Horizon delivers bonanza gold grades at Coolgardie play

Horizon Minerals has continued to intersect bonanza-grade gold in drilling at its Burbanks gold project, south of Coolgardie in Western Australia, with assays confirming another stellar intercept grading up to 396.6 grams per tonne (g/t).

The latest results came from the remaining holes drilled in late 2025 and have built directly on to the ultra-high-grade numbers unveiled in December.

The standout result of 2m at a whopping 235.7g/t gold from 248m depth included a 1.16-metre section grading 396.6g/t gold within a breccia zone of coarse visible gold. 

The intercept also sits close to the previously reported bonanza hit of 5848g/t gold over 0.3m, revealed late last year. 

The returned assays stem from the company’s phase one infill drilling blitz launched in November, part of the two-stage 30,000m program, which is now 75 per cent complete.

Assays from all the holes drilled in 2025 have now received, with the company now back on the rigs after the Christmas break to finish off the remaining nine holes in the first phase.  

Horizon says that two metallurgical holes have also been completed at Burbanks to support mine-feed planning for its Black Swan processing hub, with test work underway to determine gold recoveries.

The company says its results highlight the deposit’s high-grade potential, with drilling focused on upgrading confidence in the mineralisation ahead of a resource upgrade targeted for next quarter.

The remaining phase one assays, which are expected to be completed by the end of March, will be backed up by a phase two extensional drilling campaign, comprising a further 15,000m of drilling along-strike and down-dip of the current 466,000-ounce resource.

The infill program will target continuity in the gap between the Main Lode and Burbanks North resources, south of the Main Lode workings, and within the Burbanks North area.

Horizon Minerals managing director and CEO Grant Haywood said: “The Burbanks resource drilling continues to deliver, with spectacular high-grade intersections announced today including gold grades of up to 5,848g/t. 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.”

The broader project area has a storied history of gold production as one of the Goldfields’ gems at Coolgardie. Underground mining at site previously yielded 324,000 ounces of vein gold at a whopping 22.7g/t gold. The historic mine currently hosts a JORC 2012 Mineral Resource of 6.1 million tonnes at 2.4g/t gold for 466,000 ounces. 

Burbanks sits in a prime location near established infrastructure, power and water and close to Horizon’s recently acquired Black Swan facility, which is undergoing fast-tracked refurbishment to convert the former nickel plant to gold treatment. 

First gold output from Black Swan is targeted for late 2026 as a part of Horizon’s hub-and-spoke strategy in the Eastern Goldfields, supplying high-grade ore to Black Swan from multiple regional deposits such as Burbanks and its Boorara project. 

In the meantime, ore from Boorara continues to generate revenue for Horizon through a toll milling agreement at Norton Gold Fields’ Paddington mill.

Backed by its 1.8-million-ounce total gold resource base and cash flows from current operations, Horizon appears to be advancing towards its goal of becoming a self-sustaining gold producer and an emerging mid-tier gold player in Western Australia’s Goldfields.

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