The company concluded this by reviewing historical drilling data, mine optimisation and open pit and underground designs.
Historical drilling included 17 metres at 3.08 g/t gold from surface supporting future open-pit mining, and 20 metres at 8.94 g/t gold from 77 metres supporting future underground mining.
The existing Rose Hill JORC resource stands 95,000 ounces grading 2.49 g/t gold down to 300 metres depth.
Resource updated expected next quarter
The data will be used to update the geological model with a new JORC resource estimate expected in the June quarter 2020.
Rose Hill joins Binduli, Teal and the baseload Boorara deposits as core advanced development projects for assessment as part of the feasibility study due in December 2020.
Rose Hill to potentially boost feasibility study
Horizon’s managing director Jon Price said: “Horizon has now received additional drilling data and mining information from Rose Hill and we have certainly found some hidden gems.
“The high grade open cut and underground potential is clearly demonstrated with more work already completed than first thought saving the company time and money.”
“We now look forward to incorporating the data into a new resource model and updating the open pit and underground mine designs with up to date operational and economic parameters for inclusion into the reserve generation work and feasibility study.”