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Horizon Minerals hits up to 21.16 g/t gold ahead of Boorara mining kick-off in June

Once all assay data are received in the coming weeks, the results will be used to compile an independent geological model for Boorara stage-1 comprising all three deposits.

Horizon Minerals Ltd - Horizon Minerals receives ‘excellent’ gold results up to 21.16 g/t ahead of Boorara mining kick-off in June
Discussions with mining, haulage and toll milling contractors are well advanced

Horizon Minerals Ltd (ASX:HRZ) has received ‘excellent results’ of up to 21.16 g/t gold in recent infill drilling at the Boorara Gold Project in WA’s Eastern Goldfields region.

Reverse circulation drilling totalled 18,000 metres across the Regal, Royal and Crown Jewel deposits on a minimum of 4 metres by 10 metres drill spacing to a maximum depth of 54 metres.

The aim of the program was to further test the grade uplift potential on a large scale and enable a new geological model to be compiled for mine optimisation, design and economic analysis.

The data will be used to update the global resource model as part of the feasibility study currently underway to underpin a standalone processing facility at Boorara.

Mining to begin in June quarter

Horizon managing director Jon Price said: “These initial results clearly demonstrate the scale and quality of the Boorara mineralised system with excellent width and grade continuity – we have barely scratched the surface.

“Our aim is to complete the grade control model, mine optimisation and stage-1 design in the March quarter and commence mining in the June quarter as well as third party toll milling in the September quarter.

“This will, in turn, provide invaluable geological and metallurgical reconciliation information for the larger-scale development as part of the consolidated feasibility study for Boorara and the satellite projects in close proximity due for completion in the December 2020 quarter.”

High-grade results

Notable results received from the Royal deposit include:

  • 6 metres at 21.16 g/t gold from 33 metres;
  • 21 metres at 2.65 g/t from 17 metres;
  • 29 metres at 2.44 g/t from 22 metres;
  • 24 metres at 2.17 g/t from 1 metre;
  • 18 metres at 2.61 g/t from 22 metres; and
  • 21 metres at 2.02 g/t from 19 metres.

Drilling demonstrates both continuity and significantly higher-grades intersecting both the main north north-west striking quartz dolerite zone with multiple north-west dipping quartz vein arrays.

Results for the Regal and Crown Jewel deposits are expected in the coming weeks ahead of the compilation of an updated geological model and mine production plan for Boorara stage-1.

Looking ahead

The results will be used to compile an independent geological model for Boorara stage-1, comprising all three deposits generated by BM Geological Services Pty Ltd.

Statuary approvals have been submitted to meet the company’s objective to begin mining at Boorara in June 2020 with toll milling to begin in the September quarter. 

Quick facts: Horizon Minerals Ltd

Price: 0.097 AUD

ASX:HRZ
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Market Cap: $41.51 m
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