Horizon Minerals (ASX:HRZ) reveals a total mineral resource for the newly merged company’s projects near Kalgoorlie-Boulder in Western Australia’s goldfields region.
In October 2024, Horizon announced plans to merge with Poseidon Nickel to create a new Western Australian mid-cap gold producer. Following the merger, the company added the Black Swan, Lake Johnston, and Windarra nickel resources as well as associated infrastructure to the resource portfolio.
As a result, the total resource currently stands at 1.8 million ounces of gold, 20.2 million ounces of silver, 104,000 tonnes of zinc, 422,000 tonnes of nickel, and 7,800 tonnes of cobalt.
Horizon, which has a market capitalisation of $128.4 million, says the gold resources are underpinned by the larger cornerstone Boorara and Burbanks assets.
The changes to the company’s resources include the 422,000 tonnes of nickel from the acquired Poseidon Nickel assets. The acquired nickel resources are mine ready for the next upswing in the nickel price, which sits at US$15,665 per tonne ($24,368.45).
The nickel price has increased 2.39% since the beginning of this year, according to Trading Economics.
CEO Grant Haywood says the completed merger with Poseidon Nickel brings in the surface infrastructure including the Black Swan plant to refurbish and convert to a gold plant.
“We also look forward to increasing our gold resources through further merger and acquisition opportunities and organically through drilling which will commence this current June 2025 quarter,” Haywood says.
As Mining.com.au previously reported, Horizon is in expansion mode after achieving the first gold pour from the Boorara and Phillips Find projects in Western Australia. The first round of sales from both projects generated around $12.85 million in revenue.
Horizon Minerals is an emerging mid-tier gold producer with a portfolio of gold assets in the Western Australian goldfields region.
Write to Aaliyah Rogan at Mining.com.au
Images: Horizon Minerals
