Horizon Gold has released its 2026 annual report, outlining progress at its wholly owned Gum Creek Gold Project in Western Australia. The company said the defining milestone was the completion and release of the project's definitive feasibility study in July 2026.
According to the company, the DFS outlines a 2.4Mtpa carbon-in-leach operation and a production target of 25.1Mt at 1.19g/t gold for 962,000oz. The target is underpinned by a maiden probable ore reserve of 18.2Mt at 1.24g/t gold for 728,000oz of contained gold.
The board has approved progression into the execution phase, with priorities including environmental and heritage work, regulatory approvals and project implementation. Horizon is targeting a final investment decision in Q2 2027; plant construction is expected to begin in Q4 2027, subject to approvals and implementation activities, while first gold is expected in the second half of 2028.
Horizon estimates initial capital of A$350 million will be needed to achieve the DFS outcomes. The company cautioned that there is no certainty it will be able to secure the required funding, or that the production target and financial forecasts will be achieved.
Source: Download HRN official ASX announcement, 2026-09-23.
Open-pit mine photograph from Horizon Gold Limited's 2026 Annual Report, for the year ended 30 June 2026.