Horizon Copper Makes Significant Progress on Hod Maden Project with Pre-Construction Funding and Drilling Advancements

Horizon Copper Enhances Investment in Hod Maden and Other Projects

Horizon Copper Corp. (TSXV: HCU) (OTCQX: HNCUF) is making waves in the mining sector with significant updates on its reservoir of projects, including a noteworthy interest in the Hod Maden copper-gold development located in Türkiye. The company holds a 30% non-operating stake in this promising venture and has outlined plans for substantial pre-construction investment slated for 2025, potentially ranging between $60 to $100 million.

The operator of the Hod Maden project, SSR Mining Inc., has detailed its intentions to bolster early-works construction costs, focusing on vital infrastructural elements like road and tunnel construction, which are crucial for the project’s trajectory toward an official investment decision expected later this year. Moreover, SSR Mining is planning to kick off an initial exploration in 2025 to assess potential extensions to existing deposits and identify new targets across the expansive 3,500-hectare site. Horizon Copper aims to cover its 30% share of the 2025 developmental expenses utilizing a fusion of available cash, operational cash flows, and a revolving credit facility, allowing for borrowing up to $30 million, supplemented by an uncommitted accordion of $20 million.

President and CEO of Horizon, Erfan Kazemi, expressed optimism regarding the scheduled pre-construction activities at Hod Maden, which have contributed positively to the company’s copper portfolio over the past year. He noted the $40 million investment made by SSR Mining in 2024 towards early works and engineering assessments and emphasized the excitement surrounding the roadmap towards formalizing decisions on investments that could lead to production as early as 2028.

Entrée Resources Provides Updates on Oyu Tolgoi

Alongside developments at Hod Maden, Horizon also holds a 24% equity interest in Entrée Resources Ltd., highlighting an array of drilling activities related to the high-grade Hugo North Extension and the Heruga deposit at the renowned Oyu Tolgoi copper mine in Mongolia. Recent announcements from Entrée showcase the promising results from drilling campaigns executed between 2022 and 2024, which substantiate the exceptional quality of the deposit. The ongoing joint venture with Oyu Tolgoi LLC continues to yield encouraging assays indicative of significant copper and gold grades. This includes notable intersections from the Hugo North Extension with some drill holes, such as UGD 578 and UGD 807C, reporting extraordinary copper-gold concentrations that could substantially elevate the project's viability.

At the Heruga deposit, the drilling program continues to underscore the strength of the mineralization at depths previously unexplored. Findings from this site suggest the deposit remains open to western extension, presenting further exploration potential. The rich mineralization across significant intervals promises to bolster confidence in these ongoing projects significantly.

Automated Market-Making Services and Financial Strategy

In a strategic move, Horizon Copper has engaged ICP Securities Inc. to enhance liquidity through automated market-making services while adhering to TSX Venture regulations. This service will include their proprietary algorithm and aims to correct any temporary discrepancies in supply and demand for company shares. The collaboration will commence in April 2025 and will involve monthly fees aimed at optimizing market dynamics. Furthermore, amendments have been made to existing promissory notes concerning the Hod Maden project, providing opportunities for maturity extensions amidst ongoing cash flow adjustments.

Conclusion

Horizon Copper Corp. is not only advancing its investments in the Hod Maden project but also fortifying its financial strategies and operational partnerships to ensure sustained growth. With concrete investments planned for 2025 and robust drilling results emerging from its other projects, Horizon Copper remains set on a trajectory of significant development in the mining sector. As the company navigates these promising advancements, stakeholders can remain optimistic about its projection for the future in the copper market.