Kalpini is located some 50 km from Horizon’s own Boorara gold project, and would now join Boorara, Rose Hill, Binduli and Teal as core projects under evaluation as part of a consolidated feasibility study due for completion in June.

The project has a historic Joint Ore Reserves Committee-compliant resource of some 4.6-million tonnes, grading 1.7 g/t for 255 000 oz, before depletion, which Horizon is now reviewing.

The company told shareholders on Monday that the acquisition aligned with its strategy of further regional consolidation and the acquisition of advanced development assets within a 75-km radius of the proposed Boorara mill.

“Horizon’s core focus remains firmly set on developing a standalone gold production business in the Kalgoorlie and Coolgardie regions, and this acquisition aligns with this focus and our strategy of further regional consolidation of advanced development assets in close proximity of the proposed Boorara mill,” said Horizon MD Jon Price.