Horizon Minerals has announced that it has entered into a binding Share Sale Agreement (SSA) with Charter Minerals for the acquisition of its two greenfield lithium prospects near Bridgetown, less than 20km from the Greenbushes Lithium Mine.
Horizon has also applied for five new Exploration Licences in proximity to the Charter tenements.
Highlights of the agreement include:
- Acquisition cost of $75,000 in cash and four million ordinary HRZ shares, to Charter shareholders
- The two acquired projects are granted Exploration Licences (E70/5980, E70/5981) located 5km north and 10km southwest of Bridgetown respectively and cover a total area of 33km²
- E70/5980 and E70/5981 are situated along strike from the Greenbushes mine, Albemarle Corporation tenements recently purchased from Lithium Power International for $30 million cash and Galan Lithium’s Greenbushes South project
- Located within favourable geology and structure, particularly the regional, approximately 20km wide Bridgetown-Donnybrook shear zone which hosts the giant Greenbushes tin-tantalum-lithium deposit and continues south for another 20km where it passes adjacent to E70/5981
Horizon Metals CEO, Grant Haywood, said that Horizon is pleased to have acquired and pegged this prospective ground in a world class lithium province with strong potential for pegmatite-hosted lithium mineralisation.
“We continually assess opportunities to add value accretive projects to the business and moved quickly to secure this low cost opportunity when it was presented,” Mr Haywood said.
“These projects build upside and diversification to our portfolio of gold and silver-zinc projects with minimal distraction from our current focus.
“We will progress these projects in parallel with our commitment to transitioning to a gold producer in early 2024, commencing from our Cannon underground gold project.”
