Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Horizon Minerals (HRZ) has updated its Mineral Resources estimate for the Crake prospect in the Binduli gold project
  • The updated Mineral Resource now sits at 1.27 million tonnes at 1.81 g/t of gold for 74,000 ounces, representing a 1 g/t of gold lower grade cut-off
  • The company has completed a highly successful infill and extensional drilling of 43 holes at Crake
  • Horizon Minerals is down slightly on the market today and is trading at 9.5¢ apiece

Horizon Minerals (HRZ) has updated the Mineral Resources estimate for the Crake prospect in the Binduli gold project.

The updated Mineral Resource now sits at 1.27 million tonnes at 1.81 g/t of gold for 74,000 ounces, representing a 1 g/t of gold lower grade cut-off.

The company has completed a highly successful infill and extensional drilling of 43 holes at Crake.

Results include 3 metres at 7.41 g/t of gold from 81 metres and 10 metres at 1.78g/t gold from 102 metres and 10 metres at 1.46g/t gold from 77 metres.

The results demonstrate both width and grade continuity across a 450-metre strike length with mineralisation.

The Binduli gold project area is located 9 kilometres west of gold town Kalgoorlie- Boulder in Western Australia goldfields.

Managing Director Jon Price is pleased with the results.

“Crake and the Binduli area, in general, is certainly shaping up to be a significant contributor to our future production profile providing high-grade satellite feed to complement the baseload Boorara project 25km to the east,” he said.

Further drilling is planned for the March quarter of 2020 to test along the strike.

Diamond drilling will also be conducted to improve the structural knowledge of the orebody, provide geotechnical information for mine design and metallurgical testwork.

“We look forward to growing this project area further in 2020 and testing the high priority Coote, Darter and Honeyeater prospects in close proximity,” Jon added.

Horizon Minerals is down slightly on the market today and is trading at 9.5¢ apiece at 12:13 pm AEDT.

HRZ by the numbers
More From The Market Herald

" Horseshoe Metals (ASX:HOR) completes phase two RC drilling at Horseshoe Lights

Horseshoe Metals (ASX:HOR) has completed phase two reverse circulation (RC) drilling at its Horseshoe Lights Copper-Gold…

" Hawsons Iron (ASX:HIO) progresses BFS activities at Hawsons Iron project

Hawsons Iron (ASX:HIO) has progressed activities on the Bankable Feasibility Study (BFS) being completed for its…
PVW Resources (ASX:PVW) - Executive Director, George Bauk

" PVW Resources (ASX:PVW) completes $9.5m placement

PVW Resources (ASX:PVW) has successfully completed its $9.5 million placement and will use the money to…
Podium Minerals (ASX:POD) - CEO & Managing Director, Sam Rodda

" Podium Minerals (ASX:POD) identifies high-grade PGM zones at Parks Reef

Podium Minerals (ASX:POD) announces initial results from its stage nine drilling at the Parks Reef project…