Horizon Gold Limited (ASX Code: HRN) has announced spectacular high-grade gold intercepts from the RC drilling program at its Gum Creek Gold Project in the Mid-West Region of Western Australia.
The company reported that exceptional high-grade gold intercepts were returned from shallow infill and extension RC drilling at the Swift and Swan North deposits.
Significant hits from Swift North and South include 29m @ 9.1g/t Au from 70m including 5m @ 37.3g/t Au from 78m; 9m @ 12.7g/t Au from 111m including 3m @ 25.9g/t Au from 113m; 12m @ 7.4g/t Au from 113m including 3m @ 22.3g/t Au from 116m; and 12m @ 5.3g/t Au from 68m.
Important intersections from Swan North include 17m @ 3.7g/t Au from 139m including 4m at 8.3g/t Au from 142m and 2m @ 11.9g/t Au from 153m; and 24m @ 2.7g/t Au from 143m including 8m @ 4.8g/t Au from 157m.
HRN said that the drilling results would be included in updated Mineral Resource Estimates for the Swift and Swan North deposits to support the future development potential for these shallow, free milling deposits.
The company said that an independent geological targeting review of the entire Gum Creek Gold Project to be completed this month with planned drilling programs to commence in the March Quarter 2021.
Gum Creek gold project
The Gum Creek Gold Project covers approximately 620 square kilometres and hosts JORC 2012 Mineral Resources of 15.9 million tonnes averaging 2.7 g/t gold containing 1.39 million ounces of gold. It is located within a well-endowed gold region that hosts multi-million-ounce deposits including Big Bell, Wiluna, Mt Magnet, Meekatharra, and Agnew/Lawlers.
The project is located in the Gum Creek Greenstone Belt, within the Southern Cross Province of the Youanmi Terrane. The Gum Creek Greenstone belt forms a lensoid, broadly sinusoidal structure approximately 110 km long and 24 km wide. It is dominated by mafic volcanic and sedimentary sequences.
The project’s main Resources are at Swan-Swift, Howards, and Wilsons. These resources and the existing plant site, tailings dam, and village are held on granted mining lease.
The Swan and Swift deposit areas are represented by a cluster of open pit and underground mines that were developed between 1987 and 2005. The Swan deposit is interpreted as a north-striking, steeply east-dipping conjugate vein set emanating from the broader north-striking steeply west-dipping Butcherbird Shear. The Swift deposit has been interpreted as a flat-lying to shallowly east-dipping structure similar in geology and tenor to the Swan deposit shear zones.
RC drilling at Gum Creek
The company had recently commenced an RC drilling program at its 100% owned Gum Creek Gold project. Drilling occurred on Mining Lease M57/634, which is held 100% by Gum Creek Gold Mines, a subsidiary of Horizon Gold Limited.
HRN said that the drilling program was located around the Swan and Swift deposits which are centrally located in the Company’s tenure at Gum Creek.
The Company announced that a total of 38 RC holes for 4,737 metres were completed in the Swift and Swan North deposit areas between September and October 2020. HRN said that these holes were designed to upgrade resource definition and test strike extensions and shallow down dip positions.
The company announced that approximately 75% of the recently completed holes intersected the targeted mineralisation.
HRN reported that spectacular high-grade gold intercepts were returned from the Swift and Swan North Deposits.
Important hits from Swift North and South include 29m @ 9.1g/t Au from 70m including 5m @ 37.3g/t Au from 78m (SBRC105); 9m @ 12.7g/t Au from 111m including 3m @ 25.9g/t Au from 113m (SBRC105); 12m @ 7.4g/t Au from 113m including 3m @ 22.3g/t Au from 116m (SBRC110); 21m @ 2.8g/t Au from 110m including 9m @ 5.9g/t Au from 110m (SBRC108); 8m @ 7.0g/t Au from 95m including 2m @ 19.8g/t Au from 95m (SBRC094); and 12m @ 5.3g/t Au from 68m (SBRC098).
Significant results from Swan North include 17m @ 3.7g/t Au from 139m including 4m at 8.3g/t Au from 142m and 2m @ 11.9g/t Au from 153m (SBRC114); and 24m @ 2.7g/t Au from 143m including 8m @ 4.8g/t Au from 157m (SBRC124).
The company said that these results confirm the presence of broad zones of potentially open pit gold mineralisation in the Swan/Swift resource areas. HRN said that the mineralisation is associated with quartz veining hosted within a mafic rock sequence.
The company said that the drilling also delineated shallow mineralisation at the northern end of Swan North pit that remains open to the north. HRN reported that the hole SBRC126 intersected two mineralised zones of 6 metres @ 3.37g/t Au from 28 metres and 4 metres @ 2.36g/t Au from 41 metres which will require follow up drilling.
HRN said that all reported intercepts are shallow, occurring within 140m of surface. The area is deeply weathered being completely oxidised down to ~60 metres below surface and partially oxidised from ~60 to 85 metres below surface.
The company announced that RC and diamond drilling will be undertaken where appropriate to follow up the results reported. HRN said that subsequent updating of the mineral resource estimate is planned.
Horizon said that the results from recent drilling at Swan and Swift represent only two of the nine resource areas at Gum Creek and will be used to update the Mineral Resource Estimates in due course.
The Company said that it is currently finalising a comprehensive geological review of the Gum Creek Gold Project with the objective of identifying and prioritising key resource growth areas and new brownfields and advanced exploration targets. HRN said that a significant number of high priority targets have been identified to date.
The company said that the review will drive the future exploration strategy and priority of targets to be drill tested in 2021. HRN said that the next program of drilling at Gum Creek is expected to begin in the March Quarter 2021.