Horizon Minerals Ltd (ASX:HRZ) has welcomed promising new gold drilling results from its 100%-owned Binduli and Black Flag project areas, which lie 5 kilometres west and 30 kilometres northwest respectively of Kalgoorlie-Boulder in the heart of the Western Australian goldfields.
The second-quarter drilling forms part of a FY23 exploration program taking in new discoveries within the Greater Boorara – Cannon, Lakewood, Binduli and Yarmany – project areas. This small drilling program tested mineralisation extensions and new targets with 28 holes across 2,251 metres.
Horizon is encouraged by the new mineralisation at Black Flag, with the size, extent, geometry and resource potential largely untested.
Together with the more advanced Honeyeater prospect and the nearby Kestrel prospect 900 metres to the south, there is much to explore. The company believes there is strong potential to extend its footprint and discover multiple gold deposits in these highly prospective regions.
Honeyeater a sweet deal
Two small reverse circulation (RC) drilling programs were conducted at the Honeyeater Prospect, Binduli and at Black Flag near the Paddington area north of Kalgoorlie. At Honeyeater, 13 RC drill holes for 1,063 metres tested strike extensions and nearby targets.
At Honeyeater, high-grade finds included:
- 2 metres @ 34.85g/t gold from 74 metres including 1 metre @ 68.04g/t gold from 74 metres;
- 2 metres @ 5.34g/t gold from 28 metres including 1 metre @ 9.98g/t gold from 28 metres, 1 metre @ 1.21g/t gold from 38 metres and 2 metres @ 3.34g/t gold from 44 metres;
- 1 metre @ 2.74g/t gold from 28 metres and 1 metre @ 1.40g/t gold from 85 metres; and
- 1 metre @ 3.09g/t gold from 68 metres.
The mineralisation at Honeyeater spans a 200-metre strike length and remains open to the north, south and at depth.
Black Flag raises hope
At Black Flag 15 RC holes for 1,188 metres checked new gold mineralisation discovered in 2021.
At the emerging Black Flag prospect, 15 kilometres northwest of Honeyeater, new high-grade mineralisation was discovered across a gravity structure.
Significant results included:
- 8 metres @ 2.19g/t gold from 30 metres including 5 metres @ 3.03g/t gold from 30 metres; and
- 1 metre @ 0.55g/t gold from 14 metres and 1 metre @ 2.74g/t gold from 26 metres.
Follow up drilling at Honeyeater and Black Flag is being planned for early 2023.
Commenting on the exploration results, Horizon managing director Jon Price said: “The company is very pleased with these excellent drilling results from Honeyeater which have returned some exceptional grades.
“The results show the growth potential of the Binduli area progressing into a large mineralised system of multiple deposits, along with the very encouraging results at the early stage Black Flag project.
“We look forward to further drilling programs in these exciting areas in 2023 to follow up extensions and new discovery drilling, with strong resource growth potential leveraging off existing infrastructure in the eastern goldfields area.”