ASX-listed exploration company Horizon Gold (ASX:HRN) reports drilling has returned ‘high-grade’ results at the Gum Creek Gold Project in the Mid-West region of Western Australia.
The company says it completed a total of 38 reverse circulation (RC) holes for 5,680m at the Kingfisher, Eagle and Eagles Peak prospects between June and October 2022, including 4 diamond holes for 763m at Kingfisher and Eagle.
The results have identified additional broad and ‘high-grade’ intercepts at all 3 prospects and have highlighted the potential to define a shallow maiden gold resource at the Eagles Peak prospect.
Horizon Gold Managing Director Leigh Ryan says: “The latest spectacular drilling results from Kingfisher reinforce the potential to add significant underground ounces to the current Mineral Resource Estimate (MRE).
“The latest spectacular drilling results from Kingfisher reinforce the potential to add significant underground ounces to the current Mineral Resource Estimate”
The Eagle prospect results will help to increase the current MRE for the deposit and expand the optimised pit shell to the north and south, whilst the impressive Eagles Peak results extend the known mineralisation at depth and confirm the shallow historic drill intercepts that will bolster the maiden MRE for the prospect.”
At Kingfisher, Horizon reports the recent RC and Diamond Drilling (DD) program comprised 9 holes for 2,281.9m including 3 diamond tails for 642.5m. The company recorded a broad intercept of 15m @ 28.5g/t Au from 346m including 2m @ 189.8g/t Au from 351 in diamond hole KFRC020D, which targeted a large gap in previous drilling within the eastern lode.
Numerous specks of visible gold were identified in the core from 351.5m to 352.7m within a 3.5km wide quartz vein.
A second ‘excellent’ intercept of 16m @ 4.4g/t Au from 174m including 6m @ 9.8g/t Au from 174m was returned from RC hole KFRC013, which targeted gold mineralisation up-plunge of ‘high-grade’ intercepts drilled in 2021.
Horizon states the recent drilling has confirmed the continuity of ‘high-grade’ gold mineralisation at depth within both eastern and western gold lodes at Kingfisher.
As a result there is now potential for additional drilling to add ‘significant’ underground ounces to the current Kingfisher MRE by discovering additional ‘high-grade’ shoots at depth. The company also plans to add open pittable ounces by extending the known gold mineralisation along strike to the north and south.
The current indicated and inferred MRE for Kingfisher is 2.06 million tonnes @ 2.19g/t Au for 145,100 ounces.
At Eagle, Horizon reports RC diamond drilling consisted of 14 holes for 2,344.8m including 1 diamond tail for 120.5m that was completed down-dip and along strike to the north and south of the maiden Eagle MRE, following up the results from drilling in 2021.
‘Significant’ results recorded here include 12m @ 3.3g/t Au from 210m including 9m @ 4.2g/t Au from 210m in EARC011.
These results have highlighted the ‘significant’ potential to expand the Eagle MRE along the Kingfisher Shear Zone to the south towards the Kingfisher open pit and to the north towards the historic Roadrunner open pit, and will potentially ‘deepen’ the existing optimised pit shell.
The company also notes the Eagle Pit optimisation will be updated once a revised MRE is completed. The current indicated and inferred MRE for Eagle is 1.57 million tonnes @ 1.47g/t Au for 74,000 ounces.
At Eagles Peak, Horizon reports the prospect has not been previously mined and there is no current MRE. Initial RC drilling consisting 15 holes for 1,816m at the prospect has confirmed the ‘impressive’ shallow gold mineralisation identified in wider spaced historic RC drilling and highlights the excellent potential for an open pittable resource at the prospect.
‘Significant’ gold intercepts recorded here include 31m @ 4.5g/t Au from 42m including 20m @ 6.6g/t Au from 45m in EPRC099, 15m @ 1.7g/t Au from 96m including 5m @ 4.1g/t Au from 101m in EPRC100, and 4m @ 5.2g/t Au from 104m including 2m @ 10g/t Au from 105m in EPRC104.
Horizon reports wide-spaced historic Rotary Air Blast (RAB) and Aircore (AC) drilling suggest that gold mineralisation continues for over 1.2km to the south of Eagles Peak, and whilst additional drilling is warranted, a maiden MRE will be completed prior to further drilling.
The company states final assay results for the Altair, Fangio, Kearrys, Beta and Specimens Well prospects are still pending and all results are expected to be received before the end of the year.
Metallurgical sighter testwork is also continuing on mineralised samples from the Hawk, Heron, Shiraz, Hyperno and Deep South prospects and metallurgical sampling is continuing as assays for each prospect are being received. Drilling data compilation, digital terrain modelling, wireframing and interpretation of the geology and mineralisation for each prospect are also being completed as assay results are received.
Horizon Gold is an exploration company focused on its wholly owned Gum Creek Gold Project in Western Australia. The project has a global MRE of 1.79 million ounces of gold and the free milling portion of the MRE is 29.2 million tonnes @ 1.26g/t au for 1.19 million ounces.
Images: Horizon Gold Ltd
