- Horizon Minerals (HRZ) is updating the Kalpini Gold Project’s mineral resource estimate (MRE)
- The WA-based project’s MRE sits at 1.87 million tonnes at 2.33g/t for 139,000 ounces with over 78 per cent of the ounces in the indicated category
- The Kalpini Gold Project is being advanced to complement the broader Boorara Gold Project as part of a consolidated feasibility study to outline a mine plan
- Horizon plans to use data from drilling earlier this year, as well as the MRE, to complete a maiden ore reserve for the project which is due early next year
- Company shares are trading steady at 11 cents
Horizon Minerals (HRZ) has updated the mineral resource estimate (MRE) for the Kalpini Gold Project in Western Australia.
The Kalpini Gold Project is one of six open pit and underground satellite gold projects being advanced to complement the Boorara Gold Project as part of a consolidated feasibility study.
This study aims to outline a five-year initial mine plan and support the establishment of a stand-alone processing facility at the Boorara mine site.
The project’s updated MRE now sits at 1.87 million tonnes at 2.33 grams of gold per tonne (g/t) for 139,000 ounces at a cut-off grade of 0.8g/t gold. Importantly over 78 per cent of the ounces are now in the indicated category.
The mineral resource was completed using data from drilling completed in the first half of this year.
The results not only returned high grades of up to 54.25g/t gold, they also showed open pit and underground potential with excellent width and grade continuity and mineralisation open along strike and at depth.
Managing Director Jon Price said he was pleased with the updated resource estimate.
“Kalpini was acquired late in 2020 for $2.75 million and it is very encouraging to see excellent drilling results enabling an improved JORC 2012 Mineral Resource estimate with significant open pit and underground growth potential,” Mr Price said.
Horizon Minerals will use the drilling data and MRE to generate a maiden ore reserve for the Kalpini project. The company expects to complete this early next year.
Company shares were trading steady at 11 cents at 1:28 pm AEST.