and Metallurgy (MAusIMM) and a Member of the Australian Institute of Geoscientists (MAIG). Mr Drabble is a Principal Geological Consultant at Optiro Pty Ltd. and an independent consultant to Horizon Minerals Ltd (HRZ). Mr Drabble has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Drabble consents to the inclusion in the report of matters based on his information in the form and context in which it appears.
Golden Ridge
The information in the report to which this statement is attached that relates to the Estimation and Reporting of Gold Mineral Resources at the Golden Ridge North and Monument deposits is based on information compiled by Mr Stephen Godfrey, a Competent Person, who is a current Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM 110542) and Member of the Australian Institute of Geoscientists (MAIG 3993).
Mr Godfrey is the Resource Development Manager for Horizon Minerals Ltd and has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Godfrey consents to the inclusion in the report of matters based on the information in the form and context in which it appears.”
Cannon
The information in the report related to the Cannon Mineral Resource estimate is based on work completed by Mr Dave O’Farrell: BSc (Hons), MAusIMM, Exploration Manager for Horizon Minerals Ltd and Mr Stephen Godfrey: BSc (Hons), FAusIMM, MAIG, Resource Development Manager for Horizon Minerals Ltd. Mr O’Farrell was responsible for compiling and reviewing the drilling, sampling and quality data for the Cannon deposit. Mr Godfrey was responsible for the review and update of the geological model, mineralisation interpretations, resource estimation, classification and reporting.
Messrs O’Farrell and Godfrey have sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr O’Farrell and Mr Godfrey consent to the inclusion in the report of matters based on their information in the form and context in which it appears.
This MRE includes Inferred Mineral Resources, which are unable to have economic considerations applied to them, nor is there certainty that further sampling will enable them to be converted to Indicated or Measured Mineral Resources.
Penny’s Find
The information in the report to which this statement is attached that relates to the Estimation and Reporting of Underground Gold Mineral Resources at the Pennys Find deposit is based on information compiled by Mr Stephen Godfrey, a Competent Person who is a current Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM 110542) and Member of the Australian Institute of Geoscientists (MAIG 3993). Mr Godfrey is the Resource Development Manager for Horizon Minerals Ltd and has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Godfrey consents to the inclusion in the report of matters based on the information in the form and context in which it appears.
Kalpini
The information in this report related to the Kalpini Mineral Resource estimate is based on work completed by Mr Dave O’Farrell: BSc (Hons), MAusIMM, Exploration Manager for Horizon Minerals Ltd and Mr Stephen Godfrey: BSc (Hons), FAusIMM, MAIG, Resource Development Manager for Horizon Minerals Ltd. Mr O’Farrell was responsible for drilling, sampling and data quality at the Kalpini deposits. Mr Godfrey was responsible for the development of the geological model, mineralisation interpretations, resource estimation, classification and reporting.
Messrs O’Farrell and Godfrey have sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr O’Farrell and Mr Godfrey consent to the inclusion in the report of matters based on their information in the form and context in which it appears.
This MRE includes Inferred Mineral Resources, which are unable to have economic considerations applied to them, nor is there certainty that further sampling will enable them to be converted to Indicated or Measured Mineral Resources.
Jacques Find – Peyes Farm
The information in this report related to the Jacques Find – Peyes farm Mineral Resource estimate is based on work completed by Mr Dave O’Farrell: BSc (Hons), MAusIMM, Exploration Manager for Horizon Minerals Ltd and Mr Mark Drabble: B.App. Sci. (Geology), MAusIMM, MAIG, Principal Consultant at Optiro Pty Ltd. Mr O’Farrell was responsible for database and data quality at the Jacques Find and Peyes Farm deposits. Mr Drabble was responsible for the development of the geological model, mineralisation interpretations, resource estimation, classification and reporting.
Mr O’Farrell and Mr Drabble have sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr O’Farrell and Mr Drabble consent to the inclusion in the report of matters based on their information in the form and context in which it appears.
Coote
The information in the report to which this statement is attached that relates to the Estimation and Reporting of Gold Mineral Resources at the Coote deposit is based on information compiled by Mr Stephen Godfrey, a Competent Person, who is a current Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM 110542) and Member of the Australian Institute of Geoscientists (MAIG 3993).
Mr Godfrey is the Resource Development Manager for Horizon Minerals Ltd and has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Godfrey consents to the inclusion in the report of matters based on the information in the form and context in which it appears.
Mr Godfrey undertook a site visit to the Coote deposit on 19 July 2022 to inspect the Coote prospect and has regularly reviewed and inspected the drilling and sampling protocols and practice during Horizon Drill programs. No material issues or risks pertaining to the MRE update were identified, observed, or documented during the visit.
Other
Information that relates to exploration results is based on information compiled by David O’Farrell who is the Exploration Manager of Horizon Minerals. Mr O’Farrell is a Member of The Australian Institute of Mining and Metallurgists (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking, to qualify as Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr O’Farrell consents to the inclusion in the document of the information in the form and context in which it appears.
Forward Looking and Cautionary Statements
Some statements in this report regarding estimates or future events are forward looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “nominal”, “conceptual” and similar expressions. Forward looking statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward looking statements may be affected by a range of variables that could cause actual results to differ from estimated results and may cause the Company’s actual performance and financial results in future periods to materially differ from any projections of future performance or results expressed or implied by such forward looking statements. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licenses, permits and other regulatory approvals required in connection with mining and third party processing operations, competition for among other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rate, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, the demand for and availability of transportation services, the ability to secure adequate financing and management’s ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward looking statements will prove to be correct.
Statements regarding plans with respect to the Company’s mineral properties may contain forward looking statements in relation to future matters that can only be made where the Company has a reasonable basis for making those statements.
Announcements have been prepared in compliance with the JORC Code (2012) and the current ASX Listing Rules.
The Company believes that it has a reasonable basis for making the forward-looking statements in the announcements, including with respect to any production targets and financial estimates, based on the information contained in all ASX announcements.