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Horizon Gold Ltd.
Summary
| Project: | Gum Creek | |
|---|---|---|
| Deposit: | Psi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-4-2018: Horizon Gold Ltd. announces an Exploration/Drilling Update report for its Psi deposit at the Gum Creek project. Drilling results incl. 12m @ 1.27g/t Au from 96m. Horizon Gold Limited (ASX Code: HRN) (Horizon or the Company) is a gold company fo | |
| 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 a gold company focussed on exploration and development activities at the 100% owned Gum Creek Project in Western Australia. Gum Creek has historically produced over one million ounces of gold, and hosts JORC 2012 Resources of 17.3 million tonnes averaging 2.25g/t gold for 1.25 million ounces of gold (refer to the Company’s IPO Prospectus submitted to ASIC on 21 October 2016). The funds raised from the IPO in December 2016 are being used to fund an aggressive exploration program and development studies at Gum Creek. A review of the drilling in the Premium Lode vicinity has identified a number of historical high-grade intersections that appear to align with the broader lode structure outside of the Resource, and wide areas where there has been no effective drill testing of the interpreted lode position (Figure 1). If this new interpretation is correct, then the Premium Lode structure may have considerable exploration upside. A concept study based on the Premium Lode historical Mineral Resource indicates that a lowtonnage, high-grade underground mining option with off-site toll milling could be feasible. Work on the high-grade study is ongoing, with a drill program to test the interpreted lode extensions planned for late in the June 2018 quarter. | |
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