Horizon Minerals (ASX:HRZ) has begun an extensional and infill drilling program at the Burbanks Gold Project in Western Australia, to progress the asset towards being development ready.
Phase one, comprising 15,000m of drilling, aims to enhance resource continuity and confidence. The results are expected to be returned in Q3 2025. This will facilitate the generation of ore reserves and the development of a mining plan.
Meanwhile, phase two, comprising 15,000m, will target along strike and down dip of known high-grade lodes.
Horizon, which has a market capitalisation of $120.83 million, is focused on becoming a standalone gold producer by refurbishing and repurposing its Black Swan processing plant into a gold plant with a nominal throughput of 1.5 million tonnes per year.
A Prefeasibility Study (PFS) is being conducted to develop a five-year mine life plan to fill the plant, and Horizon believes that Burbanks will make a meaningful contribution of high-grade ore feed. The PFS is expected to be completed in Q4 2025.
CEO Grant Haywood says past drilling at Burbanks has shown the growth potential of this mineralised system along strike and at depth.
“Refurbishment studies for Black Swan are being undertaken concurrently with the aim of first gold pour by the end of 2026,” Haywood says.
The Burbanks Project has historically produced 324,000 ounces of gold @ 22.7 grams per tonne gold. The historical production is in addition to the existing resource of 6.1 million tonnes @ 2.4g/t gold for 466,000 ounces.
Horizon Minerals will be attending the Noosa Mining Investor Conference, held between 23-25 July, at the Peppers Noosa Resort.
Mining.com.au is an official media partner of this year’s conference.
Write to Aaliyah Rogan at Mining.com.au
Images: Horizon Minerals
