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Horizon Gold Ltd.
Summary
| Project: | Gum Creek | |
|---|---|---|
| Deposit: | Heron South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-6-2017: Horizon Gold Ltd. announces an Exploration/Drilling Update report for its Heron South deposit at the Gum Creek project. Drilling results incl. 4m @ 5g/t Au from 99m. Horizon Gold Limited (ASX:HRN, Horizon, the Company) is pleased to release the | |
| Resources: | (Resource, I+I): 17.3Mt @ 2.25g/t Au for 1.25Moz Au contained at project | |
| CP/QP: | [Overall Report]: John Hicks (Internal) | |
| ABSTRACT: | Horizon Gold Limited (ASX:HRN, Horizon, the Company) is pleased to release the following drill results for the drill program completed at Gum Creek during April 2017. The drill program, involving 13 reverse circulation (RC) holes for 2,495 metres was designed to: 1. infill previous drilling at Heron South (refer to the Company’s ASX announcement of 10 March 2017); and 2. test several Wilsons Shear Zone Induced Polarisation (IP) geophysical targets (refer to the Company’s ASX announcement of 10 March 2017). Drilling of the initial five Wilsons Shear Zone IP targets has successfully demonstrated the technical effectiveness of the IP method in locating sulphide mineralisation in this geological environment. An additional four highly ranked Wilsons Shear Zone IP targets lying to the south of Wilsons are to be tested in the next round of drilling, which is scheduled to commence in August 2017. Horizon Gold Limited (ASX:HRN) is an exploration company focused on its 100% owned Gum Creek Gold Project in Western Australia. The Gum Creek Gold Project hosts JORC 2012 Mineral Resources of 17.3 million tonnes averaging 2.25g/t gold for 1.25 million ounces of gold. It is located within a well-endowed gold region that hosts multi-million ounce deposits including Big Bell, Wiluna, Mt Magnet, Meekatharra and Agnew/Lawlers. Horizon believes there are multiple high priority drill targets and plans to undertake ongoing exploration and development studies with the aim of becoming a stand-alone gold producer. The Company had $12.54 million in cash as at 31 March 2017 | |
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