Horizon scopes out parties to acquire Yarmany East

Horizon Minerals (ASX:HRZ) is having ongoing discussions with various parties undertaking due diligence that have expressed interest in acquiring or earning in to the lithium rights at its Yarmany East Project in Western Australia. 

The various parties are currently undertaking due diligence work at Yarmany East.

In parallel, the $29.44 million market capitalisation company is planning more infill soil and rock chip sampling at its Bridgetown tenure in Western Australia, once access approvals have been received. 

Upon completion, an infill and extension auger program is planned, and subject to results, Horizon will conduct more drilling activities. 

A small first-pass site reconnaissance soil and rock chip sampling program was completed early November 2023 at Bridgetown, in which no anomalous lithium was uncovered in 3 rock chip samples taken. 

Roadside verge soil sampling was also conducted on 2 exploration licences centred 10km south-east of the Greenbushes mine. 

The company reports 33 samples were taken, with several areas returning anomalous lithium up to 91.9 parts per million lithium, against a background of about 20-24ppm lithium. 

Horizon Minerals Chief Executive Officer Grant Haywood says: “Although very early days at both our Yarmany East and Greenbushes lithium projects, it is pleasing to have begun reconnaissance and early-stage work to increase our understanding in these areas in preparation for future drill test programs, particularly at Yarmany East where we have previously identified approximately 14km of strike of unexplored lithium anomalies.”

Horizon Minerals is an emerging gold producer focused on its ‘highly prospective’ portfolio of projects in Western Australia’s Goldfields region. 

As of 31 December 2023, the company had $5.694 million cash and cash equivalents at hand, according to its latest quarterly report. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Horizon Minerals
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.