Open-world horror isn't the easiest thing to do right. Horror relies on timing, and open-world games put so much control in the hands of the player that the scares are usually the first thing to go.
Enter The Forest, which looks to combine elements of Lost and The Descent with the gameplay of... well, of Minecraft, actually. (And, as Chris pointed out, it also has a little bit of Hatchet going on.) It's on Steam Greenlight, and you can check out a trailer up top.
From SKS Games' Greenlight description:
Enter a living, breathing forest with changing weather patterns, plants that grow and die. Tides that roll in and out with the day/night cycle. Below ground explore a vast network of caves and underground lakes.
Complete player freedom
Chop down trees to build a camp, or start a fire to keep warm. Scavenge food to keep yourself from starving. Find and plant seeds to grow food.
Build a small shelter or a large ocean side fortress. decorate your home with found items. Lay traps and defenses to keep a safe perimeter.
Explore and build during the day. Defend your base at night. Craft weapons and tools.Bunker down during the evening or bring the fight directly to the enemy.
Fight or Hide
Use stealth to evade enemies, or engage them directly with crude weapons built from sticks and stones.
A new type of open world, survival horror experience
Defend yourself against a clan of genetic mutant enemies that have beliefs, families, morals and that appear almost human.
And yep, it'll have Oculus Rift support. Colour me intrigued.