Horizon Minerals Limited announced further excellent high grade drilling results from the 100% owned Peyes Farm gold project, part of the Teal project area located 10km north west of Kalgoorlie-Boulder in the heart of the Western Australian goldfields. The Teal camp comprises the Teal, Jacques Find and Peyes Farm deposits and is one of five core satellite gold project areas being advanced to complement the baseload Boorara gold project as part of the consolidated Feasibility Study to deliver an initial five-year mine plan and underpin the establishment of a stand-alone processing facility at the Boorara mine site. The program at Peyes Farm is the first since the highly successful drilling campaigns completed by the Company in 2017 delivering a Mineral Resource Estimate of 0.53Mt grading 1.70g/t Au for 28,860oz at a 1g/t Au lower cut-off grade. In the December Quarter 2020, the Company completed 49 Reverse Circulation ("RC") and three diamond holes for 3,808m to a maximum depth of 132m. The aim of the drilling was to: Infill a number of areas within the current mineralised envelope to improve JORC classification to the Measured and Indicated categories for Ore Reserve generation. Extend areas of supergene mineralisation beyond the current resource model. Provide diamond core for additional geotechnical assessment and confirmatory metallurgical test work for mine optimisation, design and economic analysis. Previous drilling by the Company during the 2016/2017 campaigns focussed on building the resource inventory with mostly step back and extension drilling. Combined with an improved gold price and encouraged by the success of the nearby Teal gold mine (open pit produced 229,000t @ 3.2g/t Au for 21,836 oz), the Company designed a program to maximise the open pittable tonnes and grade from the Peyes Farm oxide and transitional ore zones. Preliminary test work suggests that the Peyes Farm metallurgy is similar to the Teal deposit mined and processed successfully in 2018. Teal was mined to 65m vertical depth with excellent recoveries in both the oxide (94%) and transition (90%) ore zones. In the deeper primary sulphide mineralisation, typically below 80-90m depth, the metallurgy of the ore is semi-refractory and requires pre-oxidation through roasting or ultra-fine grinding to achieve acceptable recoveries. Variations in the depth of weathering and the fresh rock boundary at Peyes Farm were mapped in greater detail with the new drilling enabling an assessment of the supergene ore for conventional milling and treatment options to be reviewed on the primary sulphide mineralisation. The 2020 drilling also improved drill density to a more uniform 10m spacing allowing improved definition of the ore zones. New high-grade shoots were also discovered in this program. Similar to Teal, the highest grades were typically observed in the supergene zone at 25-80m vertical depth. Mineralisation remains open to the north and south within the supergene enrichment zone.