Horizon Minerals has received a slew of high-grade gold assays from 31 holes of a 42 drill hole RC drill program to the north of the historic Golden Ridge mine and 4 kilometres south of its Boorara project near Kalgoorlie in Western Australia. Significant drill intersections include a 4 metre intersection grading at a stellar 46.7 grams per tonne gold from 80m downhole.
Other significant drill results include 5m at 8.83g/t gold from 57m downhole, 1m grading 21.36g/t gold from 86m and 12m going 2.75g/t gold from 32m downhole.
A further 32m hit going 1.27 grams per tonne gold from 64m points to potentially a large mineralised system for Horizon.
A total of 5,308m of reverse circulation drilling was completed at Horizon’s Golden Ridge project, situated 18km southeast of Kalgoorlie in the Western Australian Goldfields region.
Horizon says the excellent widths and grades intercepted demonstrates the continuation of the historic Golden Ridge mineralisation to the north that remains open along strike and at depth.
In addition to the 31 RC drill hole results received, 23 air core drill hole results have been returned out of a 43 hole first pass campaign at Golden Ridge South. Notable results returned from the AC drilling to date include a 3m section grading 5.01g/t gold from 52m downhole with a 1m section going 10.3g/t gold from 54m downhole.
Follow up infill and extensional drilling is ongoing with the aim of connecting the Golden Ridge and Boorara mineralisation in addition to testing the southern extent.
Both RC and AC drilling campaigns completed at Golden Ridge form part of Horizon’s 50,000m 2021 calendar year program. The program aims to test high priority resource definition targets in addition to new discovery targets within the company’s 1,100 square kilometre tenure.
Gold is not the only commodity in focus for Horizon between the Golden Ridge and Boorara projects with nickel prospectivity also identified. A consultant geologist has been engaged to map and review the high magnesium olivine bearing ultramafic rocks with any nickel sulphide targets identified set to be tested in the March quarter 2022.
Horizon currently has four drill rigs spinning the rods in the Kalgoorlie region at its Yarmany, Black Flag, Kestrel and Golden Ridge South targets with multiple commodities being tested including gold, nickel, silver, zinc and lithium across the portfolio.
Recent RC drilling completed is aimed at generating an initial inferred resource on a 40m by 40m spacing.
Horizon Minerals Managing Director, Jonathan Price said:“These latest drilling results continue to demonstrate the prospectivity within the greater Boorara project area. With over 25km of strike to be tested beyond the current Boorara resource, we see significant potential for near mine extensions and new discoveries in this mineral rich geological setting and look forward to releasing further results in coming months.”
Gold followers have long known the untapped potential sitting to the east of Kalgoorlie-Boulder and Horizon looks to have amassed a serious chunk of it. With grades like 46.7g/t gold coming back from the lab, Horizon will no doubt be looking forward to putting together an initial inferred resource at its Golden Ridge project.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
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