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Horizon Gold Ltd.
Summary
| Project: | Gum Creek | |
|---|---|---|
| Deposit: | Gum Creek | |
| Location: | Australia | |
| Commodities: | Gold-Zinc-Copper | |
| Date: | 10/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-10-2018: Horizon Gold Ltd. announces an Exploration/Drilling Update report for its Gum Creek deposit at the Gum Creek project. Drilling results incl. 1.7m @ 9.7g/t Au from 122.0m. Horizon Gold Limited (ASX Code: HRN) (Horizon or the Company) is pleased | |
| Resources: | (Resource, I+I): 17.303Mt @ 2.25g/t Au for 1.25Moz Au contained at project | |
| CP/QP: | [Overall Report]: John Hicks (Panoramic Resources Ltd.) | |
| ABSTRACT: | Horizon Gold Limited (ASX Code: HRN) (Horizon or the Company) is pleased to provide this update from the recently completed first-pass twelve-hole diamond drill program to test the Butcherbird Shear and Premium Lode at the northern end of the Swan system, part of the Company’s Gum Creek Gold Project. Results have now been received for all twelve holes and are reported herein. Premium Lode and Butcherbird Shear As reported in Horizon’s ASX announcement of 7 June 2018, the Company recently undertook a reinterpretation of the geological controls on high-grade gold mineralisation in the Premium Lode and Butcherbird Shear at the northern end of the Swan system. This reinterpretation highlighted the potential to significantly increase the underground Mineral Resources in this area with additional exploration drilling. Following the geological reinterpretation, the Company estimated Exploration Targets for the Premium Lode and Butcherbird Shear. For details on the assumptions and methodologies used to derive the Exploration Targets refer to Appendix 3 and to the Company’s ASX announcement of 7 June 2018. An initial diamond drill program of 12 holes totalling 4,897 drill metres on the Premium Lode and Butcherbird Shear Exploration Targets commenced in late June 2018 and was completed on 22 August 2018. The aim of the program was to assess the validity of the Exploration Targets by drilling a broad spread of holes to test and support the predicted thickness and grade of the models in those areas. | |
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