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- Horizon Minerals (HRZ) gets “excellent” drill results from the Monument gold prospect within the Greater Boorara – Cannon gold project in WA
- A total of 14 RC holes were drilled to test extensions to the mineralisation and validate historical results
- Four RC holes were then drilled at the Homerton prospect to test the interpreted southwest trend with up to 1.94 g/t gold intersected
- Horizon is scheduled to begin a 3000-metre RC drilling program in the September quarter to allow an initial JORC resource and preliminary scoping studies to be completed
- Shares in Horizon are down 1.3 per cent to trade at 7.6 cents at 1:51 pm AEST
Horizon Minerals (HRZ) has reported “excellent” drill results from the Monument gold prospect within the Greater Boorara – Cannon gold project in WA.
The company drilled 14 reverse circulation (RC) holes, for 2156 metres, to test extensions of the mineralisation and validate historical results.
Results include five metres at 4.09 grams per tonne (g/t) gold from 99 metres including one metre at 16.13 g/t gold from 99 metres, and four metres at 7.76 g/t gold from 80 metres.
Mineralisation has now been defined along a 600-metre strike which remains open to the north, south and at depth.
Four RC holes, for 408 metres, were drilled at the Homerton prospect, which lies between Monument and Cannon, to test the interpreted southwest trend.
Results include nine metres at 1.94 g/t gold from 75 metres, four metres at 1.02 g/t gold from 104 metres and three metres at 0.99 g/t gold from 50 metres.
Horizon is scheduled to begin a 3000-metre RC drilling program during this quarter to infill and extend the Monument, Homerton and Pinner prospects.
Results from this drilling will allow an initial JORC resource and preliminary scoping studies to be completed.
“These excellent drilling results at Monument and Homerton clearly demonstrate the potential of the area to deliver significant resource growth in close proximity to the advanced Cannon underground gold project,” Managing Director Jon Price said.
“We now look forward to the results of the next round of drilling and resource modelling to complement our existing resource base in the area supporting both an open pit and underground production hub as part of our contract mining – toll milling model for cash generation.”
Shares in Horizon were trading 1.3 per cent lower on the market to trade at 7.6 cents at 1:51 pm AEST.
