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Horizon Minerals (ASX:HRZ) Going Great Guns with its Regional Consolidation Strategy

Summary

  • Horizon’s regional consolidation strategy is focussed on formulating a strong pipeline of projects to ensure long-term sustainable gold production. 
  • The Company recently commenced several acquisitions and divestments undertakings in the Kalgoorlie region and Coolgardie region. 
  • Extensive drilling program is ongoing aimed at resource growth and new discovery. 

Stepping the regional consolidation strategy up a notch, Horizon Minerals Limited (ASX:HRZ) has announced several acquisitions and divestments geared towards strengthening its gold exploration potential in the Western Australian Goldfields. 

The recent undertakings are in tandem with the Company’s focus on building a strong portfolio of development assets underlying Horizon’s long-term sustainable gold production profile, which would be further bolstered via new discovery exploration program and large-scale resource growth. 

Working on that front, Horizon has added tenure of more than 600 square kilometres to the asset portfolio on major geological structures. Notably, all tenure is located within 75 kilometres of the proposed Boorara mill site for gold production.

ALSO READ: Horizon Minerals (ASX: HRZ) Embarks on 2021 Exploration Journey with Enormous Drilling Program

Let us look at Horizon’s acquisitions and divestments as it advances its regional consolidation strategy.

Source: HRZ ASX Update, 4 February 2021

Lens through Kalgoorlie region

A series of tenements were acquired and divested in Kalgoorlie region recently.

Source: HRZ ASX Update, 4 February 2021

Perkolilli 

At Perkolilli, the Company holds nine contiguous prospecting licences that sit within felsic volcanics. Perkolilli tenements contain 2.2km historic gold anomaly which has been poorly explored and lies adjacent to Mt Monger Fault. The Company plans to review as well drill test the anomaly in 2021. Meanwhile, the ground also offers greater exposure in the prospective Kanowna South and Balagundi areas. 

Parkeston and Kanowna South

Horizon added four new and contiguous prospecting licences at Parkeston and Kanowna South, with tenements lying on the Panglo Basin’s edge. Horizon has kickstarted target generation studies while initial drilling would also be undertaken in 2021. 

Kanowna West E26/220 and Broadarrow P24/5348

Horizon was granted E26/220 by ballot and straddles the Boorara Shear. Furthermore, the Company purchased P24/5348, which contains basalt and ultramafic lithologies and located near Broadarrow. 

Divestment of P24/5116

Horizon expurgated P24/5116 (at Windanya) for $200,000 in shares to Warriedar Mining Pty Ltd, acquired by TNT Mines Ltd (ASX:TIN). It has given Horizon 1.52 million shares in TIN. The Company has retained more prospective tenements at Capricorn with four years of extensions granted.

ALSO READ: Horizon Minerals (ASX: HRZ) Displays Flurry of Developments in December 2020 Quarter

Casting an eye on Coolgardie region

Phoenix underground goldmine

Horizon has recently acquired Phoenix (M15/119) underground goldmine for $80,000. The historic goldmine stretches over an area of 119 hectares. The historic gold mine shaft is reported to have historic gold production of 873 tonnes @ 57g/t Au (WAMEX A28645).

Source: HRZ ASX Update, 4 February 2021

Blue Dam prospect

The Blue Dam prospect consists of three small prospecting licences and is stationed 70 kilometres North-North West of Coolgardie. Significantly, Horizon purchased the prospecting licences from another private company.

P16/3121 and P16/3156-3157

The tenements sit between the Zuleika and Kunanalling Shear zones and do not have any significant reported mineralisation. Horizon has delineated the targets to be drill tested in 2021. 

Horizon recently divested E16/492 and E16/499 (Area 54 tenement group) to Gold Tiger Ltd. The more prospective Yarmany group has been the focus of exploration endeavours. 

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