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Horizon Gold Ltd.
Summary
| Project: | Gum Creek | |
|---|---|---|
| Deposit: | Psi, Toedter | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-10-2017: Horizon Gold Ltd. announces an Exploration/Drilling Update report for its Psi, Toedter deposit at the Gum Creek project. Drilling results incl. 7m @ 4.94g/t Au from 55m. Horizon Gold Limited (ASX Code: HRN) (Horizon or the Company) is a gold c | |
| 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. During the quarter, a total of 27 RC drill holes for 3,120 drill metres were completed over ten targets. Preliminary sample analysis was undertaken using 4m composite spear samples. Where zones of anomalous (>0.5g/t Au) gold mineralisation were detected, individual 1m assay samples, obtained from an onboard splitter to produce a 3kg assay sample, were submitted for analysis. Gold analysis was by fire assay, using a 30g charge. Refer to Table 1 for a full list of the completed drill holes and assay results received to date. The assay results are reported to a 1.0g/t gold lower cut-off grade and are based on the 1m RC assay split samples unless denoted by an asterisk (*), in which case the intercept is based on the preliminary 4m composite assay sample. Appendix 1 contains the appropriate JORC 2012 Compliance Tables to accompany these results. | |
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