Horizon Minerals Ltd (ASX:HRZ) has updated the Rose Hill mineral resource near Coolgardie, Western Australia to 1.2 million tonnes grading 2.49 g/t gold for 95,000 ounces at a 0.7 g/t gold cut-off grade.
The Rose Hill tenement was acquired as part of the asset swap with Northern Star Resources in September 2019, which saw Horizon divest its 100% interest in Anthill, Blister Dam, New Mexico, White Flag and Kanowna North to acquire Northern Star’s Rosehill, Brilliant North and Gunga West Projects in Coolgardie.
Horizon’s project area, resources and surrounding infrastructure
On completion of the asset swap transaction, Horizon undertook an internal and independent review of all projects to ensure compliance with the company’s parameters and the JORC 2012 Code.
Mineral resource estimates for Rose Hill, Gunga West and Golden Ridge were last released by Westgold in 2017.
Rose Hill, Gunga West and Golden Ridge mineral resource summary
A reverse circulation drilling program for 1,200 metres at Rose Hill was also completed during January 2020 to a maximum depth of 200 metres in order to conduct due diligence on certain historical holes as well as infill several areas to improve the geological confidence within the current resource model.
“Genuine contributor to our project pipeline”
Horizon managing director Jon Price said: “Rose Hill is certainly shaping up as a genuine contributor to our project pipeline demonstrating both high-grade open cut and underground potential with excellent widths and in close proximity to a centralised processing plant being assessed at Boorara as part of the Feasibility Study.
“We now look forward to further extensional and infill drilling at Rose Hill and our other core-satellite projects to complement the baseload Boorara gold project.”
Notable high-grade results include:
- 11 metres at 8.79 g/t gold from 43 metres;
- 10 metres at 6.28 g/t from 28 metres;
- 16 metres at 4.10 g/t from 93 metres;
- 7 metres at 7.26 g/t from 27 metres; and
- 7 metres at 3.76 g/t from 45 metres.
The company anticipates that most of the shallow ore will be upgraded to a measured category once the old pit is surveyed.
Assets highly prospective for further extensions
The company’s Coolgardie assets acquired from Northern Star (Rose Hill, Brilliant North and Gunga West) are contiguous with Focus Minerals Limited’s (ASX:FML) Coolgardie Gold Project and are highly prospective for further resource extensions with the potential for both open-cut and underground development.
These assets have now been consolidated into the geological database and will form part of the consolidated feasibility study due for completion in December 2020.
Further extensional and infill pit drilling is also planned to take place in the second half of 2020.