Total
0
Shares
Horizon Minerals (ASX:HRZ) - Managing Director, Jon Price (centre) - The Market Herald
Managing Director, Jon Price (centre)
Source: Horizon Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Horizon Minerals (HRZ) completes reverse circulation (RC) and diamond drilling at its Kalpini gold project in Western Australia
  • All up, 49 RC and three diamond holes were drilled to improve the confidence of the mineralisation and test extensions
  • This forms part of a 50,000-metre drilling program that is aiming to upgrade the JORC 2004 resource to a JORC 2012 standard
  • Up to 54.25g/t gold was intersected and an updated mineral resource estimate is expected to be released in the December quarter
  • Horizon has ended the day 2.13 per cent in the red with shares trading at 11.5 cents

Horizon Minerals (HRZ) has completed reverse circulation (RC) and diamond drilling at its Kalpini gold project in Western Australia.

Kalpini lies 50 kilometres northeast of Horizon's Boorara gold project and consists of the Atlas, Gambia and Camelia deposits.

All up, 49 RC holes, for 5677 metres, and three diamond holes, for 346 metres, were drilled to improve the confidence of the mineralisation and test extensions.

This forms part of the 50,000-metre drilling program that is testing high-priority and new targets across the project area.

The aim of this program is to infill and extend the historical drilling to upgrade the JORC 2004 resource to a JORC 2012 standard.

Currently, Kalpini has a JORC 2004 mineral resource of 4.6 million tonnes at 1.7 grams of gold per tonne for 255,000 ounces.

Best results from this drilling include 1.5 metres at 20.74g/t gold from 99.5 metres including 0.5 metres at 54.25g/t gold from 99.5 metres; and one metre at 41.35g/t gold from 195 metres.

All data is now being incorporated into an updated mineral resource estimate (MRE) which is expected to be released in the December quarter.

Managing Director Jon Price is pleased with the results received as they demonstrate the open-pit potential of Kalpini.

"The first drilling program we have completed has delivered excellent results confirming the potential for further open pit stages and significant upside at depth for potential underground development," Mr Price said.

"We now look forward to completing the updated MRE and advancing the project as part of the consolidated feasibility study."

Horizon has ended the day 2.13 per cent in the red with shares trading at 11.5 cents in a $66.73 million market cap.

HRZ by the numbers
More From The Market Herald
Flynn Gold (ASX:FG1) receives first assay results from Brilliant

" Flynn Gold (ASX:FG1) hits more high-grade gold at Brilliant

Flynn Gold (FG1) has received high-grade gold results from one hole drilled at the Brilliant prospect within the Golden Ridge Project in Tasmania.
Megado Gold (ASX:MEG) confirms gold zone at Chakata Gold Project

" Megado Gold (ASX:MEG) hits gold in Ethiopia

Megado Gold (MEG) has received results from diamond core drill holes at the GT Prospect in southern Ethiopia.
Balkan Mining and Minerals (ASX:BMM) - Managing Director, Ross Cotton - The Market Herald

" Balkan Mining and Minerals (ASX:BMM) teams up with Puro.earth

Balkan Mining and Minerals (BMM) has teamed up with Puro.earth to sign a marketplace platform agreement.
Conico (ASX:CNJ) - - The Market Herald

" Conico (ASX:CNJ) intersects massive sulphide lenses at Cascata

Conico (CNJ) has intersected multiple lenses of massive sulphides in the first hole drilled at the Cascata Prospect, within the Ryberg project in