Budding WA gold producer, ASX-listed Horizon Minerals, reported further high-grade gold hits at the Crake and Coote projects within its 100 per cent-owned Binduli project, located just west of Kalgoorlie and across town from its producing Boorara gold mine.
New shallow high-grade drill results from Crake include 12m at 6.68 g/t gold from 6m, including 3m at 14.85 g/t gold from only 9m below surface. Other nearby hits were 4m at a solid 19.20 g/t gold from just 12m down-hole and 4m going 5.78 g/t gold from 24m.
Deeper drilling at Crate also turned up some solid strikes with one drill hole returning a long 31m at 1.81 g/t gold from 71m and another 6m interval at 3.20 g/t gold from 104m down/hole.
Significant results received from the Coote prospect, 700m to the west of Crake, included one hole with multiple intercepts of 1m at 12.70 g/t gold from 67m, 17m at 1.67 g/t gold from 78m and 1m at 1.24 g/t gold from 99m.
Horizon Minerals Managing Director, Jon Price said: “Binduli has become an outstanding emerging gold camp with Crake continuing to grow in scale and quality and the adjoining Coote deposit now firming up to have similar potential. Both projects remain open with extensional RC drilling underway and we look forward to further drilling results this quarter from multiple rigs currently operating across the wider project area.”
Horizon said its current Mineral Resource Estimate for Crake stands at 1.27Mt going 1.82 g/t gold for 73,820 contained ounces, using a 1g/t gold lower grade cut-off, but it expects to revise those numbers when the next update is released.
The company said the prospect remains open to the north, west and at depth, with recent drill results confirming excellent width and grade continuity along a 450m strike length.
Two other drill holes at Coote also had solid-grade gold hits, including 10m at 3.20 g/t gold from 68m and 4m going 2.44 g/t gold from 56m down-hole.
Horizon said the results to date from Coote showed the potential for future high-grade gold resource additions as mineralisation appeared to be open to the north and at depth.
Step-out RC drilling is ongoing at both prospects and four drill rigs have the rods turning across the company’s consolidated project area, hoping to complete a record 70-kilometre drill campaign in this financial year.
The market will no doubt be keeping its eye out for Horizon’s maiden ore reserve report at Crake and its maiden mineral resource estimate for Coote, ahead of a consolidated feasibility study for the project which is due to hit the street in the second quarter of next year.
Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au
