THE DRILL SERGEANT: Horizon Minerals (ASX: HRZ) reported an updated Mineral Resource Estimate (MRE) for the Jacques Find – Peyes Farm project, situated within the company’s 100 per cent-owned Teal gold project area northwest of Kalgoorlie-Boulder in Western Australia.
Jacques Find – Peyes Farm are two of six core open pit and underground satellite gold projects Horizon Minerals is advancing to complement the baseload Boorara gold project as part of a Feasibility Study to deliver a minimum five-year initial mine plan and underpin the establishment of a stand-alone centralised processing facility at the Boorara mine site.
RC and diamond infill and extensional drilling was completed in the December 2020 and March 2021 quarters, data from which has now been incorporated into the geological model for the updated MRE.
The drilling confirmed width and grade continuity within the supergene zone with mineralisation remaining open to the north and south and Horizon has further, follow-up drilling planned.
The resultant updated independent Mineral Resource estimate now stands at:
1.74 million tonnes at 2.32 grams per tonne gold for 130,000 ounces at a 0.8g/t gold lower cut-off grade.
Over 55 per cent of the ounces are now in the Indicated Resource category.
“After the successful completion of the Teal gold mine in 2018, the exploration team have done an excellent job in defining additional resources within the Teal gold camp 10 kilometres northwest of Kalgoorlie-Boulder,” Horizon Minerals managing director Jon Price said in the company’s ASX announcement.
“We now look forward to completing mine optimisation and design studies for Ore Reserve generation in the December Quarter 2021 as part of the consolidated Feasibility Study.”