Horizon Gold's Scoping Study for Gum Creek Gold Project

Horizon Gold Limited (ASX: $HRN) has released a compelling scoping study for its Gum Creek Gold Project, projecting an average recovered gold production of approximately 84,000 ounces per year over a 10-year Life of Mine (LOM) period. The study indicates strong potential for near-surface open pittable gold resources, with robust financial metrics and potential upside to predicted financial outcomes. The company is considering the commencement of a Feasibility Study and further economic assessment work to enhance project economics.

Executive Commentary on Scoping Study

The scoping study for the Gum Creek Gold Project demonstrates the commercial viability of a stand-alone mining operation. It outlines key physical assumptions, regional geology, gold resource estimate, and other technical details. The study targets approximately 888,000 ounces of gold from 14 deposits over a 10-year period. We are confident in the economic fundamentals of the project and are considering further evaluation to unlock its full potential.

Overview of Scoping Study and Future Plans

Horizon Gold Limited's scoping study for the Gum Creek Gold Project indicates strong economic fundamentals, including an attractive return on capital investment and robust cash flows. The study projects an average recovered gold production of approximately 84,000 ounces per year over a 10-year period. The company is considering the commencement of a Feasibility Study and further economic assessment work to enhance project economics, reduce capital expenditure, and evaluate underground mining options. With a current Mineral Resource Estimate of 2.14 million ounces, the project holds significant potential for future development and production in the Western Australian gold jurisdiction.