Horizon Minerals Returns Encouraging Drill Hits at Binduli

THE DRILL SERGEANT: Horizon Minerals (ASX: HRZ) announced reverse circulation (RC) drilling results from the company’s 100 per cent-owned Binduli gold project area located west of Kalgoorlie-Boulder in the Western Australian goldfields.

The results come from a follow up 56-hole RC drilling program completed at the Crake and Coote prospects, part of the Binduli gold project area.

The current Mineral Resource for Crake stands at 1.12 million tonnes at 1.59 grams per tonne gold for 57,700 ounces at a 1g/t lower grade cut-off.

Latest results received from Crake include:

3 metres at 7.41 grams per tonne gold from 81m and 10m at 1.78g/t gold from 102m;

5m at 4.91g/t gold from 36m and 9m at 1.58g/t gold from 65m;

3m at 3.18g/t gold from 14m and 4m at 2.47g/t gold from 55m;

3m at 1.28g/t gold from 10m, 1m at 2.91g/t gold from 17m, 1m at 2.13g/t gold from 25m, 1m at 5.19g/t gold from 32m and 14m at 1.75g/t gold from 44m;

12m at 1.65g/t gold from 32m;

10m at 1.46g/t gold from 77m;

1m at 3g/t gold from 57m and 7m at 2.78g/t gold from 97m.

Horizon Minerals said the results continue to demonstrate both width and grade continuity across a 450m strike length with the mineralisation open along strike to the north, east and to the west at depth.

Mine optimisation and design work has commenced as part of a consolidated Feasibility Study due for completion in the June Quarter 2020.

Results received from Coote, 700m to the west include:

1m at 8.18g/t gold from 40m and 1m at 1g/t gold from 64m;

1m at 5.1g/t gold from 53m;

1m at 1.76g/t gold from 17m, 5m at 1.4g/t gold from 24m and 4m at 2.63g/t gold from 51m;

1m at 2.7g/t gold from 9m, 4m at 1.22g/t gold from 36m and 1m at 1.03g/t gold from 59m and 1m at 1.87g/t gold from 65m and 1m at 1.06g/t gold from 91m; and

1m at 1.33g/t gold from 33m, 1m at 1.83g/t gold from 43m, 1m at 1.61g/t gold from 88m, 1m at 2.1g/t gold from 96m and 4m at 1.15g/t gold from 114m.

“The results continue to demonstrate that Binduli is a genuine contributor to our mine development and production pipeline as part of the consolidated Feasibility Study currently underway,” Horizon Minerals managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“The drilling has improved geological confidence and demonstrated excellent width and grade continuity over a 450 metres strike length and remains open in all directions.

“Further RC and diamond drilling is planned across the Binduli project area, located only 25 kilometres from our baseload Boorara gold project.”


Email: info@horizonminerals.com.au

Web: www.horizonminerals.com.au