Horizon Gold Limited announced broad high grade gold intercepts from reverse circulation (RC) and diamond drilling at its 100% owned Gum Creek Gold Project located in the Mid-West Region of Western Australia. All assay results have now been received from follow up RC and diamond drilling programs at the Kingfisher and Eagle prospects, and initial RC drilling at the Eagles Peak Prospect. The Kingfisher and Eagle prospects are located within the main Gidgee mining area, whilst Eagles Peak is located just 16 kilometres to the north of the Gidgee Mill with direct links to the existing haul road network (Figure 1).

The Company completed a total of 38 RC holes for 5,680 metres at the Kingfisher, Eagle and Eagles Peak prospects between June and October 2022, including four diamond holes for 763 metres at Kingfisher and Eagle. The results have identified additional broad and/or high-grade intercepts at all three prospects, and have highlighted the excellent potential to define a shallow maiden gold resource at the Eagles Peak Prospect. The Kingfisher Prospect lies approximately 3.5 kilometres south of the Gidgee mill.

The current Indicated and Inferred MRE for the prospect is 2.06Mt @ 2.19g/t Au for 145,100oz (Table A). Gold mineralisation at Kingfisher is located within two moderately southwest-dipping, planar gold lodes within a 60m wide, 1.2km long shear zone that remains open to the north, south and at depth. Both lodes are interpreted to contain moderately south plunging high grade gold shoots forming part of a large en-echelon vein array that steps down to the north.

The recent RC and diamond drilling program at Kingfisher comprised 9 holes for 2,281.9m, including 3 diamond tails for 642.5 metres. A broad, high-grade intercept of 15m @ 28.5g/t Au from 346m including 2m @ 189.8g/t Au from 351m was returned from diamond hole KFRC020D, which targeted a large gap in previous drilling within the eastern lode. Numerous specks of visible gold were identified in the core from 351.5m to 352.7m within a 3.5m wide quartz vein (Figure 2).

A second excellent intercept of 16m @ 4.4g/t Au from 174m including 6m @ 9.8g/t Au from 174m was returned from an RC hole (KFRC013) targeting gold mineralisation up-plunge of high-grade intercepts including 10m @ 8.9g/t from 190m1 drilled in 2021 (Figures 3 & 4, Table B). The recent drilling has confirmed the continuity of high-grade gold mineralisation at depth within both eastern and western gold lodes at Kingfisher. As a result, there is now excellent potential for additional drilling to add significant underground ounces to the current Kingfisher MRE by discovering additional high-grade shoots at depth, and to add open pittable ounces by extending the known gold mineralisation along strike to the north and south.

The Eagle Prospect is located just 1.4km south of the Gidgee mill. The current Indicated and Inferred MRE for the Prospect is 1.57Mt @ 1.47g/t Au for 74,200oz (Table A). Gold mineralisation at Eagle occurs within steeply dipping quartz-carbonate shear veins and flat lying quartz-carbonate tension vein arrays in altered basalt, within the NNW trending, steeply west dipping Kingfisher Shear Zone.

RC and diamond drilling (14 holes for 2,344.8m including 1 diamond tail for 120.5m) was completed down dip and along strike to the north and south of the maiden Eagle MRE, as follow up to the 2021 drill results.