- Horizon Minerals (HRZ) receives further excellent results from its Kestrel discovery in Western Australia
- Around 50,000 metres of drilling is being undertaken to test high priority project generation and new discovery targets
- A total of 31 reverse circulation holes have been drilled with up to 42.27g/t gold intersected
- Further drilling has been planned beyond the 650-metre strike of Kestrel with aims to test over 1400 metres of prospective strike
- Horizon ends the day 4.76 per cent in the green with shares trading at 11 cents
Horizon Minerals (HRZ) has received further excellent results from its Kestrel discovery in Western Australia.
This forms part of the 50,000-metre program that is testing high priority project generation and new discovery targets.
The overall aim is to grow the project pipeline by adding to the six core development projects.
A total of 31 reverse circulation holes, for 3245 metres, were drilled at Kestrel with thick zones of shallow high-grade gold mineralisation intercepted.
Results include five metres at 13.22 grams of gold per tonne from 101 metres including one metre at 42.27g/t gold from 101 metres; and eight metres at 4.80g/t gold from 64 metres including one metre at 29.95g/t gold from 64 metres.
Mineralisation remains open at depth and to the south where the strike extends to 650 metres.
Managing Director Jon Price commented on the drilling program.
“These new high-grade results have confirmed and extended the mineralisation at Kestrel across a potential 650 metre strike length, and we are just scratching the surface with vertical depths to only 100 metres,” Mr Price said.
“The aim now is to test what lies beneath and infill along strike with two rigs running and further results expected in the current December quarter.”
Roughly 5000 metres of the planned 10,000-metre drilling program at Kestrel has been completed with significant success and results from several holes pending.
Further drilling has been planned beyond the 650-metre strike with aims to test over 1400 metres of prospective strike.
Horizon has ended the day 4.76 per cent in the green with shares trading at 11 cents in a $59.63 million market cap.