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Horizon Gold Ltd.
Summary
| Project: | Gum Creek | |
|---|---|---|
| Deposit: | Psi, Toedter, Ray Charles, Shiraz South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-12-2017: Horizon Gold Ltd. announces an Exploration/Drilling Update report for its Psi, Toedter, Ray Charles, Shiraz South deposit at the Gum Creek project. Drilling results incl. 1m @ 20.6g/t Au from 133m. Horizon Gold Limited (ASX:HRN, Horizon, the 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:HRN, Horizon, the Company) is pleased to give an update on recent exploration activities undertaken at Gum Creek. In the September 2017 Quarterly Activities Report, the Company advised that it had completed the initial phase of exploration on the 14 regional priority targets listed in the Company’s IPO Prospectus (October 2016). The Company also advised that it had commenced, in August 2017, follow-up drill testing on 20 new prospect areas generated as a result of the initial phase of exploration (Figure 1). The follow-up drill programs, using a combination of reverse circulation (RC) and aircore (AC) drilling methods, are expected to be completed early in the New Year. The majority of assay results from the drilling programs completed to date have now been received by the Company and are presented in this release. In the September 2017 Quarterly Activities Report, the Company reported on 27 reverse circulation (RC) drill-holes at 10 prospects areas. Since the quarterly report and prior to a scheduled break in the RC drill program in November, a further six RC drill-holes were completed. Drilling resumed in early December, and an additional six RC drillholes were completed at Wilsons South prior to a mechanical failure of the rig’s compressor system, which has delayed completion of the program until a replacement drill rig can be sourced in early January 2018. Ten RC holes at Ray Charles, Howards, Big West and Rail remain to be drilled to complete the initial FY2018 RC drilling program. | |
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