06/10/2021 - 16:46

Horizon beefs up Kalgoorlie gold at Binduli

06/10/2021 - 16:46

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ASX-listed junior gold explorer, Horizon Minerals has released a slew of new high-grade intercepts at its Kestrel discovery to beef up the arsenal of prospects already on hand at its flagship Binduli project near Kalgoorlie. Notable recent shallow intersections include 4m grading 24.27 grams per tonne gold from 92m and 5m grading 13.22 g/t including 1m at 42.27 g/t from 101m.

Drilling at Horizon Minerals Kestrel project in WA. Credit: File

ASX-listed junior gold explorer, Horizon Minerals has released a slew of new high-grade intercepts at its Kestrel discovery that beef up the arsenal of prospects already on hand at its flagship Binduli project near Kalgoorlie. Notable recent shallow intersections include 4 metres grading at a phenomenal 24.27 grams per tonne gold from 92m and 5m grading 13.22 g/t including 1m at 42.27 g/t from 101m.

A previous discovery RC hole underwent confirmatory assaying due to the nuggety deposit style. As a result, the already stellar grade at the drill site was upgraded from 15m at 4.66 g/t to a strike of 23m going at 5.84g/t gold from 84m.

The strike length of the promising Kestrel system now extends to a formidable 650m and is still open along strike and at depth.

Two drill lines were stepped out by 350-450m to the south of the main Kestrel ore body and managed to clip multiple ore shoots. The new discovery is of particular interest as it shares similarities with the Horizon-owned Coote and Crake style of mineralisation that suggest the Kestrel area now hosts two mineralised porphyry systems.

Recent drilling has targeted a concept model that drill tests down dip of weakly anomalous quartz veins found within the oxide depletion zone. It has proven to be a highly successful targeting tool at Kestrel with quartz veins producing spectacular results.

Other additional results reported from the latest drilling included 8m grading 4.8g/t gold from 64m and 2m grading 3.09g/t gold from 56m. With two RC rigs currently chipping away at a 5,000m infill and extension program more results are expected to flow into the new year.

Horizon Minerals Managing Director, Jon Price said: “These new high-grade results have confirmed and extended the mineralisation at Kestrel across a potential 650m strike length, and we are just scratching the surface with vertical depths to only 100m

The current drilling is aimed at testing high priority targets that will expand on the six current core development projects within a 75km radius of the Boorara mill. 

A set of six historical drill results discovered to the south of Kestrel has opened the possibility of extending the Kestrel trend another 450-650m. The historical drillholes intersected anomalous gold in quartz with mineralisation appearing to be similar in style to the Horizon-owned Coote and Crake deposits seven kilometres to the south. Historical results include 1m grading 7.59g/t gold from 100m depth.

Testing Kestrel at depth and drilling to the south beyond the anticipated 650m strike extension is planned with a view of testing a total 1,400m of Kestrel strike.

With a litter of high-grade targets, a stack of assays pending and a mill within cooee of all of them, the future for Horizon Minerals will be an interesting one to watch.  

 

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

 

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