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Highlights
- Horizon Minerals launches 30,000m drill campaign at Burbanks
- Prefeasibility Study targets first gold pour by end-2026
- Historical production and resource base bolster project outlook
Horizon Minerals (ASX:HRZ) has initiated a major new phase in its journey toward becoming a standalone gold producer, with a significant drilling campaign underway at the Burbanks Gold Project in Western Australia. This development aligns with the company’s broader strategic vision and could have a meaningful impact as part of the evolving narrative in the Australian gold space.
Expanding Confidence in Burbanks Resource Base
The two-phase drilling program at Burbanks, totaling 30,000 metres, marks a pivotal step in advancing the project to development-ready status. Phase one consists of 15,000 metres of extensional and infill drilling, designed to improve resource continuity and boost confidence levels in the mineral resource estimate. These results, anticipated in Q3 2025, will contribute to the creation of a detailed ore reserve and subsequent mining plan.
Phase two, also 15,000 metres, will explore mineralised zones along strike and at depth, targeting extensions of known high-grade lodes that could significantly enhance the project's long-term potential.
Strategic Role of Black Swan Processing Hub
Central to Horizon’s growth strategy is the refurbishment of the Black Swan processing plant. Once a nickel facility, the plant is being repurposed into a gold-focused plant with a proposed annual throughput of 1.5 million tonnes. A Prefeasibility Study (PFS) currently underway is assessing a five-year mine plan aimed at fully utilising the refurbished facility. The study is expected to be completed by Q4 2025, with the goal of commencing gold production by the end of 2026.
The contribution of high-grade feed from Burbanks is expected to play a vital role in this plant’s operational success. CEO Grant Haywood highlighted the strong historical drill results and potential for further discoveries at depth as key drivers of confidence in the asset.
Proven Legacy and Promising Future
Burbanks has a storied history, having previously delivered 324,000 ounces of gold at an average grade of 22.7 grams per tonne. This legacy complements the current resource of 6.1 million tonnes at 2.4 grams per tonne, translating to approximately 466,000 ounces. These figures provide a strong foundation as Horizon Minerals progresses toward development readiness.
Investors and stakeholders will also have an opportunity to hear more from the company at the upcoming Noosa Mining Investor Conference, taking place from July 23 to 25 at the Peppers Noosa Resort.
With a market capitalisation of approximately $120.83 million, Horizon Minerals is positioning itself to become a notable player in Australia’s gold mining landscape — with the Burbanks Project potentially serving as the catalyst for its emergence as a future gold producer.
