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Horizon Minerals (ASX:HRZ) - Managing Director, Jon Price (centre) - The Market Herald
Managing Director, Jon Price (centre)
Source: Horizon Minerals
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  • Horizon Minerals (HRZ) receives assays from drilling at the Kestrel discovery which is part of the Binduli Gold Project in Western Australia
  • The company drilled 15 holes at the prospect which has yielded grades of up to 21.69 grams of gold per tonne (g/t) and 56.65g/t gold
  • Mineralisation remains open along strike and relatively untested at depth and Horizon will follow up with a 10,000-metre drilling program
  • Assays are pending for eight of the 15 reverse circulation holes
  • Company shares ended the day 4.35 per cent to close at 12 cents

Horizon Minerals (HRZ) has received new drilling results from the Kestrel discovery which is part of the Binduli Gold Project in Western Australia.

Today's results come from a 15-hole reverse circulation (RC) drilling program at the Kestrel prospect which aimed to infill two previously drilled holes and extend the drilling at least 100 metres south of one of these holes.

This phase forms part of the company's 50,000-metre drilling effort which is testing targets across its 1100-square kilometre project portfolio.

The latest results include 18 metres at 4.64 grams of gold per tonne (g/t) from 49 metres including one metre at 56.65g/t gold from 64 metres, and 15 metres at 4.66g/t gold from 84 metres including both one metre at 21.69g/t gold from 84 metres.

Managing Director, Jon Price, was pleased with these results.

"These initial drilling results at Kestrel are stunning. With high grade and near surface mineralisation open along strike and relatively untested at depth, we are eager to commence a dedicated 10,000-metre RC and diamond program in the current September quarter."

The upcoming program will aim to test depth and strike extensions at the Kestrel discovery as well as other priority targets along the 10-kilometre Janet Ivy shear.

Assay results are pending for eight of the 15 holes drilled and are expected to be received in the coming weeks.

Company shares ended the day 4.35 per cent to close at 12 cents.

HRZ by the numbers
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