Horizon Minerals Unveils Ultra High-Grade Gold Hits Up to 5,848g/t at Burbanks

Exceptional High-Grade Intercepts at Burbanks

Horizon Minerals Limited (ASX, HRZ) has delivered a striking update from its Phase 1 drilling program at the 100% owned Burbanks gold project, located just 9km south of Coolgardie in Western Australia. Among the highlights is a breathtaking intercept of 0.3 metres grading an extraordinary 5,848 grams per tonne (g/t) of gold, encountered at a depth of 259.17 metres. This ultra high-grade result underscores the exceptional potential of the Burbanks system and marks a significant milestone in the company’s ongoing exploration efforts.

Phase 1, which comprises approximately 15,000 metres of mostly infill drilling, is now two-thirds complete. The program has returned multiple high-grade intersections, including 0.96m at 1,762g/t Au and several other zones exceeding 4g/t Au over meaningful widths. These results not only confirm the continuity of the high-grade mineralisation but also reveal extensions beyond the current resource boundaries, particularly in the Main Lode-Burbanks North bridge area.

Strategic Resource Expansion and Confidence Building

The drilling campaign is designed to upgrade the existing Mineral Resource Estimate (MRE) of 6.1 million tonnes at 2.4g/t gold for 466,000 ounces, primarily by converting inferred resources to indicated categories. This upgrade is critical for advancing the project towards Ore Reserve classification and eventual mine planning. Horizon’s Managing Director and CEO, Grant Haywood, emphasised that the spectacular grades reinforce the company’s strategy to increase high-margin feed to its wholly owned Black Swan processing plant, enhancing project economics.

Supporting this complex and structurally challenging deposit, Horizon has engaged external geological consultants with deep expertise in the Burbanks system. Their input is aiding in refining structural controls and targeting, which is essential for optimising drill planning and resource estimation.

Looking Ahead, Phase 2 and Resource Update

Following the completion of Phase 1 drilling and receipt of all assay results expected by the end of March 2026, Horizon plans to deliver an updated Mineral Resource Estimate in the June quarter. This will be followed by Ore Reserve studies, which will underpin detailed mine design and development plans. Phase 2, slated to commence early in 2026, will focus on extensional drilling along strike and down dip to further grow the resource base.

Historically, underground mining at Burbanks produced 324,000 ounces at an impressive grade of 22.7g/t gold, highlighting the project’s rich heritage and potential. The current drilling results suggest that significant down plunge extensions remain to be delineated, potentially adding substantial value to the project.

Horizon’s methodical approach, combining high-grade drill results with expert geological interpretation and a clear pathway to resource upgrade, positions Burbanks as a compelling asset in the Western Australian goldfields.