Cannon produces 16,000 ounces at AISC
The Penny's Find underground is next in sequence and has 43,000oz in resource. Drilling last year identified a new lode system to the north with intercepts including:
o 5.0m @ 5.27g/t Au from 180.3m (P1_010)
o 3.7m @ 7.46g/t Au from 215.3m (P1_005)
o 2.7m @ 8.64g/t Au from 171.4m and 1.7m @ 17.91g/t Au from 178.9m (P1_007)
o 1.9m @ 13.95g/t Au from 251m (P1_009)
o 0.9m @ 23.56g/t Au from 216.7m (P1_006)
o 2.0m @ 8.47g/t Au from 227m (P1_008)
o 2.5m @ 7.45g/t Au from 226m (P1_020)
This new lode system will be followed up with ~4,000m of RC and DD in April to grow the resource and reserve along strike and at depth. In addition, resource and production drilling will be completed at Rose Hill UG, Binduli (Coote, Crake and Kestrel) and the greater
Plenty of news flow to come from Cannon and drill results. Horizon is now in a trading halt pending an announcement on a capital raise for Cannon capex and drilling.
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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
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