Horizon Gold Ltd (ASX:HRN, OTC:HZGLF, FRA:HO0) has returned a string of high-grade gold intercepts from reverse circulation (RC) drilling across multiple prospects at its 100%-owned Gum Creek Gold Project in Western Australia, with results expected to support resource growth beyond the current mine plan as the company advances a feasibility study for a proposed standalone mining operation at Gum Creek.
Assays from Swift, Eagle, Goldfinch and Shrike South continue to add shallow mineralisation close to the proposed 2.4-million-tonne-per-annum processing plant while also highlighting opportunities to expand resources at depth.
Managing director Scott Williamson said the latest drilling was continuing to build both the scale and quality of the Gum Creek inventory.
“These impressive high-grade RC drilling results from Swift, Eagle, Shrike South and Goldfinch continue to unlock our free-milling open pit mining strategy,” he said. “We’re consistently adding shallow, high-grade resource ounces less than 2 kilometres from the proposed 2.4Mtpa processing plant while simultaneously drilling deeper to unlock the underground potential throughout the Gum Creek Greenstone Belt.”
Gum Creek Gold Project existing Mineral Resources, Potential Mineral Resources and Exploration Targets over simplified geology.
Swift delivers standout high-grade hits
Some of the strongest results came from the Swift prospect, located about 1.2 kilometres east of the historic Gidgee mill. Horizon completed 12 RC holes designed to test extensions to high-grade mineralisation outside the current resource model.
Swift and Vigilant drill hole plan showing $2900/oz optimised pit shell outline (white dashes), recent drill holes and recent gold intercepts >8 GxM over satellite image.
Key intercepts included:
- 6 metres at 5.13 g/t gold from 95 metres, including 2 metres at 14.7 g/t from 98 metres;
- 5 metres at 4.28 g/t gold from 146 metres, including 2 metres at 10.28 g/t from 146 metres;
- 3 metres at 6.13 g/t gold from 123 metres, including 1 metre at 17.6 g/t from 123 metres;
- 9 metres at 1.10 g/t gold from 152 metres; and
- 8 metres at 1.09 g/t gold from 145 metres.
The company said the results supported its interpretation of stacked, flat-lying mineralised lodes west of the main Swift orebody and confirmed extensions beyond the current resource block model. Additional drilling is planned ahead of a resource update later this year.
Swift already forms part of the larger Swan/Swift resource, which contains 415,600 ounces in the open pit inventory and a further 68,800 ounces in the underground resource.
Swift cross section showing recent RC drill intercept, interpreted mineralised envelopes, previous drill intercepts (>40 GxM) & Swift open pit.
Eagle extends mineralisation along strike
At the Eagle prospect, Horizon completed 33 RC holes targeting shallow open-pittable mineralisation along strike from the existing resource. The program successfully extended known gold mineralisation by around 300 metres to the south.
Eagle / Goldfinch drill hole plan showing recent recent gold intercepts >6 GxM over satellite image.
Notable intercepts included:
- 3 metres at 6.62 g/t gold from 43 metres, including 1 metre at 16.35 g/t;
- 13 metres at 1.50 g/t gold from 34 metres, including 6 metres at 2.77 g/t;
- 8 metres at 2.36 g/t gold from 58 metres, including 4 metres at 4.47 g/t; and
- 5 metres at 1.90 g/t gold from 29 metres, including 2 metres at 4.04 g/t.
Wireframing is now under way ahead of an update to the Eagle resource estimate, which currently stands at 2.02 million tonnes at 1.28 g/t gold for 83,400 ounces.
Eagle cross section showing interpreted mineralised zones and significant 2026 RC intercepts (>3 GxM).
Maiden resources taking shape
Beyond the existing resource areas, Horizon is also moving towards maiden mineral resource estimates at both Goldfinch and Shrike South.
Goldfinch, located 2 kilometres southeast of the Gidgee mill, returned high-grade intersections from both holes drilled in the latest campaign, including 4 metres at 6.19 g/t gold from 75 metres to end of hole and 3 metres at 5.11 g/t gold from 73 metres. Geological wireframing is under way ahead of deeper drilling and a maiden resource estimate.
Goldfinch cross section showing interpreted mineralised zones and significant 2026 and previous RC intercepts.
At Shrike South, where historical open-pit mining extended over roughly 280 metres of strike, drilling returned several broad mineralised intervals, including:
- 11 metres at 1.18 g/t gold from 72 metres, including 5 metres at 2.20 g/t;
- 7 metres at 1.43 g/t gold from 82 metres, including 3 metres at 2.49 g/t;
- 7 metres at 1.33 g/t gold from 65 metres; and
- 5 metres at 1.57 g/t gold from 30 metres.
Shrike South & Thornbill West drill hole plan showing recent drill intercepts (>6 GxM) & gram x metre pierce points over satellite image.
Williamson said resource estimation was already under way at Eagle, Goldfinch and Shrike South.
“Importantly, these resource additions sit outside the current feasibility study, positioning us for a meaningful uplift to project economics over the coming months,” he said.
Feasibility study nearing completion
The drilling campaign forms part of Horizon's broader effort to expand and upgrade resources across Gum Creek, which currently hosts a mineral resource estimate of 37.97 million tonnes at 1.89 g/t gold for 2.30 million ounces.
The company said the Gum Creek feasibility study remains on schedule for release in mid-2026, with risk assessments completed and a draft report nearing completion. Work is also under way on permitting and regulatory approvals, including preparation of the Mine Development and Closure Proposal.
Williamson said further drilling results were expected in coming weeks as Horizon continued resource expansion programs across the project area.
Gum Creek Gold Project and surrounding gold resources and operating gold processing facilities.