What's Happening?
Horizon Minerals has completed 75% of its phase one drill program at the Burbanks gold project in the Western Australian Goldfields, with assays revealing high-grade gold hits. The program, consisting of 45 holes, has seen 36 completed, with drilling
resuming after a holiday break. Notable results include a significant gold intersection in hole 25HBBD026. The company is conducting metallurgical tests to support mine feed planning for the Black Swan Processing Hub. Horizon aims to finalize an updated mineral resource estimate by June 2026, with phase two drilling set to commence in the first half of 2026 to expand the resource base.
Why It's Important?
The progress at the Burbanks gold project is crucial for Horizon Minerals as it seeks to establish itself as a standalone gold producer. The high-grade assay results reinforce the project's potential and support the company's strategy to increase production capacity at its Black Swan processing plant. This development is significant for the gold mining industry, as it highlights ongoing exploration and resource expansion efforts in a historically productive region. The successful completion of the drilling program and subsequent resource upgrade could enhance Horizon's market position and attract further investment.
What's Next?
Horizon Minerals plans to continue updating the market as phase one results are finalized by the end of March 2026. The company will then proceed with phase two drilling, aimed at further expanding the resource base at Burbanks. This next phase is expected to commence in the first half of 2026, focusing on extensional drilling. The outcomes of these efforts will be critical in determining the future production capabilities and economic viability of the Burbanks project, potentially influencing Horizon's strategic decisions and investor interest.
