Merger Propels Horizon’s Gold to 1.8Moz and Nickel to 422kt in New Resource Statement

Merger Expands Horizon’s Resource Base

Horizon Minerals Limited (ASX: HRZ) has released a comprehensive Group Mineral Resources Statement as of 31 March 2025, following its successful merger with Poseidon Nickel Limited. The consolidation significantly enhances Horizon’s portfolio, combining gold and nickel assets to create a diversified mining group with a robust resource base.

The combined mineral resources now stand at approximately 1.8 million ounces of gold, 422,700 tonnes of nickel, 20.2 million ounces of silver, 104,000 tonnes of zinc, and 7,800 tonnes of cobalt. This positions Horizon as a notable player in both the gold and nickel sectors, with assets strategically located in Western Australia’s prolific Kalgoorlie-Boulder region and surrounding nickel belts.

Gold Resources Anchored by Boorara and Burbanks

The company’s gold mineral resources are underpinned by the cornerstone Boorara and Burbanks projects. These assets collectively contribute the majority of the 1.8 million ounces of gold, with measured, indicated, and inferred categories reflecting a solid foundation for ongoing development. Horizon plans to commence drilling in the June 2025 quarter to further expand these resources, signaling a commitment to organic growth alongside potential mergers and acquisitions.

Nickel Assets Bring Mine-Ready Opportunities

The merger adds 422,700 tonnes of nickel resources from Poseidon’s portfolio, including the Black Swan, Lake Johnston, and Windarra projects. These nickel assets are considered mine-ready, with substantial infrastructure such as the Black Swan plant available for refurbishment and conversion to support gold processing. The nickel resources are supported by detailed JORC-compliant estimates, extensive drilling, and metallurgical testwork, providing a clear pathway to production aligned with anticipated nickel market cycles.

Comprehensive JORC-Compliant Resource Estimates

The Group Mineral Resources Statement includes detailed resource estimates for gold, nickel, silver-zinc, and cobalt, all prepared in accordance with the JORC Code (2012). These estimates are supported by rigorous geological interpretation, sampling protocols, and validation by competent persons. Notably, the Silver Swan nickel deposit features multiple massive sulphide lenses with high-grade mineralisation, while the Silver Swan Tailings represent a measured resource with metallurgical recoveries demonstrating economic potential.

Environmental and Regulatory Considerations

Horizon confirms that environmental approvals and mining leases are in place or actively managed across its projects. The company acknowledges ongoing regulatory processes, such as the tailings storage facility embankment certification at Lake Johnston, and maintains compliance with environmental protection standards. These factors underpin the company’s readiness to advance mining operations responsibly.

Outlook and Strategic Implications

CEO Grant Haywood highlighted the strategic value of the merger, emphasizing the addition of surface infrastructure and the substantial nickel resource base. The combined entity is well-positioned to pursue sustained gold production and capitalize on nickel market upswings. Horizon’s plans for further drilling and resource growth, coupled with infrastructure refurbishment, suggest a clear development trajectory aimed at delivering continuous cash flows and shareholder value.