Horizon Minerals Ltd (ASX:HRZ) has revealed high-grade gold results from the Kestrel discovery, part of the Binduli Gold Project near Kalgoorlie in Western Australia.
The company has intersected thick zones of shallow and high-grade gold mineralisation including:
- 18 metres at 4.64g/t gold from 49 metres, including 1 metre at 56.65g/t from 64 metres;
- 5 metres at 5.22g/t from 94 metres, including 1-metre at 18.91g/t from 97 metres;
- 15 metres at 4.66g/t from 84 metres including 1-metre at 21.69g/t from 84 metres; and
- 1-metre at 18.50g/t from 98 metres.
The drilling program aims to organically grow the project pipeline within a 75 kilometres radius of the proposed Boorara mill adding to the six core development projects under evaluation as part of the consolidated feasibility study due for completion in the second half of 2021.
“Mineralisation open along strike”
Horizon managing director Jon Price said: “These initial drilling results at Kestrel are stunning.
“With high grade and near surface mineralisation open along strike and relatively untested at depth, we are eager to commence a dedicated 10,000m RC and diamond program in the current September Quarter.
“The drilling program will comprise step out and depth extension drilling to 250m depth at Kestrel and will test a number of additional high priority targets along the 10km Janet Ivy shear.
“Binduli already hosts the advanced Crake and Coote projects 7km to the south and we see potential for this emerging gold field, which is only 13km northwest of Kalgoorlie, to grow in scale and become a significant contributor to the longer-term production profile.
“Further drilling results are pending for 8 holes, and we are excited to commence the 10,000m large-scale follow up drilling program.”
10,000-metre RC and diamond drilling program
Horizon’s drilling program comprised 15 RC holes for 1,630 metres with assay results pending for eight holes including repeat assays due to high levels of nuggety gold panned from samples.
Mineralisation is open along strike and at depth with a dedicated 10,000-metre RC and diamond drilling program to commence in the current September quarter testing depth and strike extensions at Kestrel and other priority targets along the 10 kilometre Janet Ivy shear.
The drilling program will test strike extensions at Kestrel beyond the current 200-metre strike zone and depth extensions to 250 metres.
Notably, diamond drilling will provide structural geology information and samples for initial metallurgical assessment.
In addition, multiple targets along the 10-kilometre Janet Ivy shear have been identified in between Crake in the south and Honeyeater in the north.
All these targets will be tested with the RC rig to 90-150 metre depth ensuring penetration through the depleted cover where the majority of historic work, and recent 2019 air core holes, failed to reach.
- Ephrems Joseph