Horizon Minerals and Northern Star Resources’ tenement exchange agreement in the Western Australian Goldfields has been completed as of December 20.
The transaction, initially announced in September, will see Northern Star acquire 100 per cent interest in Horizon’s Anthill, Blister Dam, New Mexico, White Flag and Kanowna tenements in exchange with Northern Star’s assets.
In September, Horizon managing director Jon Price said the transaction suited both parties’ areas of interest.
“For Horizon, it adds contiguous tenure to the Boorara gold project area in Kalgoorlie and additional strategic assets in Coolgardie including the Rose Hill- Brilliant North tenements,” he said.
“(This) gives us the ability to unlock the full value of the Coolgardie gold project as we continue to progress formal binding documentation and required approval for the potential acquisition.”
Northern Star will also divest its 100 per cent interest in the Rosehill, Brilliant North and Gunga West projects in Coolgardie and the Golden Ridge, Balagundi, Abattoir and Mt Monger projects in Kalgoorlie, which is now officially acquired by Horizon.
Horizon has announced its intention to consolidate all information and details pertaining to their projects to feed into the exploration, resource growth and mine development plans for 2020.
The assets Horizon have acquired are in close proximity to the township of Coolgardie and are also “contiguous” with Focus Minerals’ Coolgardie gold project.