- Horizon Minerals (HRZ) has intercepted additional high-grade gold results at its Rose Hill project, southeast of Coolgardie in Western Australia
- During the second quarter of 2020, drilling was undertaken to test extensions in under-explored areas and provide further geotechnical information
- Three infill holes were completed, totalling 398 metres, and returning 3.4 metres at 17.92 grams per tonne of gold and 3.7 metres at 9.77 grams per tonne of gold
- These results, along with previously collected data, will be used to formulate an updated mineral resource estimate due in the third quarter of the year
- Horizon Minerals is currently trading 4.76 per cent higher, with shares selling for 11 cents each
Horizon Minerals (HRZ) has intercepted additional high-grade gold results at its Rose Hill project, southeast of Coolgardie in Western Australia.
The project lies on the western edge of the Archean Norseman-Menzies Greenstone Belt, 35 kilometres west of Kalgoorlie-Boulder. Mineralisation at the site is primarily hosted within the Rose Hill porphyry, which forms part of the same structure as the Brilliant North, Tindals and Dreadnought deposits to the south.
From April to June this year, Horizon completed three infill drill holes, totalling 398 metres, in an effort to improve the company’s geological confidence in the project. The program was focused on testing regions that have been previously under-explored, with the intention of gathering additional geotechnical information and metallurgical samples.
Significant results came from the RHRCD20015 hole, which returned 3.4 metres at 17.92 grams per tonne of gold, and the RHRCD20014 hole, which returned 3.7 metres at 9.77 grams per tonne of gold.
All three of the holes indicated sufficient grades, widths and geological continuity to support the development of an underground resource model.
These results, in combination with previously gathered data, will be used to formulate an updated mineral resource estimate, which is expected to reach completion in the third quarter of this year.
Jon Price, Managing Director of Horizon Minerals, said he is looking forward to the completion of a revised resource estimate.
“Rose Hill continues to demonstrate significant open cut and underground potential and we look forward to completion of the updated resource models, reserve generation studies and further drilling results in coming quarters,” Jon noted.
“The company’s aim is to generate additional high-grade open pit and underground reserves supplementing the large-scale baseload Boorara project in Kalgoorlie to underpin a longer-term production pipeline and a standalone processing plant at Boorara,” he added.
Horizon is already contemplating further drilling efforts at the Rose Hill project, including several holes targeting the shallow, potential open cut area. Deep drilling is also expected to be undertaken in certain regions to gain a more in-depth understanding of the geological structures.
In addition, drilling has been scheduled at the nearby Brilliant North deposit, targeting shallow open-pittable mineralisation within 30 metres of the surface, along with further assessments of the company’s Gunga leases, which hold a number of advanced prospects.
Horizon Minerals is currently trading 4.76 per cent higher, with shares selling for 11 cents each at 11:09 am AEST.