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Highlights
- Horizon kicks off 30,000m drill program at Burbanks
- Prefeasibility Study targeting five-year mine plan
- First gold pour targeted by end of 2026
Horizon Minerals (ASX:HRZ) has commenced an ambitious two-phase drilling program at its Burbanks Gold Project in Western Australia, a strategic step to progress the site toward development readiness. The initiative involves 30,000 metres of drilling, divided equally across two phases, and is designed to increase resource definition, unlock further growth potential, and contribute to a broader development strategy.
The first phase of the campaign, consisting of 15,000 metres, is focused on extensional and infill drilling to improve resource continuity and confidence. This will be critical in shaping ore reserve estimates and crafting a comprehensive mining plan. The results from this phase are anticipated in Q3 2025, positioning Horizon to move toward production milestones more confidently.
Following this, the second phase will also span 15,000 metres and target strike extensions and deeper sections of known high-grade mineralised zones. This phase is expected to provide further insights into the untapped potential of the Burbanks system, known for its historically high-grade output.
With a market capitalisation of approximately $120.83 million, Horizon Minerals is aiming to become an independent gold producer. The company is repurposing its Black Swan processing plant, targeting a gold throughput of 1.5 million tonnes per annum. The refurbished facility is central to the company’s long-term production roadmap and will be supported by high-grade ore feed from Burbanks.
A Prefeasibility Study (PFS) is already underway to chart a five-year mine life, optimising the feed for the Black Swan plant. Horizon expects to complete the PFS by Q4 2025. Early indicators suggest Burbanks could play a vital role in this plan, given its strong historical production of 324,000 ounces at an impressive 22.7 grams per tonne and an existing resource of 6.1 million tonnes @ 2.4g/t for 466,000 ounces.
The company's CEO has underscored the significant upside at Burbanks, citing strong historical drilling results and growth potential both along strike and at depth. Concurrently, refurbishment work for the Black Swan facility is progressing, with Horizon targeting its first gold pour by the end of 2026.
Although Horizon Minerals is not currently a constituent of the ASX200 stocks, its continued strategic execution and development activities could position it for future inclusion.
Investors and market observers will be watching closely as Horizon Minerals presents its developments at the Noosa Mining Investor Conference from 23–25 July, where further updates on the project’s progress may be unveiled.
