Horizon Minerals Estimates Resources for Monument and Golden Ridge North

THE DRILL SERGEANT: Horizon Minerals (ASX: HRZ) reported the first Mineral Resource Estimates (MRE) for the company’s Monument and Golden Ridge North prospects near Kalgoorlie in Western Australia.

The Monument gold prospect is part of Horizon’s Cannon project group and is located less than 1km from the proposed Cannon underground project, 30km to the southeast of Kalgoorlie.

The Golden Ridge North prospect is immediately adjacent to the historic Golden Ridge open pit mine, 20km to the southeast of Kalgoorlie.

The JORC compliant resources estimated by Horizon for both deposits are as follows:

Monument – 395,000 tonnes at 1.97 grams per tonne gold for 25,000 ounces at a 0.8g/t gold cut-off grade; and

Golden Ridge North – 1.42 million tonnes at 1.23g/t gold for 57,000 ounces at a 0.8g/t gold cut-off grade.

Horizon noted that the addition of these new resources, and reduction due to the completion of the Gunga West divestment, the company’s total Mineral Resource estimate now stands at 23.22 million tonnes at 1.69g/t gold for approx. 1.3 million ounces.

“These projects provide Horizon with additional potential for satellite ore sources to complement the underground production at the Cannon gold project due to their proximity, enabling synergies with shared infrastructure and personnel,” Horizon Minerals CEO Grant Haywood said in the company’s ASX announcement.

“We shall immediately commence the study work to bring these maiden resources into an Ore Reserve and progress approvals in parallel, as we build our production profile to reach our ultimate goal of becoming an emerging mid-tier gold business for the benefit of all stakeholders.”

Horizon has drilling underway at Monument focussing on the shallower mineralisation aiming to upgrade this portion of the resource to an Indicated category.

At the Golden Ridge North deposit, a scoping study has been initiated to examine open pit mining opportunities in conjunction with Monument.