Horizon Minerals Ltd (ASX:HRZ) has intersected up to 4 metres at 19.2 g/t gold from 12 metres as high-grade results continue from the Binduli Gold Project west of Kalgoorlie in Western Australia’s Goldfields.
Results have been received from the Crake and Coote deposits with drilling to date comprising 29 holes for 2,460 metres to a maximum depth of 144 metres.
High-grade results
New results from Coote, 700 metres west of Crake, include:
- 2 metres at 1.89 g/t from 62 metres, 1-metre at 12.7 g/t from 67 metres, 17 metres at 1.67 g/t from 78 metres and 1 metre at 1.24 g/t from 116 metres;
- 2 metres at 1.54 g/t from 28 metres, 3 metres at 1.10 g/t from 58 metres, 10 metres at 3.20 g/t from 68 metres and 8 metres at 1.08 g/t from 99 metres; and
- 4 metres at 2.44 g/t from 56 metres.
These results demonstrate the potential for additional high-grade resources with mineralisation open to the north and at depth.
Apart from the 4 metres at 19.2 g/t result from Crake, other highlights include:
- 12 metres at 6.68 g/t from 6 metres, including 3 metres at 14.85 g/t from 9 metres;
- 4 metres at 5.78 g/t from 24 metres; and
- 2 metres at 2.17 g/t from 46 metres, 2 metres at 3.22 g/t from 60 metres and 31 metres at 1.81 g/t from 71 metres, including 3 metres at 7.06 g/t from 99 metres.
Results at Crake demonstrate ‘excellent’ width and grade continuity across a 450-metre strike length with new mineralisation intersected to the north and northwest.
“Emerging gold camp”
Managing director Jon Price said: “Binduli has become an outstanding emerging gold camp with Crake continuing to grow in scale and quality and the adjoining Coote deposit now firming up to have similar potential.
“Both projects remain open with extensional RC drilling underway and we look forward to further drilling results this quarter from multiple rigs currently operating across the wider project area.”
More results expected
Step-out RC drilling is now underway at both prospects with results expected in the current quarter.
Four drill rigs continue to operate across the consolidated project area as part of the record 70,000-metre drill program for FY2021.
Mine optimisation and design work for maiden ore reserve generation has started as part of the consolidated feasibility study due for completion in the June Quarter 2021.