Horizon Minerals Ltd (ASX:HRZ) has received further high-grade drilling results of up to 19.2 metres at 12.53 g/t from 42 metres at the 100%-owned Jacques Find Gold Project, within the broader Teal project area in the heart of Western Australia's Goldfields.
Drilling to date comprised 45 RC and three diamond holes for 4,483 metres to a maximum depth of 163 metres, testing extensions to the supergene zone and improving JORC classification.
Other new shallow high-grade drilling results received from Jacques Find, which is only 25 kilometres from the company's Boorara operations, include:
- 8 metres at 12.1 g/t from 60 metres;
- 12 metres at 4.7 g/t from 60 metres;
- 8 metres at 6.28 g/t from 72 metres;
- 24 metres at 3.04 g/t from 80 metres including 4 metres at 6.47 g/t from 84 metres;
- 6 metres at 6.06 g/t from 54 metres including 1-metre at 25.6 g/t from 59 metres;
- 4 metres at 9.28 g/t from 52 metres; and
- 8 metres at 4.17 g/t from 44 metres.
“Improves scale and quality”
The new results demonstrate excellent width and grade continuity within the supergene zone with new mineralisation intercepted to the south and remaining open to the north and south.
Horizon Minerals managing director Jon Price said: “We are extremely pleased to see further excellent high-grade mineralisation being intercepted at Jacques Find improving both the scale and quality of the deposit.
“These results continue to demonstrate the growth potential of the entire Teal gold camp that sits only 10 kilometres from Kalgoorlie and 25 kilometres on existing roads to Boorara.
“We look forward to releasing the updated resource and maiden reserve in coming months and building the project into the long-term production plan.”
Horizon’s Project area location, resources and surrounding infrastructure.
Mineral resource update pending
The Teal camp comprises the Teal, Jacques Find and Peyes Farm deposits and is one of four core satellite gold project areas being advanced to complement the baseload Boorara Gold Project as part of the consolidated feasibility study to deliver an initial five-year mine plan and underpin the establishment of a standalone processing facility at the Boorara site.
The current mineral resource estimate for Jacques Find stands at 1.91 million tonnes at 2.14 g/t gold for 132,000 ounces at a 1 g/t gold lower grade cut-off.
These latest assay results will enable the compilation of an updated mineral resource estimate due for completion in the June quarter of 2021.
Open cut mine optimisation and design studies will then be completed for maiden reserve generation as part of the consolidated feasibility study.
In addition, the company plans to complete further extensional drilling at Jacques Find later in 2021.