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The latest update is out from Horizon Minerals Ltd ( (AU:MRT) ).
Maritana Minerals has completed Phase 1 of its diamond drilling program at the Burbanks Gold Project, aimed at increasing geological confidence at the Burbanks North open pit and testing underground potential outside the current life-of-mine plan. The campaign comprised 53 holes over 15,798m and returned multiple high-grade gold intercepts, reinforcing the historic pedigree of the camp, which has already produced substantial underground ounces in addition to an existing JORC resource.
Management says the consistently strong assay results further de-risk Burbanks as a future ore source for the Black Swan processing hub and underline the project’s potential to expand beyond the current mine plan. Additional exploration has also been initiated in the southern project area to target shallow, high-grade mineralisation, suggesting scope for both near-surface and underground growth that could enhance Maritana’s production profile and project economics.
The most recent analyst rating on (AU:MRT) stock is a Buy with a A$1.95 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:MRT Stock Forecast page.
More about Horizon Minerals Ltd
Maritana Minerals Limited is an Australian gold exploration and development company focused on its 100% owned high-grade Burbanks Gold Project, located near Coolgardie in the Western Australian Goldfields. The project includes both open-pit and underground resources and is intended to supply ore to Maritana’s wholly owned Black Swan processing hub.
YTD Price Performance: -38.68%
Average Trading Volume: 1,371,920
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$277M
See more insights into MRT stock on TipRanks’ Stock Analysis page.