Horizon Gold Ltd. · ASX:HRN
Horizon Gold — Investor Presentation (August 2022)
22 slides from Horizon Gold's investor presentation, August 2022
Slide 1: Investor Presentation August 2022
horizongold.com.au INVESTOR PRESENTATION August 2022
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER No New Information or Data This presentation contains references to exploration results and Resource estimates, all of which have been cross referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new informati
Slide 3: A Compelling Investment Opportunity
A COMPELLING INVESTMENT OPPORTUNITY 1.79Moz 663km2 +40 targets 36.8Mt @ 1.51g/t Au* Mineral Resource Dominant tenement holding over Extensive brownfields and Estimate on granted mining leases most prospective parts of the Gum greenfields exploration targets along (1.19Moz @ 1.26g/t Au free milling)
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT ASX code HRN 12 MONTH SHARE PRICE Share price (04/08/2022) $0.395c Shares on issue 123.7M $0.50 Market capitalisation $48.9M Cash (30/06/2022) $5.6M* $0.45 Enterprise Value $43.3M Major shareholder ASX:ZER 72.3% $0.40 BOARD OF DIRECTORS $0.35 Non-Executive Chairman Peter Sullivan
Slide 5: Gum Creek Gold Project
GUM CREEK GOLD PROJECT ▪ One flagship project within a highly productive gold mining district ▪ Five operating gold processing plants in the region ▪ 1.1Moz mined at Gidgee between 1987 and 2005 (Arimco, Australian Resources, Abelle, & Legend Mining) ▪ Mining ceased in March 2005 when the gold price
Slide 6: Gold Resources & Exploration Targets
GOLD RESOURCES & EXPLORATION TARGETS ▪ 1.79Moz @ 1.51g/t Au on mining leases (64% Indicated) ▪ 433,100oz (32%) increase from February 2021 Mineral Resource Estimate (MRE) following 34,700m of drilling at a discovery cost of less than A$14/oz ▪ Over 66% of MRE is free milling (1.19Moz @ 1.26g/t Au) ▪
Slide 7: Swan / Swift Resource Area
SWAN / SWIFT RESOURCE AREA ▪ Large mineralised system in dolerite host rocks just 700m from the Gidgee mill ▪ Swan/Swift resource estimate (free milling): Swan/Swift Open Cut - 434,100oz @ 1.06g/t Au Swan Underground - 118,500oz @ 6.99g/t Au Swift Underground - 25,400oz @ 5.72g/t Au ▪ Significant in
Slide 8: Kingfisher
KINGFISHER ▪ 3.5km south-east of the Gidgee mill ▪ Kingfisher free milling MRE: 145,100oz @ 2.19g/t Au (0.8g/t Au cut-off) ▪ Intensely altered, thick shear zone hosting several gold lodes ▪ High grade en-echelon lodes remain open down plunge ▪ Additional RC and diamond drilling planned Refer to Hori
Slide 9: Wilsons Resource Area
WILSONS RESOURCE AREA ▪ 15km north of the Gidgee mill ▪ Wilsons Mineral Resource Estimate (MRE): 391,000oz @ 5.36g/t Au (1.0g/t Au cut-off) ▪ Three high grade plunging lodes open down plunge associated with structural jogs on dolerite/sediment contact ▪ Outstanding historic drill intercepts beneath
Slide 10: Howards Deposit
HOWARDS DEPOSIT ▪ 28km southeast of the Gidgee mill ▪ Howards MRE: 230,500oz @ 0.80g/t Au (free milling) ▪ Currently 1.3km long and up to 50m thick ▪ Classic quartz vein lode gold in altered basalt ▪ Excellent potential to define additional shallow gold resources along strike to the north and south
Slide 11: Wyooda: Kingston Town, Think Big, Manikato
WYOODA: KINGSTON TOWN, THINK BIG, MANIKATO ▪ 20km south-southeast of Gidgee mill ▪ Wyooda MRE: 64,800oz @ 1.56g/t Au (0.8g/t Au cut-off) ▪ Significant potential to define open cut gold resources along strike of all 3 pits ▪ Numerous significant gold intercepts from 2021 drilling ▪ Further shallow RC
Slide 12: Heron South
