Horizon Minerals Limited has initiated an extensive drilling campaign at its high‐grade Burbanks gold project, located just 9km south of Coolgardie in the heart of the Western Australian Goldfields. The company’s latest announcement details a two‐phase drilling plan totaling approximately 30,000 meters. The first phase, consisting of around 15,000 meters of infill drilling, aims to boost resource continuity and confidence by transitioning a larger portion of the current inferred resource into the higher confidence JORC Indicated category. Phase two will focus on extensional drilling along strike and down dip of known high-grade lodes, reaffirming the project’s potential to deliver additional resource growth. Historically, the Burbanks project has generated significant gold output with underground mining producing 324,000 ounces at an average grade of 22.7 grams per tonne. This historical production complements the existing JORC (2012) resource, which currently stands at 6.1 million tonnes grading 2.4 grams per tonne for 466,000 ounces. Recent drilling in late 2023 has demonstrated promising extensions, including high-grade intercepts that further underscore the potential. The results are set to support not only a resource upgrade but also metallurgical testwork, which is critical for a robust Pre-Feasibility Study crafted to outline a five-year mine plan. The project is an integral part of Horizon Minerals Limited’s broader strategy to become a standalone gold producer. The company intends to repurpose the Black Swan processing facility, targeting a nominal throughput of 1.5 million tonnes per annum and the first gold pour by the end of 2026. The Burbanks asset is expected to be a key contributor of high-grade ore feed to this refurbished plant, aligning with the long-term vision of creating a consistent and economically viable flow of mill feed. Market sentiment around the news presents a mix of optimism and caution. On the bullish side, initiating an aggressive drilling program coupled with strong historical production figures bodes well for potential resource conversion and increased investor confidence. The focus on transitioning resources into the Indicated category, alongside the goal of upgrading to Ore Reserves, suggests a clear path to adding value and reducing exploration risk. On the bearish front, the market remains mindful of inherent risks such as the dependence on positive drilling outcomes to overcome current metallurgical data gaps and the uncertainties linked to converting a significant portion of the inferred resources into economically viable reserves. As with many exploration projects, market watchers will be cautious until initial drill results and further testwork can substantiate the company’s strategic ambitions. Overall, the commencement of drilling at the Burbanks project marks a critical step for Horizon Minerals Limited as it harnesses its past high-grade successes to support future growth and strategic repositioning within the gold mining sector.