In a major coup for its ambitious growth plans, Horizon Minerals has struck spectacular visible gold and eye-wateringly high grades at its Burbanks gold project in Western Australia's prolific Goldfields region.
Monster Grades and Visible Gold Uncovered
The company's ongoing two-stage, 30,000-metre drilling program has delivered one of its most stunning results to date: a remarkable intercept grading an incredible 5,848 grams per tonne (g/t) gold from a depth of 259 metres. This exceptional find was part of a broader high-grade hit of 0.96 metres at 1,762 g/t gold from the same depth.
Horizon reports that coarse, visible gold has been clearly observed in unassayed drill core, hosted within quartz-carbonate veins cutting through sheared basalts along the Burbanks Shear structure. The drilling, which began in late June, is focused on infill work to upgrade confidence in the existing resource and has successfully targeted zones south of the historic Main Lode and the Burbanks North resource.
Program Progress and Strategic Implications
To date, 35 holes for over 10,000 metres have been completed, representing two-thirds of the program's first phase. Assays for the latest 10 holes are in, with results from the remaining 20 expected through to March. The results have confirmed the continuity of gold veins and point to potential extensions beyond the current resource boundaries, particularly in the gap between Main Lode and Burbanks North.
The Burbanks project currently hosts a resource of 6.1 million tonnes at 2.4 g/t gold for 466,000 ounces. The site has a rich history, having previously produced 324,000 ounces of underground vein gold at a phenomenal average grade of 22.7 g/t.
"The Burbanks resource drilling continues to deliver, with spectacular high-grade intersections announced today," said Horizon Minerals' Managing Director and CEO, Grant Haywood. "The drilling program unequivocally highlights the exceptional grade potential of the system, which significantly underpins our strategy to increase high-grade, high-margin feed to our 100% owned Black Swan processing plant."
Pathway to Becoming a Self-Sustaining Producer
Located just 9 kilometres south of Coolgardie, the Burbanks project is strategically positioned near established infrastructure. It is a key pillar in Horizon's plan to become a fully self-sustaining gold producer in WA's Eastern Goldfields.
The company is fast-tracking the refurbishment of its recently acquired Black Swan facility, converting it from a former nickel operation into a gold treatment plant. The target for first gold treatment and initial production is set for the end of 2026. A prefeasibility study for Black Swan remains on schedule for this quarter.
Beyond Burbanks, Horizon's portfolio includes the Boorara open cut deposit near Kalgoorlie's Super Pit, which contains 428,000 ounces at 1.27 g/t. Ore from Boorara is currently processed at the Norton Gold Fields' Paddington mill, generating $35.8 million in revenue for the September quarter alone.
Backed by a total resource base of 1.8 million ounces and cash flow from Boorara, Horizon is building strong momentum to establish itself as a new mid-tier gold producer in Western Australia.
