Horizon Minerals Expands Strategic Footprint Near Black Swan with Gordons Dam Acquisition - Creating a Gold Mining Hub.
- Noel Ong
- Aug 21
- 5 min read
Announcement
Horizon Minerals Limited (ASX: HRZ) has strengthened its gold development strategy in the Western Australian Goldfields through the acquisition of the Gordons, Mt Jewell, Malone, and Mulgarrie projects from Yandal Resources Limited (ASX: YRL). The package totals 34 granted mining, prospecting, exploration, and miscellaneous licences over ~77 km², all in close proximity to Horizon’s 100%-owned Black Swan processing facility (Figure 1).
Figure 1: Gordons Project location in context to Horizon Minerals tenement holdings, regional geology and surrounding infrastructure (source: HRZ).
Key Highlights _ Building a Gold Mining Hub.
Binding Tenement Sale Agreement (TSA) executed for 100% interest in the four gold projects.
Gordons Dam Project lies just 10 km west-south-west of Black Swan, with an established Mineral Resource Estimate (MRE) of 365 kt at 1.7 g/t Au for 20 koz. Mineralisation remains open at depth and along strike on a granted Mining Lease (Figure 2).
Advanced exploration upside with multiple drill-ready targets, including Star of Gordon and Malone prospects.
Acquisition terms:
$0.2m refundable cash deposit (paid)
$1.0m cash on completion from existing reserves
$1.610m in Horizon shares at a 10% discount to the 15-day VWAP (or cash at Horizon’s election)
Settlement expected in Q3 2025, subject to regulatory approvals and Ministerial consent under the Mining Act.
Figure 2: Gordons Project tenements, prospects and regional geology. Historical and Yandal Resources drilling represented as maximum downhole assays (ppm) (source: HRZ).
Strategic Fit
Horizon is progressing a Pre-Feasibility Study to refurbish and repurpose the Black Swan processing plant into a gold facility with a nominal throughput of 1.5 Mtpa. The newly acquired tenure is expected to provide feed sources for a five-year Life of Mine plan, complementing Horizon’s extensive landholding and existing resource base.
Managing Director & CEO Grant Haywood commented:
“We are pleased to acquire these projects in close proximity to our processing infrastructure. In addition to the resource at Gordons Dam, these assets complement our current large strategic land holdings in the WA Goldfields. We see great potential in this area for further resource growth along with enormous exploration upside.”
Gordons Dam Resource and Geology.
The Gordons Dam deposit sits within the Boorara Domain of the Kalgoorlie Terrane, part of the Norseman–Wiluna Greenstone Belt. Gold mineralisation is primarily hosted in quartz veins at the margins of pillow basalts intruded by microgranite/porphyry, extending from ~30 m to 120 m below surface over a strike length of ~320 m.
The MRE (classified as Inferred) was prepared by BM Geological Services in November 2022 using 95 drillholes (4 diamond and 91 RC) and a 1.0 g/t Au lower cut-off grade. Horizon’s review has confirmed the integrity of the estimate (Figure 3).
Figure 3: Plan view Gordons MRE drillhole location and type including surrounding previous drilling. (source: HRZ)
Exploration Upside
Historical and recent drilling indicate significant intercepts, with mineralisation remaining open both at depth and along strike. Horizon plans to integrate the Gordons Dam area into its broader exploration strategy, ranking and scheduling future drill programs post-completion.
Samso Concluding Comments
From a strategic standpoint, the acquisition of Gordons Dam and its neighbouring projects is clearly creating a gold mining hub. A good move to consolidate a development pipeline within immediate reach of the Black Swan plant, offering tangible synergies in mining, haulage, and processing. The established resource base, while modest, provides a solid foundation that can be scaled with systematic exploration.
What makes this transaction compelling is the blend of near-term development potential and longer-term discovery upside. Horizon is effectively stitching together a portfolio that can deliver a steady feed to its refurbished processing facility while pursuing extensions and new deposits along well-endowed structural corridors.
The geological framework of the Boorara Domain continues to demonstrate its ability to host meaningful gold mineralisation. With historical drilling validating mineralised structures and the potential for deeper and strike extensions, Gordons Dam presents as a project where incremental drilling can yield significant returns.
As the regional consolidation strategy unfolds, Horizon’s approach reflects a clear vision: secure quality ground, leverage existing infrastructure, and drive organic resource growth. In the context of the WA Goldfields, this is a well-trodden path to building a sustainable gold business.
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