- Horizon Minerals (HRZ) reports “excellent” results from the latest bout of reverse circulation (RC) drilling at its Golden Ridge gold project in WA
- The company has recevied assays for 31 holes from the 42-hole program, with the best results so far including a four-metre hit at 46.7 g/t gold from 80 metres
- Horizon says these results show excellent width and grade and demonstrate the continuation of the Golden Ridge mineralisation to the north
- Looking ahead, the company plans to upgrade the Golden Ridge mineral resource to include the new northern area once all assays are received
- Shares in Horizon Minerals were down 3.85 per cent to 12 cents each at 1:01 pm AEDT
Junior explorer Horizon Minerals (HRZ) has reported “excellent” results from the latest bout of reverse circulation (RC) drilling at its Golden Ridge gold project in Western Australia.
The company today said it drilled 42 holes for over 5300 metres at the project, which lies near Kalgoorlie, with preliminary results having been received for 31 of these 42 holes.
The best results from the recent drilling include a four-metre hit at 46.7 grams of gold per tonne (g/t gold) from 80 metres, a five-metre hit at 8.83 g/t gold from 57 metres, and a one-metre hit at 21.36 g/t gold from 86 metres.
The company said these results showed excellent width and grade and demonstrated the continuation of the Golden Ridge mineralisation to the north. This mineralisation remains open along strike and at depth.
Meanwhile, Horizon said it had also received assays from 23 holes out of 43 in an aircore drilling program and Golden Ridge South.
Managing Director Jon Price said the latest results from Horizon’s drilling programs demonstrated the prospectivity within the greater Boorara project area. The Boorara project is home to Golden Ridge and several other regional exploration tenements in Kalgoorlie.
“With over 25km of strike to be tested beyond the current Boorara resource, we see significant potential for near-mine extensions and new discoveries in this mineral-rich geological setting and look forward to releasing further results in coming months,” Mr Price said.
Today’s drilling results come from a wider 50,000-metre drilling program for 2021, designed to test high-priority resource definition and new discovery targets across Horizon’s project portfolio.
Alongside its Golden Ridge South rig, Horizon said it had three other drill rigs in operation at the Yarmany, Black Flag, and Kestrel zones in its project area.
Looking ahead, the company said once all assays from its current drilling programs were received, it planned to upgrade the Golden Ridge mineral resource to include the new northern area.
Shares in Horizon Minerals were down 3.85 per cent to 12 cents each at 1:01 pm AEDT. The company has a $68 million market cap.