Horizon Minerals Ltd (ASX:HRZ) has been granted a trading halt by the ASX pending the release of information regarding a price query from the ASX.
Shares in the company will remain halted until the earlier of either the release of relevant information, or, the commencement of trading on Friday 27 September 2019.
Horizon recently completed the divestment of its Menzies and Goongarrie gold projects to Kingwest Resources Ltd (ASX:KWR) for $8 million in cash and shares.
This followed drill results received in August 2019 from the Crake and Coote prospects within the Binduli Gold Project located near Kalgoorlie in Western Australia.
Drilling aims to increase the 1.12 million tonne resource grading 1.59 g/t gold for 67,700 ounces of gold at Crake.
Results featured intersections such as 3 metres at 7.41 g/t gold from Crake and 1-metre at 8.18 g/t gold from Coote.
The completed 56-hole reverse circulation (RC) program demonstrated both width and grade continuity across a 450-metre strike length that remains open at Crake.
Further exploration and resource drilling has been planned at both Crake and Coote and an updated resource from Crake will be part of the ongoing feasibility study.