Golden Horse has completed its acquisition of the Sorrel copper project in the Northern Territory of Australia, via a deal with NT Minerals for A$3 million.
“We’re pleased to have secured this high-quality copper asset, providing meaningful copper exposure for Golden Horse at a time of compelling long-term supply-demand fundamentals for copper. The Inferred Mineral Resource Estimate of 88,600 tonnes of copper metal underpins a significant opportunity to expand the resource through targeted exploration and resource definition,” said Golden Horse Managing Director Nicholas Anderson.
”While we remain focused on advancing exploration at our high-grade Southern Cross gold project, securing the Sorrel copper project provides our shareholders with strategic copper exposure via a high-quality asset in a Tier-1 mining jurisdiction. Over the coming months, we look forward to undertaking a rigorous assessment process to delineate priority drill targets at the Sorrel copper project.”
Future work plans include completion of an economic evaluation on the project to assess the overall potential of the project and to guide future exploration and resource definition activities; undertaking a comprehensive review of geology and past exploration to quantify the potential of untested targets; securing heritage approvals; and commencing drilling (expected in mid-2026).
Sorrel was mined using open-pit methodologies from 1994 to 1996, and oxide ore was treated from stockpiles from 2006 to 2008.
Source: Golden Horse Minerals