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Horizon Gold Ltd.
Summary
| Project: | Gum Creek | |
|---|---|---|
| Deposit: | Premium-Butcherbird | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/24/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-9-2018: Horizon Gold Ltd. announces an Exploration/Drilling Update report for its Premium-Butcherbird deposit at the Gum Creek project. Drilling results incl. 8m @ 19.7g/t Au from 297.0m. Non-Executive Chairman, Peter Harold, said “we are very 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: | Non-Executive Chairman, Peter Harold, said “we are very pleased with the results of this initial drilling program, which demonstrate the prospectivity of the Premium Lode/Butcherbird Shear. Given the size of the estimated Exploration Targets for both the Premium Lode and the Butcherbird Shear, these results warrant additional drilling.” Details Horizon Gold Limited (ASX Code: HRN) (Horizon or the Company) is pleased to provide this interim update on further assay results received from the recently completed first-pass twelve-hole diamond drill program to test the Butcherbird Shear and Premium Lode. Results have now been received for nine of the twelve holes and are reported herein. Results for the remaining three holes are expected in the next few weeks. 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 of between 30,000oz to 100,000oz contained gold for the Premium Lode and 270,000oz to 800,000oz contained gold for the 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. | |
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