Horizon has also applied for five new Exploration Licences in proximity to the Charter tenements.
HIGHLIGHTS
- Opportunistic, low cost assemblance of a significant ground position in one of
- Acquisition cost of
- The two acquired projects are granted Exploration Licences (E70/5980, E70/5981) located 5km north and 10km southwest of
- E70/5980 and E70/5981 are situated along strike from the world-class Greenbushes mine,
- Located within favourable geology and structure, particularly the regional ~20km-wide
- Closer to
- In addition, four small Exploration Licences (ELA's 70/6551-6554) have been applied for close to
- Another tenement (ELA70/6555), covering approximately 214km2, has been applied for 40km northeast of
- The Bridgetown-Greenbushes package has received little modern exploration and a process of data acquisition, compilation and review is being undertaken ahead of initial field work.
Commenting on the lithium acquisition, Chief Executive Officer Mr
"We are very pleased to have acquired and pegged this prospective ground in a world class lithium province with strong potential for pegmatite-hosted lithium mineralisation. We continually assess opportunities to add value accretive projects to the business and moved quickly to secure this low cost opportunity when it presented. These projects build upside and diversification to our portfolio of gold and silver-zinc projects with minimal distraction from our current focus. We will progress these projects in parallel with our commitment to transitioning to a gold producer in early 2024, commencing from our Cannon underground gold project."
Overview
The Bridgetown-Greenbushes prospects are found within the Balingup Metamorphic Belt which has been intruded by numerous pegmatite dykes including the Greenbushes pegmatite. Greenbushes is also closely related to the regional
The prospect areas acquired and pegged are considered early stage as very little historic exploration work for lithium or pegmatites has been undertaken, despite the interpreted prospectivity. Typical of the southwest area, the tenure contains a high level of land use (e.g. farming, state forest and various infrastructure) and requires careful land management and community engagement. Other companies operate under similar environments and conditions in the Bridgetown-Greenbushes district.
Horizon remains firmly focussed on the Kalgoorlie assets and advancing the Cannon underground mining development and committing to our Kalgoorlie exploration. The Bridgetown-Greenbushes opportunity presented as an exciting, low cost addition to our multi-commodity portfolio requiring minimal change from our current strategic focus. It is also consistent with the Company's business model of regularly reviewing its portfolio and acquiring value accretive and/or highly prospective projects when they become available.
*To view project details, tables and figures, please visit:
https://abnnewswire.net/lnk/6L71B097
About
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of
Contact:
Chief Executive Officer
T: +61 8 9386 9534
E: grant.haywood@horizonminerals.com.au
Media Relations -
T: +61 422 602 720
E: michael.vaughan@fivemark.com.au
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