Commenting on the
"These latest drilling results continue to demonstrate the prospectivity within the greater Boorara project area. 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."
The drilling forms part of the 50,000m CY21 program testing high priority resource definition and new discovery targets across the 1,100km2 portfolio. The aim of the program is to organically grow the project pipeline within a 75km radius of Kalgoorlie. The Company currently has four rigs in operation at Yarmany, Black Flag, Kestrel and Golden Ridge South with multiple high priority targets being tested including gold, nickel, silver, zinc and pegmatites.
The recent stage 2 Golden Ridge RC program was completed to generate an initial inferred resource on 40m spacings and test extensions to the north of the historic open pit. The Air Core program tested new discovery targets to the south of
Project Geology
Gold mineralisation at
The historic
Summary of Results
Earlier this year Horizon Minerals drilled an initial 12 RC holes for 1,587m to test patchy historical mineralisation east of a small open cut ("
Better results from the first program included:
o 3m @ 1.08g/t Au from 94m and 26m @ 1.12g/t Au from 130m (GRRC21010)
o 9m @ 1.35g/t Au from 50m and 2m @ 1.07g/t Au from 81m (GRRC21009)
o 3m @ 1.67g/t Au from 47m, 1m @ 1.73g/t Au from 63m, 4m @ 2.01g/t Au from 66, 2m
@ 1.68g/t Au from 73m, 1m @ 1.01g/t Au from 79m, 1m @ 1.01g/t Au from 81m, 2m @
1.17g/t Au from 90m and 5m @ 3.15g/t Au from 142m (GRRC21001)
Subsequent downhole optical and acoustic televiewer imagery of the open holes was mostly unsuccessful with little structure being captured in the ore zones. Diamond core tails have not been drilled due to the lack of available rigs but will be considered in 2022.
Given the improving resource potential, the Company decided to expand the scope of the drilling by extending it a further 400m north and completing infill drilling on 40m spacings.
The stage 2 RC program consisted of an additional 42 holes for 5,308m with results from 11 RC holes still to be received.
Results from the program received to date included:
o 4m @ 46.70g/t Au from 80m* (GRRC21026)
o 5m @ 8.83g/t Au from 57m and 1m @ 1.28g/t Au from 100m (GRRC21035)
o 1m @ 21.36g/t Au from 86m (GRRC21034)
o 12m @ 2.75g/t Au from 32m* and 4m @ 1.87g/t Au from 88m* (GRRC21014)
o 8m @ 2.02g/t Au from 60m* (GRRC21013)
o 32m @ 1.27g/t Au from 64m* (GRRC21025)
The results received to date offer further encouragement (see Figure 2 below). Several new highgrade zones have been delineated. Similar high-grade structures were observed in the adjacent
A recently completed mapping exercise has confirmed that the drilling is targeting the same porphyry orebody that was mined at
About 2.5km south of
o 3m @ 5.01g/t Au from 52m including 1m @ 10.30g/t Au from 54m (GRAC21007)
o 4m @ 1.86g/t Au from 40m* (GRAC21021)
The recent mapping exercise has now confirmed this area as being the extension of the
The mapping has also identified highly magnetic olivine bearing magnesium (Mg) ultramafics (e.g., serpentinised komatiite) to the west of
Next Steps
Once all the assays are received, the Golden Ridge Mineral Resource will be updated to include the new northern area. The Air Core program in the southern
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/B8LY82GM
About
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of
Contact:
Managing Director
T: +61 8 9386 9534
E: jon.price@horizonminerals.com.au
Media Relations -
T: +61 422 602 720
E: michael.vaughan@fivemark.com.au
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