Horizon Minerals Ltd’s (ASX:HRZ) recent drilling has demonstrated strong continuity and grade along a 600-metre strike at Crake Gold Project west of Kalgoorlie in Western Australia with bonanza grade results of up to 1-metre at 67.9 g/t gold.
This assay within 2 metres at 37.9 g/t from 13 metres is just one of a number of strong results from the infill and extension drilling program, which comprised 51 reverse circulation (RC) and three diamond holes for 5,043 metres to a maximum depth of 174 metres.
Other notable results include:
- 24 metres at 4.9 g/t gold from 32 metres, including 1-metre at 57.2 g/t gold from 36 metres;
- 12 metres at 6.7 g/t from 6 metres;
- 4 metres at 14.9 g/t from 53 metres, including 1-metre at 56.2 g/t;
- 6 metres at 2.0 g/t from 20 metres, 4 metres at 6.7 g/t from 44 metres including 1-metre at 24.0 g/t from 44m and 2 metres at 2.3 g/t from 91 metres;
- 5 metres at 2.9 g/t from 69 metres, 3 metres at 1.6 g/t from 83 metres and 6 metres at 3.6 g/t from 36 metres; and
- 2 metres at 2.2 g/t from 46 metres, 2 metres at 3.2 g/t from 60 metres, 14 metres at 1.8 g/t from 71 metres and 11 metres at 2.6 g/t from 91 metres.
Demonstrate “potential scale and quality”
Managing director Jon Price said: “These latest spectacular drilling results continue to demonstrate the potential scale and quality of Crake and the entire Binduli project area.
“We now look forward to releasing the updated resource and completing the reserve generation work which we expect to confirm Crake as a valuable high-grade satellite ore source to complement the baseload Boorara deposit.”
The program has also intersected several new stacked shoots to the northwest and these will be followed up in the next drilling round.
All data is now being compiled to generate an updated independent resource model for Crake expected for completion in the June quarter.
Mine optimisation, design and economic modelling will then be updated for maiden ore reserve generation as part of the consolidated feasibility study.
Satellite projects
Crake is one of five core satellite gold projects being advanced to complement the baseload Boorara Gold Project as part of a consolidated feasibility study to deliver a minimum initial five-year mine plan and underpin the establishment of a standalone processing facility at the Boorara mine site.
The geology at Crake is similar to the 390,000-ounce Janet Ivy open pit, around 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.