- Horizon Minerals (HRZ) has completed its phase 1 drilling at the Binduli Gold Project in Western Australia
- A total of 29 holes were drilled across the Crake and Coote prospects to provide additional information for mine planning
- Results peaked at 19.2g/t gold from Crake and 12.7g/t gold from Coote
- Step-out RC drilling is now underway at both prospects with results expected in the December quarter
- Horizon is up an even 10 per cent on the market and shares are currently trading for 11 cents each
Horizon Minerals (HRZ) has completed its phase 1 drilling at the Binduli Gold Project in Western Australia.
A total of holes, for 2460 metres, were drilled across the Crake and Coote prospects with aims to support the upcoming mining studies and provide additional information for mine planning.
Crake Drilling
Horizon began drilling at Crake in 2018 after previous work had intersected encouraging gold mineralisation.
85 RC holes were drilled and an initial mineral resource estimate (MRE) of 1.12 million tonnes at 1.59g/t gold for 57,700 ounces was defined.
Follow-up drilling was carried out in 2019 which increased the MRE to 1.27 million tonnes at 1.82g/t gold for 73,820 ounces.
Best results from the recently completed drilling program include four metres at 19.2g/t gold from 12 metres and 12 metres at 6.68g/t gold from six metres including three metres at 14.85g/t gold from nine metres.
These new results have demonstrated the width and grade continuity across a 450 metre strike length.
Coote Drilling
Six holes were drilled at the Coote Prospect to build on the 2019 drilling and test the strike of historic high-grade mineralisation.
Significant results include one metre at 12.7g/t gold from 67 metres, 10 metres at 3.2g/t gold from 68 metres, and four metres at 2.44g/t gold from 56 metres.
Follow-up drilling has now begun to test the surrounding areas of the mineralisation.
“Binduli has become an outstanding emerging gold camp with Crake continuing to grow in scale and quality, and the adjoining Coote deposit now firming up to have similar potential,” Managing Director Jon Price said.
“Both projects remain open with extensional RC drilling underway and we look forward to further drilling results this quarter from multiple rigs currently operating across the wider project area,” he added.
Step-out RC drilling is now underway at both Crake and Coote with results expected in the December quarter.
Horizon is up an even 10 per cent on the market and shares are trading for 11 cents each at 1:52 pm AEDT.