Horizon Minerals (ASX:HRZ) identifies two ‘promising’ nickel prospects at Cannon

• Horizon Minerals (HRZ) says it has identified two “promising” nickel prospects through data review of historical work at its wholly owned Cannon project
• Five holes totalling 990 metres were drilled to test new targets and validate historical nickel results at the Euston and Blair North prospects within the project
• First hole at Euston has returned encouraging preliminary assay results, including 4 metres at 1 per cent nickel, 607 ppm copper and 250 ppm cobalt
• Results from four remaining holes are pending
• Horizon Minerals shares last traded 3.8 per cent lower at 12.5 cents as of 2:00 pm AEST

Horizon Minerals (HRZ) says a data review of historical work has identified two “promising” nickel prospects at its wholly owned Cannon project.

Five holes totalling 990 metres were drilled to test new targets and validate the historical nickel results at the company’s Euston and Blair North prospects within the Cannon project, located near Kalgoorlie-Boulder, Western Australia.

Horizon said the first hole at Euston has already returned encouraging preliminary assay results, and it is awaiting the results from the four remaining holes over the coming weeks.

The results received include a 4-metre hit at 1 per cent nickel, 607 parts per million (ppm) copper and 250 ppm cobalt.

“Looking ahead, we are enhancing our search for nickel sulphide extensions through the downhole EM surveys being undertaken at Cannon and Golden Ridge which will inform future drill programs south east of Kalgoorlie,” Managing Director Jon Price said.

The drilling formed part of Horizon’s current program focusing on new discoveries across its 1100-square-kilometre portfolio.

The Cannon deposit was discovered by Southern Gold Limited in 2008.

Horizon Minerals shares last traded 3.8 per cent lower at 12.5 cents as of 2:00 pm AEST.