Horizon Minerals Limited (ASX:HRZ) Growth Strategy Presentation

Horizon Minerals Limited's (ASX:HRZ) plans are to advance the Cannon underground in H2 2023 getting back into production and cash generation.

Cannon produces 16,000 ounces at AISC ~$1,900/oz delivering high margins at current A$ gold prices. We have a selected our contract / JV partner and working on formal docs and logistics now. We have a milling allocation at FMR's 1Mtpa Greenfields Mill and aim to be cutting the portal in the Sept Qtr and first production in the Mar Qtr.

The Penny's Find underground is next in sequence and has 43,000oz in resource. Drilling last year identified a new lode system to the north with intercepts including:

o 5.0m @ 5.27g/t Au from 180.3m (P1_010)
o 3.7m @ 7.46g/t Au from 215.3m (P1_005)
o 2.7m @ 8.64g/t Au from 171.4m and 1.7m @ 17.91g/t Au from 178.9m (P1_007)
o 1.9m @ 13.95g/t Au from 251m (P1_009)
o 0.9m @ 23.56g/t Au from 216.7m (P1_006)
o 2.0m @ 8.47g/t Au from 227m (P1_008)
o 2.5m @ 7.45g/t Au from 226m (P1_020)

This new lode system will be followed up with ~4,000m of RC and DD in April to grow the resource and reserve along strike and at depth. In addition, resource and production drilling will be completed at Rose Hill UG, Binduli (Coote, Crake and Kestrel) and the greater Cannon-Golden Ridge area.

Plenty of news flow to come from Cannon and drill results. Horizon is now in a trading halt pending an announcement on a capital raise for Cannon capex and drilling.

To view the Growth Strategy Presentation, please visit:
https://www.abnnewswire.net/lnk/9NOD7240

Jon Price 
Managing Director
T: +61 8 9386 9534 
E: jon.price@horizonminerals.com.au 

Michael Vaughan 
Media Relations - Fivemark Partners 
T: +61 422 602 720 
E: michael.vaughan@fivemark.com.au