Horizon Minerals acquires the Bulong South, Glandore and Cowarna gold projects in WA’s goldfields

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Horizon Minerals has reached an agreement with private mining company Aurenne Group Holdings to acquire the Bulong South, Glandore and Cowarna gold projects in the Western Australian goldfields for $5 million.

The projects comprise 24 granted mining, prospecting, exploration and miscellaneous licences covering an area of approximately 180km.

Bulong South, located 10km east of the 100% owned Boorara gold project, contains the development-ready Cannon gold project which Horizon said would now join the baseload Boorara project, Rose Hill, Binduli, Teal and Kalpini satellite deposits as core development projects under evaluation to underpin the proposed construction of a standalone processing plant at Boorara.

Glandore, located 14km east of Boorara, has multiple advanced open pit and underground exploration targets with historic drilling results awaiting follow up.

The Cowarna project, covering 138km2 , sits immediately east of the emerging Mt Belches gold project within Silver Lake Resource’s Mt Monger gold operation with walk up drill targets within the orogenic banded iron formation units to the southeast.

Managing Director Mr Jon Price said the company has identified significant exploration potential at all project areas with target review and drill planning now underway and drilling to commence in the September.

“Horizon’s core focus remains firmly set on developing a stand-alone gold production business in the Kalgoorlie and Coolgardie regions and this significant acquisition aligns with our strategy of further regional consolidation of advanced, complementary development assets in close proximity of the proposed Boorara Mill,” Mr Price said.

“The Cannon underground gold project presents a high-grade near-term development opportunity that will now be incorporated into the consolidated Feasibility Study and can provide high grade ore feed in the early years to complement the base load Boorara deposit and the four advanced open pit and underground satellite projects currently under evaluation.

“We also see the potential for significant resource growth and exploration upside from the Bulong South, Glandore and exciting Cowarna project areas with multiple walk-up drill targets on major geological structures.

“Drill planning is now underway, and we look forward to providing further updates as we complete the transaction, update mine development studies and commence exploration drilling.”

Image credit: https://horizonminerals.com.au/asx-announcements/