Horizon targets June resource upgrade following Burbank assays

Mining.com.au

Written by Amy Rotman

Horizon Minerals (ASX:HRZ) has completed 75% of the 15,000m phase one drill program at the Burbanks gold project in the Western Australian Goldfields, with assays returning ‘high grade’ hits.

Phase one of this drill program comprises 45 holes, with 36 holes completed to date. Drilling resumed following the Christmas break and is currently ongoing to complete phase one of the program.

Hole 25HBBD026 intersected several mineralised zones down hole, including 2m @ 235.7 grams per tonne gold from 248.31m, including 1.16m @ 396.62g/t gold from 248.31m and 5.08m @ 2.13g/t gold from 258.1m.

Two metallurgical holes have also been completed to support the mine feed planning for the Black Swan Processing Hub. The testwork from these drillholes is currently underway, with results pending.

CEO Grant Haywood says that “the latest assays from Burbanks build on the December 2025 update, with additional high-grade intercepts reinforcing the consistency of mineralisation and supporting the company’s strategy to advance the project and increase feed to the company’s 100% owned Black Swan processing plant”.

Underground mining at Burbanks historically produced 324,000 ounces @ 22.7g/t gold. The company also has a JORC (2012) mineral resource of 6.1 million tonnes grading 2.4g/t gold for 466,000 ounces.

Horizon will continue to update the market as phase one results become available. All assay results are expected by the end of the March 2026 quarter. Once these are complete, the company will be able to finalise the updated mineral resource estimate in the June 2026 quarter.

Phase two drilling for 15,000m will commence in the first half of 2026, aimed as extensional drilling to further grow the resource base at Burbanks.

Horizon Minerals is progressing to become a standalone gold producer, with assets located in the West Australian goldfields.

The company is attending the RIU Explorers Conference in Fremantle, Western Australia, held from 17-19 February 2026.

Read the full Mining.com.au article here.