Gum Creek Gold Open Pits – Aerial View Gum Creek Camp
Panoramic Resources Limited entered into an Acquisition Agreement with Horizon Gold Limited (ASX: HRN) to partially divest the Gum Creek Gold Project by way on an Initial Public Offering raising $15 million (see ASX Announcement 21 October 2016).
Following the ASX listing of Horizon Gold Limited (ASX:HRN) in December 2016, the Company’s interest in gold consists of an indirect investment in the Gum Creek Gold Project located near Wiluna through its 51% majority shareholding in Horizon.
Further information on Horizon Gold and the Gum Creek Gold Project can be found at www.horizongold.com.au
Horizon Gold Limited is an ASX-listed (ASX: HRN) gold exploration and developer based in Perth, Western Australia.
The Company’s flagship Gum Creek Gold Project located 640km north east of Perth, represents an exciting gold exploration and potential development opportunity in a historically proven gold province. The Project covers approximately 724 square kilometres that has previously produced over 1.1 million ounces of gold, and currently hosts JORC 2012 Mineral Resources of 15.9 million tonnes averaging 2.7g/t gold containing 1.39 million ounces of gold.
Importantly, Horizon believes there are multiple new gold drilling targets and potential resource extension opportunities at the Gum Creek Gold Project. Horizon is also progressing it’s Altair Copper-Zinc-Silver Prospect located within the Gum Creek Gold tenement.