Horizon Minerals Ltd (ASX:HRZ) continues to grow its gold bounty around Kalgoorlie-Boulder in WA's Eastern Goldfields with an updated resource estimate of 74,000 ounces from Crake project within the wider Binduli Gold Project.
The Crake resource of 1.27 million tonnes at 1.81 g/t includes more than 67% in the higher confidence measured and indicated resource categories and is an increase of more than 16,000 ounces on a 2018 estimate.
This update for Crake, which is just 25 kilometres from the company's baseload Boorara project, was facilitated by an infill and extensional drilling program comprising 43 reverse circulation (RC) holes for 3,534 metres.
It demonstrated width and grade continuity across the 450-metre strike with mineralisation open to the north, east and west.
“Significant contributor to our production profile”
Horizon's managing director Jon Price said: “Crake and the Binduli area, in general, is certainly shaping up to be a significant contributor to our future production profile as it provides high-grade satellite feed to complement the baseload Boorara project.
“We look forward to growing this project area further in 2020 and testing the high priority Coote, Darter and Honeyeater prospects in close proximity.”
High-grade intersections
Notable results from the 2019 RC program include:
- 3 metres at 7.41 g/t from 81 metres and 10 metres at 1.78 g/t from 102 metres;
- 5 metres at 4.91 g/t from 36 metres and 9 metres at 1.58 g/t from 65 metres;
- 3 metres at 3.18 g/t from 14 metres and 4 metres at 2.47 g/t from 55 metres;
- 3 metres at 1.28 g/t from 10 metres, 1-metre at 2.91 g/t from 17 metres, 1-metre at 2.13 g/t from 25 metres and 1-metre at 5.19 g/t from 32 metres; and
- 12 metres at 1.65 g/t from 32 metres.
Preliminary internal optimisation work has delivered positive results and identified where further drilling is required to increase the mineralised envelope and improve geological confidence.
Once further drilling has been completed, the project will be optimised by an independent mining consultant.
Gold recoveries
Composite RC samples were submitted to Independent Metallurgical Operations for initial metallurgical test work.
Overall gold recoveries were 98.6% and 96.5% for the oxide and fresh composites respectively.
Gravity recoveries were 60.3% for the oxide composite and 52.9% for the fresh composite with low reagent consumption observed for both gravity/leach tests.
The geology at Crake is similar to the 390,000-ounce Janet Ivy open pit, which is about 1,500 metres to the south, where the gold is hosted in a structurally controlled feldspar porphyry.
At the nearby Fort William and Fort Scott open pits, where over 100,000 ounces have been produced to date, gold is hosted within sheared units of volcanics and clastic sediments.
Next steps
Further infill and extensional RC drilling is planned in March 2020 to test along strike to the north and east and at depth to the west.
Diamond drilling will also be conducted to improve the structural knowledge of the ore body, provide geotechnical information for mine design and additional samples for the next phase of metallurgical test work.