A key focus for the Company is on near term production and exploration upside within our 1,100km2 tenement package with up to three drill rigs operating as part of the large-scale new discovery and project generation exploration program. Horizon holds numerous multi - commodity assets including listed investments in the world class 1.8Bt Richmond vanadium project in northwest
Primary activities during the Quarter included exploration field work at the core Greater Boorara Cannon -
In addition, the Company has completed resource modelling and mine optimisation studies for Ore Reserve estimation, advancement of the high-grade Cannon, Penny's Find and
During the Quarter, mining approval was received for the Cannon underground development with Penny's Find already approved for potential sequential mining and production.
During the Quarter, the Company prioritised development studies on the high-grade low tonnage underground projects at Cannon, Penny's Find and
The advanced Cannon gold project is located 30km east-southeast of Kalgoorlie-Boulder and 15km east of Boorara on existing roads.
Regionally, Cannon is in the western part of the Bulong ultramafic complex in the Boorara Domain. The Bulong complex consists of 5km thick sequence of komatiitic lava flows made up of a thick serpentinised peridotite in the centre of the complex, flanked by thin spinifex-textured komatiitic flows at the top of the sequence. High-Mg basalts and interflow sediments are intercalated with the thin flow facies komatiites. Komatiitic basalt and high-Mg basalts have a variety of textures which include pillowed, pyroxene spinifex textured and variolitic textured.
The Cannon mineralisation is structurally controlled and strikes north-easterly, dipping steeply to the north-west; higher grade zones within the mineralised envelope appear to have a steep northerly plunge. Gold-related alteration consists of biotite-calcite-chlorite-pyrite alteration with an inner core of albite-silica-carbonate-biotite-pyrite-gold replacement of the high Mg basalt and intermediate intrusions. The Cannon gold deposit is hosted within a sequence of ultramafic and high-Mg basaltic rocks intruded by a mafic-intermediate suite of lamprophyre dykes, and rarer dacitic dykes.
Open pit mining was completed in
Development of the adit began in
The Company acquired the project in 2021 and completed a detailed review of all geological information enabling compilation of an updated Mineral resource estimate for the underground deposit immediately beneath the existing open pit In the
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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:
Managing Director
T: +61 8 9386 9534
E: jon.price@horizonminerals.com.au
Media Relations -
T: +61 422 602 720
E: michael.vaughan@fivemark.com.au
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