Horizon Minerals (ASX:HRZ) has commenced a drilling program at its Burbanks Gold Project in Western Australia. The program aims to advance the asset towards development readiness. Horizon Minerals is focused on becoming a standalone gold producer by refurbishing and repurposing its Black Swan processing plant into a gold plant with a throughput of 1.5 million tonnes per year.
The first phase of drilling, encompassing 15,000 metres, is designed to improve resource continuity and confidence. Results from this phase are anticipated in the third quarter of 2025. The company expects this phase to enable the generation of ore reserves and the development of a detailed mining plan. A second phase, also comprising 15,000 metres, will target areas along strike and down-dip from known high-grade lodes.
A prefeasibility study (PFS) is underway to develop a five-year mine plan to supply the Black Swan plant. Horizon anticipates that Burbanks will significantly contribute high-grade ore feed to this operation. CEO Grant Haywood noted the growth potential shown by past drilling at Burbanks along strike and at depth. Haywood stated that refurbishment studies for Black Swan are being undertaken concurrently, with the aim of the first gold pour by the end of 2026.
The Burbanks Project has historically produced 324,000 ounces of gold at 22.7 grams per tonne. This is in addition to the existing resource of 6.1 million tonnes at 2.4 grams per tonne gold for 466,000 ounces.
