Horizon Minerals Limited (ASX: HRZ) has announced highly encouraging RC drilling results from its Boorara gold project in the Western Australian goldfields.
The company reported that excellent results were received from the grade control drilling completed at the Boorara gold project. The Reverse Circulation drilling totalled 18,000m across the Regal, Royal and Crown Jewel deposits on a minimum 4m X 10m drill spacing to a maximum depth of 54m.
Significant results from the Royal deposit include 6m @ 21.16g/t Au from 33m (BGC11147); 21m @ 2.65g/t Au from 17m (BGC10404); 29m @ 2.44g/t Au from 22m (BGC10475); 25m @ 2.10g/t Au from 15m (BGC11167); and 24m @ 2.17g/t Au from 1m (BGC10474).
The company said that the drilling demonstrates both continuity and significantly higher grades intercepting both the main NNW striking quartz dolerite zone with multiple NW dipping quartz vein arrays.
Horizon announced that results are expected for Regal and Crown Jewel deposits in coming weeks ahead of compilation of an updated geological model and mine production plan for Boorara Stage 1.
Boorara project
Horizon’s 100% owned Boorara Gold Project is 10 kilometres east of Kalgoorlie’s Super Pit gold mine located on the eastern edge of the city of Kalgoorlie-Boulder, Western Australia. The project is located approximately 17km east-southeast of Kalgoorlie, 2km west of Nimbus and 6km north-northwest of Golden Ridge.
The Boorara Project contains over 1.5 kilometres of gold mineralisation striking north-west at 330 degrees. The project is divided into three project areas, namely Royal (Southern), Crown Jewel (Central), and Regal (Northern) deposits.
RC drilling at Boorara
HRZ reported that in the December Quarter 2019, it had completed 18,000m of infill Reverse Circulation (RC) drilling on 4m x 10m (south) and 5m x 10m (north) drill spacing to a maximum depth of 54m at the Royal, Crown Jewel, and Regal deposits.
Excellent results from Royal deposit
The company announced that excellent results were received from the Royal deposit.
Significant hits include 6m @ 21.16g/t Au from 33m (BGC11147); 25m @ 3.08g/t Au from 15m (BGC11149); 21m @ 2.65g/t Au from 17m (BGC10404); 21m @ 2.74g/t Au from 5m (BGC10526); 29m @ 2.44g/t Au from 22m (BGC10475); 25m @ 2.10g/t Au from 15m (BGC11167); 24m @ 2.17g/t Au from 1m (BGC10474); 25m @ 1.92g/t Au from 12m (BGC11148); 18m @ 2.61g/t Au from 22m (BGC11151); 21m @ 2.04g/t Au from 10m (BGC10457); 21m @ 2.02g/t Au from 19m (BGC10483); 16m @ 2.46g/t Au from 19m (BGC10422); 18m @ 2.37g/t Au from 4m (BGC10530); 14m @ 2.61g/t Au from 11m (BGC10481); 21m @ 1.72g/t Au from 12m (BGC10465); 10m @ 3.57g/t Au from 20m (BGC10540); 11m @ 3.03g/t Au from 16m (BGC10514); and 14m @ 2.25g/t Au from 11m (BGC10492).
Grade control program
The company reported that the aim of the current grade control program was to further test the grade uplift potential on a larger scale and enable a new geological model to be compiled for mine optimisation, design, and economic analysis.
HRZ said that the data will also be used to update the global resource model as part of the Feasibility Study underway for the larger scale development to underpin a standalone processing facility at Boorara or collaboration with neighbouring companies.
Royal results indicate potential
The company said that the results received from the Royal deposit have demonstrated this potential with excellent widths intercepted across the mineralised system at higher grades than expected and consistent with the previous infill drilling program and subsequent mine and mill reconciliation.
The company said that the drilling intercepted both the NNW striking main zone and multiple flat lying vein sets which can significantly improve the grade and mineable ounces per vertical metre.
Results pending for Regal and Crown Jewel
HRZ said that results from the Regal and Crown Jewel deposits are expected in the coming weeks. It may be noted that this is ahead of the compilation of an updated geological model for mine optimisation, design, and economic assessment.
The company said that the aim is to generate three starter pits across the project for mining and toll milling in 2020.
Updates and future plans
The company announced that on receipt of all assay data and validation in coming weeks, the results will be used to compile an independent geological model for Boorara Stage 1 comprising all three deposits.
HRZ said that the model will be generated by BM Geological Services Pty Ltd. The company reported that on completion of the model, a mine optimisation and design will be undertaken across three starter pits to generate a mining inventory for mine scheduling and economic evaluation.
Horizon said that significant metallurgical test work has been completed and previous mining and milling data demonstrated expected gold recoveries of >91% with a high gravity recovery component.
The company reported that discussions with mining, haulage and toll milling contractors are well advanced and all statutory approvals have been submitted to meet the Company’s objective to be mining at Boorara in the June Quarter 2020 and toll milling in the September Quarter 2020.
Management comments
Horizon Managing Director Jon Price said: “These initial results clearly demonstrate the scale and quality of the Boorara mineralised system with excellent width and grade continuity and we have barely scratched the surface.
Our aim is to complete the grade control model, mine optimisation and stage 1 design in the March Quarter and commence mining in the June Quarter and third party toll milling in the September Quarter.
This will, in turn, provide invaluable geological and metallurgical reconciliation information for the larger scale development as part of the consolidated Feasibility Study for Boorara and the satellite projects in close proximity due for completion in the December Quarter 2020.”