HERON SOUTH ▪ 15km southeast of Gidgee mill ▪ Updated MRE: 60,500oz @ 1.73g/t Au (0.8g/t Au cut-off) ▪ Broad, shallow gold intercepts open along strike ▪ High gold grades down plunge to the south ▪ Good potential to define additional gold resources along strike to the north, south, and at depth ▪ Fu
Slide 13: Snook
SNOOK ▪ 24km north of the Gidgee mill ▪ Snook MRE: 54,000oz @ 1.82g/t Au (0.8g/t Au cut-off) ▪ Impressive drill intercepts from high-grade south plunging gold lodes that remain open down plunge ▪ Outstanding potential to define additional gold resources along strike and at depth ▪ Further drilling p
Slide 14: Omega & Psi Deposits
OMEGA & PSI DEPOSITS ▪ 44km north of the Gidgee mill ▪ Maiden Psi MRE: 19,000oz @ 1.81g/t Au (0.8g/t Au cut-off) ▪ High grade plunging gold lodes in folded Banded Iron Formation (BIF) (open down plunge) ▪ Good grades and consistent widths returned from 2021 RC drilling at Psi ▪ Excellent potential t
Slide 15: Regional Gold Prospectivity
REGIONAL GOLD PROSPECTIVITY ▪ No significant regional drilling around the 40 mined prospects for 20 years ▪ 65% of the drill holes at Gum Creek are less than 50m deep ▪ Prospective rocks and prospective structures ▪ Good variety of gold mineralisation styles ▪ Excellent potential for new discoveries
Slide 16: Altair/Mensa Zn-Cu Prospects
ALTAIR/MENSA ZN-CU PROSPECTS ▪ Geological and geochemical hallmarks of a major polymetallic Volcanogenic Massive Sulphide (VMS) system ▪ Zinc-copper-silver mineralisation at Altair has a strike of >450 metres and is open down plunge to the east and along strike to the north ▪ Previous significant in
Slide 17: 2022 Work Programs and Exploration Target Pipeline
2022 Work Programs and exploration target pipeline ▪ ~25,000m of RC and ~1,500m of diamond drilling planned across 16 priority 1 gold targets in addition to drilling at the Altair & Mensa base metal targets 13 Existing MRE ▪ Two rigs on site with ~15,000m of RC completed and Targets diamond drilling
Slide 18: Comparable ASX Peer Gold Companies
COMPARABLE ASX PEER GOLD COMPANIES ENTERPRISE VALUE PER RESOURCE OUNCE $240 $203 $200 $160 $151 $120 $80 $58 $57 $53 $47 $41 $39 $37 $40 $32 $27 $24 $0 Source data provided in Appendix 1 Total gold resources include Measured, Indicated and Inferred ounces. 18
Slide 19: Investment Highlights
INVESTMENT HIGHLIGHTS Resource upside +1.79 Moz Standalone along strike & +1.5g/t Gold development below 37 pits & 3 Resource potential underground mines Strategic Continuous Underexplored regional asset 80km of strike greenstone belt +40 drill Ongoing drilling & Strong Board & targets resource supp
Slide 20: Table A: Gum Creek Gold Project Mineral Resources
TABLE A: GUM CREEK GOLD PROJECT MINERAL RESOURCES Note: Rounding errors are apparent. * cut-off grades are 2.5g/t Au for Swan UG Indicated, and 3.0g/t Au for Swan UG Inferred ** Wyooda includes the Kingston Town, Think Big and Manikato resources 20 Refer to Horizon Gold ASX Announcement dated 25 Jul
Slide 21: Contact Details
CONTACT DETAILS Leigh Ryan Managing Director +61 8 9336 3388 [email protected] horizongold.com.au U8 / 47 Havelock St. West Perth, WA 6005 ASX: HRN Howards Prospect – looking north 21
Slide 22: Appendix 1: Source Data for EV/Resource Peer Comparison
APPENDIX 1 Source data for EV/Resource ASX Peer Gold Comparison MRE* MCAP Million Share CASH DEBT COMPANY ASX EV/MRE EV (Moz) ($M) Shares Price ($) ($M) ($M) Genesis Minerals GMD $ 203 $ 410.3 2.02 $ 426.4 290.1 $ 1.470 $ 16.1 $ - Musgrave Minerals MGV $ 151 $ 139.8 0.93 $ 150.4 537.2 $ 0.280 $ 10.6