21/05/2020 - 08:31

Excellent copper-gold numbers for Horizon in Murchison

21/05/2020 - 08:31

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Just as it is breaking ground at its gold project near Kalgoorlie, ASX-listed Horizon Minerals has lit up its Nanadie Well copper-gold project near Meekatharra with intercepts like 12m at 2.16 per cent copper and 2.16g/t gold from just 20m down hole. Horizon said that particular drill hole also included 1m at an impressive 3.7 per cent copper and almost an ounce to the tonne gold.

Just as it is breaking ground at its gold project near Kalgoorlie, ASX-listed Horizon Minerals has lit up its Nanadie Well copper-gold project near Meekatharra in the Murchison region with intercepts like 12m at 2.16 per cent copper and 2.16g/t gold from just 20m down hole.  Horizon said that particular drill hole also included 1m at an impressive 3.7 per cent copper and almost an ounce to the tonne gold.

Whilst it remains focused on its Boorara gold project 10km east of Kalgoorlie’s super pit, Horizon could perhaps be forgiven for being distracted by the excellent intercepts and the previously unknown presence of high-grade gold being reported at Nanadie Well in Western Australia’s Murchison.

Management said the assay results are now in for its RC drill program at Nanadie Well where 14 holes were looking to in-fill and scrub up the existing inferred resource of 36.07Mt at 0.42 per cent copper, for 151,506 tonnes of contained copper.

The company said the latest results confirm the presence of a high-grade, shallow, supergene copper-gold mineralised zone that remains open along strike and at depth.

Horizon said another significant RC drill intercept returned 6m at 1.48 per cent copper and 4.11g/t gold from 38m, including 1m at 3.85 per cent copper and 23.3g/t gold from 43m.  A third included 6m at 2.35 per cent copper and 1.57g/t gold from just 4m, including 1m at 4.89 per cent copper and

Horizon has two projects principally in the Murchison, the Stark and Nanadie Well projects. Stark is located just 1.2km southeast of Nanadie Well and has historic hits of deep, low grade copper, gold and platinum group metals, or “PGE’s”.  The company said one of the better drill results at Stark was 4m at 1.9 per cent copper, 0.32g/t gold and 0.32g/t PGE from 194m.

Horizon has now lodged a fresh mining lease application over Nanadie Well and Stark while it considers its next steps in the Murchison with all option including more drilling, potential JV’s or even divestment on the table.

Horizon Minerals’ Managing Director, Jonnathan [Jon] Price said: "While our focus remains firmly on growing our gold business in the Kalgoorlie and Coolgardie regions, we see significant potential for value creation at Nanadie Well for copper, PGEs and gold. On the back of the geological review and drilling results, we will assess the next steps for the project including retention, further joint ventures or divestment.”

 

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au

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