Highlights

  • The Gum Creek Definitive Feasibility Study outlined a 2.4Mtpa operation with a maiden Ore Reserve of 728koz.
  • Drilling at Snook returned 44m at 5.08 g/t Au from 145m, including 11m at 16.30 g/t.
  • RC and diamond drilling was completed across nine prospects.
  • Cash was A$16.9 million at 30 September 2026.

Horizon Gold Limited (ASX:HRN) has released its quarterly activities report for the period ended 30 September 2026. The company completed a Definitive Feasibility Study for its Gum Creek Gold Project and reported strong drilling results across several prospects.

Gum Creek Definitive Feasibility Study

The DFS, released on 22 July 2026, outlined a 2.4Mtpa operation with a Production Target of 25.1Mt at 1.19 g/t Au for 962koz. It included a maiden Ore Reserve of 18.2Mt at 1.24 g/t Au for 728koz, based on a gold price of A$4,500/oz.

Average production is forecast at 88koz per year over a 10-year life, peaking at 114koz in year two. AISC is estimated at A$2,995/oz, with initial capital of about A$350m. The project hosts a Mineral Resource of 2.30Moz.

Drilling Across Nine Prospects

At Snook, 25 RC holes returned results including 44m at 5.08 g/t Au from 145m, with mineralisation confirmed to about 230m depth. At Kingfisher, hole KFRC038 returned 23m at 5.26 g/t Au from 188m, and diamond drilling is continuing.

Other results included 6m at 12.67 g/t Au at Heron South and 21m at 2.14 g/t Au at Melbourne Bitter. At Howards, mineralisation was confirmed over an 800m southern strike extension. Resource updates for several prospects are planned for early 2027, and follow-up drilling is planned at all nine prospects.

Financial Position

Exploration and evaluation spending for the quarter was A$6.55 million, covering resource drilling, feasibility work and tenement costs. Cash fell to A$16.9 million from A$24.0 million.

Horizon has no debt or undrawn facilities, and the Appendix 5B estimates about 2.43 quarters of funding. The AGM will be held on 19 November 2026 in West Perth.

Key Takeaways

  • The Gum Creek DFS establishes a maiden Ore Reserve of 728koz.
  • Drilling continues to deliver high-grade intercepts, including at Snook.
  • Resource updates for multiple prospects are planned for early 2027.
  • Horizon is debt-free with A$16.9 million in cash.