Horizon Minerals acquires lithium prospects near Greenbushes mine

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.

Green Critical Minerals executes term sheet to acquire Sally Downs Tenement Package