Horizon Gold (ASX:HRN) said that it has secured a short-term funding facility of AU$2 million from its major shareholder, Zeta Resources, for feasibility studies at its Gum Creek project in Western Australia, according to a Wednesday filing with the Australian bourse.

The unsecured loan carries an interest rate of 10.35% per annum and is repayable no earlier than Dec. 31, the filing said.