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Horizon Minerals Ltd.
Summary
| Project: | Binduli | |
|---|---|---|
| Deposit: | Crake, Coote | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/20/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-8-2019: Horizon Minerals Ltd. announces an Exploration/Drilling Update report for its Crake, Coote deposit at the Binduli project. Drilling results incl. 3m @ 7.41g/t Au from 81m. Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) (former | |
| Resources: | (Resource, I+I): 1.12Mt @ 1.59g/t Au at Crake | |
| CP/QP: | [Overall Report]: David O’Farrell (Internal) | |
| ABSTRACT: | Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) (formerly Intermin Resources Limited) is pleased to announce further excellent reverse circulation (“RC”) drilling results from the 100% owned Binduli gold project area located 9km west of Kalgoorlie-Boulder in the heart of the Western Australian goldfields (Figure 1). Commenting on the latest drilling results, Horizon Minerals Managing Director Mr Jon Price said: “The results continue to demonstrate that Binduli is a genuine contributor to our mine development and production pipeline as part of the consolidated Feasibility Study currently underway. The drilling has improved geological confidence and demonstrated excellent width and grade continuity over a 450m strike length and remains open in all directions. Further RC and diamond drilling is planned across the Binduli project area, located only 25km from our baseload Boorara gold project.” In 2018, the Company commenced drilling at the historic Crake prospect where previous work had located encouraging gold mineralisation within a porphyry host rock. The drilling totalled 85 RC holes for 8,096m, and produced an initial Mineral Resource Estimate of 1.12Mt @ 1.59g/t Au for 57,700oz at a 1g/t lower grade cut-off 1 . An independent first pass mine optimisation of the resource showed positive results and highlighted areas where further drilling could improve geological confidence and extend the mineralisation. In May the Company commenced a second stage follow up RC program to infill and test for shallower levels of gold mineralisation. A total of 42 holes for 3,102m were completed at Crake. | |
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