Horizon returns spectacular grades at Burbanks as infill drilling builds confidence for development

6 October 2025 | Coolgardie, WA – Horizon Minerals (ASX: HRZ) has reported a series of standout high-grade gold intercepts from Phase 1 infill diamond drilling at the Burbanks Gold Project, 9km south of Coolgardie, reinforcing resource continuity and supporting near-term development studies.

Highlights (first 15 holes, Phase 1 ~15,000m):
• 1.55m @ 99.65g/t Au from 336.3m (incl. 0.37m @ 350.00g/t) and 3.69m @ 5.13g/t Au from 222.4m in 25HBBD004
• 4.00m @ 12.75g/t Au from 366.1m in 25HBBD002
• 1.00m @ 31.63g/t Au from 106m in 25HBBD005
• 1.00m @ 19.84g/t Au from 285m in 25HBBD013

The program—part of a broader 30,000m two-phase drill campaign—targets the Main Lode, Burbanks North and Birthday Gift areas to convert Inferred to Indicated resources and feed into Ore Reserve and mine planning. Phase 1 (45 holes) has completed 18 holes for 5,223m; a second rig has been mobilised to accelerate completion by December 2025, with all Phase 1 assays expected by the March 2026 quarter and an updated Mineral Resource targeted for the June 2026 quarter.

Burbanks’ strong production pedigree (324koz @ 22.7g/t Au historically) sits alongside a current JORC Mineral Resource of 6.1Mt @ 2.4g/t Au for 466koz. Today’s results confirm extensions beneath historic workings and along strike at Burbanks North.

Managing Director & CEO Grant Haywood said the “spectacular high-grade intersections” underscore the orebody’s quality and the opportunity to deliver improved resource confidence that can provide high-grade feed to Horizon’s 100%-owned Black Swan processing plant.

Next steps: Phase 1 completion and MRE update as above; Phase 2 extensional drilling (~15,000m) scheduled to commence early 2026 to grow the resource base along strike and down dip of known high-grade lodes.