Horizon Minerals Limited: High Grade Gold Mineralisation at Kestrel Confimrs Potential for New Discovery
Perth, Australia - Horizon Minerals Ltd. (ASX:HRZ) is pleased to announce spectacular new drilling results from the 100% owned Kestrel discovery, part of the Binduli gold project area, located 13km northwest of Kalgoorlie - Boulder in the heart of the Western Australian goldfields (Figure 2*).HIGHLIGHTS
- Thick zones of shallow and high-grade gold mineralisation intercepted with 1m split assay results received to date including:
o 18m @ 4.64g/t Au from 49m including 1m @ 56.65g/t Au from 64m and 5m @ 5.22g/t Au from 94m including 1m @ 18.91g/t Au from 97m (KRC21002)
o 15m @ 4.66g/t Au from 84m including both 1m @ 21.69g/t Au from 84m and 1m @ 18.50g/t Au from 98m (KRC21007)
- Drilling program comprised 15 RC holes for 1,630m at the emerging Kestrel prospect with assay results pending for 8 holes (830m) including repeat assays due to high levels of nuggety gold panned from samples
- Mineralisation open along strike and at depth with a dedicated 10,000m RC and diamond drilling program to commence in the current September Quarter testing depth and strike extensions at Kestrel and other priority targets along the 10km Janet Ivy shear
This phase of drilling forms part of the 50,000m CY21 program testing high priority project generation and new discovery targets across the 1,100km2 portfolio. The aim of the drilling program is to organically grow the project pipeline within a 75km radius of the proposed Boorara mill adding to the six core development projects under evaluation as part of the consolidated Feasibility Study due for ompletion in the second half 2021.
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About Horizon Minerals Limited:
Horizon Minerals Ltd. (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
Source:
Horizon Minerals Ltd.
Contact:
Jon Price Managing Director T: +61 8 9386 9534 E: jon.price@horizonminerals.com.au Michael Vaughan Media Relations - Fivemark Partners T: +61 422 602 720 E: michael.vaughan@fivemark.com.au