Horizon Gold Limited (ASX : HRN) (‘Horizon’ or ‘Company’) is focussed on progressing its exploration and development activities at the 100%-owned Gum Creek Gold Project (‘Gum Creek’ or the ‘Project’) located in the Mid-West Region of Western Australia (Figure 1). Gum Creek has historically produced more than 1 million ounces of gold and currently hosts a gold resource of 37.97Mt @ 1.89g/t Au for 2.30 million ounces 1 . The Project currently covers 644km2 of granted tenure over the highly prospective and underexplored Gum Creek greenstone belt, which contains 37 open pit and three underground gold mines.
HIGHLIGHTS
- RC drilling at Snook returned spectacular intercepts from the deepest drilling at theprospect to date including:
- 44m @ 5.08g/t Au from 145m including 11m @ 16.30g/t Au from 174m
- 14m @ 5.18g/t Au from 88m including 8m @ 8.81g/t Au from 90m
- 12m @ 5.72g/t Au from 135m including 5m @ 10.93g/t Au from 139m
- 14m @ 4.12g/t Au from 204m including 3m @ 15.33g/t Au from 205m
- 15m @ 3.35g/t Au from 158m including 3m @ 13.89g/t Au from 167m
- Infill and extension RC drilling at Kingfisher returned high-grade intercepts including:
- 23m @ 5.26g/t Au from 188m including 15m @ 7.65g/t Au from 192m
- 45m @ 1.24g/t Au from 114m including 3m @ 6.79g/t Au from 114m
- 12m @ 2.81g/t Au from 74m including 6m @ 5.26g/t Au from 79m
- 21m @ 1.36g/t Au from 130m including 4m @ 3.17g/t Au from 131m
- 6m @ 3.94g/t Au from 67m including 2m @ 9.14g/t Au from 67m
- RC drilling at Howards confirmed an 800-metre southern extension to known goldmineralisation returning high grade intercepts including:
- 6m @ 5.57g/t Au from 70m including 3m @ 9.91g/t Au from 71m
- 9m @ 2.27g/t Au from 41m including 5m @ 3.54g/t Au from 41m
- 4m @ 4.65g/t Au from 70m including 1m @ 17.30g/t Au from 70m
- 5m @ 3.41g/t Au from 29m including 3m @ 5.41g/t Au from 30m
- Infill and extension RC drilling at Heron South returned solid intercepts including:
- 6m @ 12.67g/t Au from 114m including 1m @ 58.70g/t Au from 114m
- 25m @ 1.79g/t Au from 84m including 4m @ 7.87g/t Au from 93m
- 12m @ 2.35g/t Au from 180m including 7m @ 3.50g/t Au from 180m
- Shallow infill and extensional RC drilling at Melbourne Bitter highlighted the potentialfor significant resource expansion to the south, returning intercepts including:
- 21m @ 2.14g/t Au from 24m including 8m @ 3.64g/t Au from 31m
- 11m @ 1.78g/t Au from 35m including 4m @ 3.91g/t Au from 36m
- 12m @ 1.59g/t Au from 68m including 4m @ 3.87g/t Au from 75m
- 11m @ 1.40g/t Au from 27m including 2m @ 3.30g/t Au from 34m
- Shallow infill and extensional RC drilling at Cobia, Alma May, Hawk and Swan returnedthe following best intercepts:
- 21m @ 2.08g/t Au from 76m including 15m @ 2.68g/t Au from 79m (Cobia)
- 10m @ 1.65g/t Au from 47m including 4m @ 3.40g/t Au from 53m (Cobia)
- 3m @ 5.16g/t Au from 43m (Cobia)
- 5m @ 2.79g/t Au from 26m including 1m @ 12.50g/t Au from 26m (Alma May)
- 5m @ 2.62g/t Au from 21m including 2m @ 5.22g/t Au from 22m (Alma May)
- 11m @ 1.07g/t Au from 68m including 4m @ 2.10g/t Au from 71m (Alma May)
- 6m @ 1.39g/t Au from 12m and 2m @ 4.07g/t Au from 8m (Alma May)
- 12m @ 2.30g/t Au from 140m including 6m @ 4.26g/t Au from 140m (Hawk)
- 5m @ 3.46g/t Au from 159m (Hawk)
- 16m @ 1.84g/t Au from 45m including 7m @ 3.03g/t Au from 46m (Swan)
- 6m @ 1.23g/t Au from 28m (Swan)
- Follow up RC and diamond drilling is being planned at all 9 prospects.
- Diamond drilling is continuing at the Kingfisher prospect, and RC drilling is continuingat Howards prior to moving to the Wyooda resource area (Kingston Town, Manikato,Think Big).
Click here for the full ASX Release
This article includes content from Horizon Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here