SYDNEY, AUSTRALIA: Horizon Minerals Limited, a Western Australian mining company, has announced that it has entered into an agreement to acquire 100% interest in two greenfield lithium prospects near Bridgetown, less than 20km from the world-class Greenbushes lithium mine. The acquisition cost is $75k in cash and 4 million Horizon shares.
The two acquired projects are granted exploration licences covering a total area of 33 square kilometers. They are situated along strike from the Greenbushes mine, which is the largest and highest-grade lithium deposit in the world. The projects are also located within favourable geology and structure, especially the Bridgetown-Donnybrook shear zone, which hosts the Greenbushes deposit and the Smithfield pegmatite field.
Horizon has also applied for five new exploration licences in proximity to the acquired projects, covering a total of 229 square kilometers. The company said that the Bridgetown-Greenbushes package has received little modern exploration and that it will undertake data acquisition, compilation and review ahead of initial field work.
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