Horizon Minerals Ltd (ASX:HRZ) has continued to receive strong gold results from its second phase of reverse circulation (RC) drilling completed at the Golden Ridge gold project, 18 kilometres southeast of Kalgoorlie – Boulder in the heart of the Western Australian goldfields
Preliminary results were received from 31 of the 42 RC holes with significant mineralisation intersected including a 4-metre composite result of 4 metres at 46.70 g/t gold from 80 metres. Other preliminary results include:
- 5 metres at 8.83 g/t from 57 metres and 1-metre at 1.28 g/t from 100 metres;
- 1-metre at 21.36 g/t from 86 metres;
- 2 metres at 2.75 g/t from 32 metres and 4 metres at 1.87 g/t from 88 metres;
- 32 metres at 1.27 g/t from 64 metres; and
- 8 metres at 2.02g/t from 60 metres.
Promisingly, results show excellent width and grade and demonstrate the continuation of the Golden Ridge mineralisation to the north which remains open along strike and at depth.
“Continue to demonstrate prospectivity”
Horizon managing director Jon Price said: “These latest drilling results continue to demonstrate the prospectivity within the greater Boorara project area.
“With over 25 kilometres of strike to be tested beyond the current Boorara resource, we see significant potential for near mine extensions and new discoveries in this mineral-rich geological setting and look forward to releasing further results in coming months.”
Location of Horizon's tenements.
Drilling results
To date, drilling comprised 42 RC holes totalling 5,308 metres to the north of the historic Golden Ridge mine and 4 kilometres to the south of the Boorara Gold Project.
Assay results have also been received from 23 of the 43-hole first pass aircore program at Golden Ridge South where new high-grade mineralisation was confirmed with results including 3 metres at 5.01 g/t from 52 metres, including 1-metre at 10.30 g/t from 54 metres.
Golden Ridge North drilling highlights 2021.
Forward plan
Further assay results are pending and follow up infill and extensional drilling is continuing with the aim of connecting the Golden Ridge and Boorara mineralisation and testing the southern extent.
Once all the assays are received, the Golden Ridge mineral resource will be updated to include the new northern area.
The aircore program in the southern Golden Ridge area will be reviewed once all the drilling is completed and assays received.
Furthermore, Horizon has engaged a highly experienced consultant geologist to map and review the nickel prospectivity within the Golden Ridge-Boorara corridor with high magnesium olivine bearing ultramafic rocks (serpentinised komatiites) identified with new nickel sulphide targets to be tested in the March quarter of 2022.