The projects comprise 24 granted mining, prospecting, exploration and miscellaneous licences
Horizon Minerals has signed an agreement with private mining company Aurenne Group Holdings to acquire three gold projects in Australia.
The projects include the Bulong South, Glandore and Cowarna gold projects in the Western Australian goldfields.
Covering an area of approximately 180km2, the projects comprise 24 granted mining, prospecting, exploration and miscellaneous licences.
The projects are also located in close proximity to Horizon Minerals’ Boorara gold project that is 10km east of Kalgoorlie’s Super Pit gold mine in Western Australia.
In November last year, the company announced the first gold production from the third toll milling campaign from trial mining at the Boorara gold mine in Australia.
Horizon Minerals managing director Jon Price said: “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.”
Located 10km east of the 100% owned Boorara gold project, Bulong South consists of three granted mining leases, two prospecting licences, two exploration licences and four miscellaneous leases
The project comprises the Cannon underground deposit.
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 baseload Boorara deposit and the four advanced open pit and underground satellite projects currently under evaluation.”
Located 14km east of Boorara, Glandore has multiple advanced open pit and underground exploration targets.
Covering 138km2, the Cowarna project sits immediately east of the emerging Mt Belches gold project within Silver Lake Resource’s Mt Monger gold operation.
With drilling planning currently underway, the projects are expected to see the start of drilling in September quarter of 2021.
Price added: “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.”