The Gum Creek Gold Project, located 640 kilometres northeast of Perth, represents a significant gold exploration and development opportunity in a historically proven gold province.
The project covers about 724 square kilometres that have previously produced over one million ounces of gold.
The Gum Creek Gold Project currently hosts JORC 2012 resources of 17.3 million tonnes averaging 2.25 g/t gold containing 1.25 million ounces of gold.
Importantly, there are multiple new drilling targets and potential resource extension opportunities in the project area.
Horizon’s objective over the next two years is to conduct resource extension and infill drilling programs and regional exploration targeting new gold discoveries outside of known resources.
The project has existing infrastructure including an operational airstrip, an accommodation camp, and a 600,000 tonnes per annum process facility (which needs to be refurbished).
Horizon raised $15 million from an initial public offer by issuing of 37.5 million shares at $0.40 each.