Horizon Minerals Ltd (ASX:HRZ) is encouraged by high-grade drilling results of up to 3.4 metres at 17.92 g/t gold from 78.7 metres from the Rose Hill project near Kalgoorlie in WA’s Goldfields.
During the June quarter, the company completed three infill RC and diamond tail holes to a maximum depth of 172 metres.
The aim of the drilling was to improve geological confidence, test extensions in poorly drilled areas and provide additional geotechnical information and metallurgical samples from the diamond core.
High-grade results
Notable results include 3.4 metres at 17.92 g/t from 78.7 metres, 3.7 metres at 9.77 g/t from 84.3 metres and 5 metres at 2.10 g/t from 142 metres, including 2.5 metres at 3.16 g/t from 114.5 metres.
Horizon believes these results, along with recently retrieved historical data, will inform an updated open pit and underground geological model to be completed in the September quarter.
"Significant potential"
Managing director Jon Price said: “Rose Hill continues to demonstrate significant open cut and underground potential and we look forward to completion of the updated resource models, reserve generation studies and further drilling results in coming quarters.”
“The company’s aim is to generate additional high-grade open pit and underground reserves supplementing the large-scale baseload Boorara project in Kalgoorlie to underpin a longer-term production pipeline and a standalone processing plant at Boorara.”
Rosehill's current resource estimate to 300-metre depth stands at 1.2 million tonnes at 2.49 g/t for 95,000 ounces at a 0.7 g/t lower cut-off grade.
Core samples have provided geotechnical information and metallurgical samples for confirmatory test-work as part of the mine optimisation and reserve generation studies.
Next steps
Further infill and extensional drilling at Rose Hill and the adjacent Brilliant North gold project is planned for the September and December quarters 2020.
Deep RC and diamond drilling will be completed in selected areas at Rose Hill to improve and confirm the geological and grade confidence and drilling will target shallow mineralisation at Brilliant North ahead of a separate JORC resource.
Rose Hill and Brilliant North join Binduli, Teal and the Boorara deposit as core advanced development projects being assessed as part of the consolidated feasibility study.
Consistent with Horizon’s Coolgardie strategy, the company will undertake a more detailed assessment of the nearby Gunga leases, which contain several advanced prospects including the 60,000-ounce Gunga West deposit and Silverstar.