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Horizon Gold Ltd.
Summary
| Project: | Gum Creek | |
|---|---|---|
| Deposit: | Psi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/7/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-6-2018: Horizon Gold Ltd. announces an Exploration/Drilling Update report for its Psi deposit at the Gum Creek project. Drilling results incl. 6m @ 3.58g/t Au from 149m. Horizon Gold Limited (ASX Code: HRN) (Horizon or the Company) is pleased to provide | |
| 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 an update on its exploration activities. Activities reported include: High-grade underground Mineral Resources at the Swan deposit currently total 85,800oz of gold (refer to the ASX announcement released by Panoramic Resources Limited (ASX:PAN) on 14 October 2016). The Company has undertaken a reinterpretation of the geological controls on high-grade mineralisation in the Swan Premium Lode and Butcherbird Shear at the north end of the Swan system, which has indicated the potential to significantly increase the underground Mineral Resources in this area with additional drilling. Following the geological reinterpretation, the Company has estimated Exploration Targets of between 30,000oz to 100,000oz contained gold for Swan Premium and 270,000oz to 810,000oz contained gold for Butcherbird Shear. Descriptions of the assumptions and methodologies used to derive the Exploration Targets are provided below. All drilling results used in the estimation of the Exploration Targets are historical in nature and are based on drilling completed by previous owners of the Gum Creek Project. The Company cautions that it is unable to fully verify the locational accuracy, sampling protocols or analytical quality control procedures for some of the historical results. The Swan Premium Lode is a mineralised, north-striking, steeply east dipping (60-70 degrees) conjugate vein set emanating from a broader, north-striking, steeply west dipping shear structure (Butcherbird Shear). The Butcherbird Shear is located 50-70m to the east of existing underground mine development on the Cascade Lode. | |
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