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A New Horizon for Copper and Uranium

25 January 2023 16:48

New Horizon is a new addition to Australia’s mining industry, forming out of a merger of UK-listed Power Metal Resources, the company is eying Australian Uranium and Copper, both of which are set to light up on the market this year.

Uranium has been presenting itself as a viable option for governments looking to reduce carbon emissions while maintaining energy security and copper is set to grow as the red metal becomes more and more critical to the burgeoning Electric Vehicle market.

New Horizon is looking to get on the ground floor of the global energy transition with its projects in tier-one mining jurisdictions in South Australian and Queensland, with the company providing a “unique investment case” according to operations manager Nick Hoad.

New Horizon holds a number of properties on Queensland’s renowned Mt Isa Copper belt, with five separate projects across the relatively underexplored region home to historic and operating copper mines such as the massive high-grade Capricorn Copper mine which produced just under 24 thousand tonnes of copper last year.

Alongside Capricorn, New Horizon has a number of heavyweight neighbours on Mt Isa, including the Anthill and Lady Lorreta mines and with mining giants Rio Tinto, Anglo American and Teck all having exploration footprints in the belt due to its high prospectivity.

New Horizon’s holdings in the copper belt include the Gregory River project, which has several primary copper targets delineated by the elevated surface anomaly with rock-chip samples up to 15 per cent copper, as well as Firey Creek, which has seen historic grab samples up to 15.2 per cent Cu.

Moving across to South Australia, New Horizon also now holds a previous Power Metal Resources project Wilan, which also has a number of prosperous neighbours, Including mining giant BHP’s Olympic Dam deposit, which is the world’s largest single source of Copper-gold-REE and Uranium, located just 140 km away from the project.

Wilan hosts a number of Iron Oxide-Copper-Gold targets, including a large four-by-six-kilometre magnetic and gravity geophysical anomaly in the project’s southeast that has yet to be drill tested.

Wilan is also where New Horizon’s nuclear ambition lies, hosting a potential Uranium-Vanadium occurrence to the project’s west which already has walkup uranium drill targets.

The company is currently preparing to list in the next few months, and with such exciting projects and commodities that are set to take off throughout the rest of the year, All eyes will be on the New Horizon.

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