Horizon Minerals Limited Acquires Bridgetown-Greenbushes Lithium Assets

Horizon Minerals Limited (ASX: HRZ) has entered into a binding Share Sale Agreement with Charter Minerals Pty Ltd for the acquisition of full ownership of two greenfield Lithium prospects located near Bridgetown, Western Australia, and situated less than 20 kilometers from the renowned Greenbushes Lithium Mine. This strategic move includes the application for five new Exploration Licences adjacent to Charter's tenements.

Key highlights of this acquisition include the cost-effective consolidation of a substantial land position in a highly promising lithium mining area in Western Australia. The deal comprises a payment of AU$75,000 in cash and the issuance of 4 million ordinary HRZ shares to Charter shareholders. The two newly acquired projects, covered by Exploration Licences E70/5980 and E70/5981, span a combined area of 33 square kilometers. These assets strategically align with the geological structure, particularly the Bridgetown-Donnybrook shear zone, home to the renowned Greenbushes Sn-Ta-Li deposit. Furthermore, applications for four Exploration Licences (ELA's 70/6551-6554) covering 15 square kilometers near Bridgetown and one tenement (ELA70/6555) spanning around 214 square kilometers 40 kilometers northeast of Bridgetown offer substantial opportunities for exploration and development in an area with limited recent exploration activity. This effort is supported by data acquisition and initial groundwork preparations.

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