- Horizon Minerals (HRZ) releases high-grade results from drilling at the Binduli Gold Project in Western Australia
- The company drilled 47 holes over three prospects as part of its 2021 drilling program to discovery new targets and deliver new resource estimates
- Latest results include grades of up to 18.91g/t and 32.4g/t gold from the Kestrel and Honeyeater prospects
- Drilling has also expanded the Coote prospect's strike length to 400 metres
- Company shares were down 3.7 per cent and were trading at 13 cents
Horizon Minerals (HRZ) has released new drilling results from the Binduli Gold Project in Western Australia.
The company drilled 47 holes, for 4713 metres, over the Honeyeater and Kestrel
discoveries and at the Coote prospect. This forms part of a broader 50,000-mere drilling program that's testing high priority resource definition and new discovery targets.
Latest results from the newly discovered Kestrel prospect include 10 metres at 2.07g/t gold from 49 metres including one metre at 11.09g/t gold from 57 metres and five metres at 5.22g/t gold from 94 metres including one 18.91g/t gold from 97 metres.
Six holes were drilled at the emerging Honeyeater prospect with best results including four metres at 11.45g/t gold from 113 metres including one metre at 32.4g/t gold from 115 metres.
Pleasingly, drilling at the Coote prospect expanded its strike length to 400 metres and confirmed previous results which will be included in the new resource model.
The latest results include two metres at 1.89g/t gold from 62 metres, one metre at 2.7g/t gold from 67 metres, 17 metres at 1.67g/t gold from 78 metres including one metre at 11g/t gold from 79 metres.
"The Binduli gold project area continues to deliver excellent results and is shaping up to be a key satellite production hub with both advanced development projects at Crake and Coote in the south and emerging organic growth assets at Honeyeater and Kestrel in the north," Managing Director Jon Price said.
The company will continue drilling through to the upcoming quarter and is currently completing a maiden mineral resource estimate for the Coote prospect.
Company shares were down 3.7 per cent and were trading at 13 cents at 2:44 pm AEST.