Australian explorer, Horizon Minerals Limited (ASX: HRZ) reported the completion of Reserve conversion infill drilling at Rose Hill Gold Project in Coolgardie, lying in the Western Australian goldfields. To date, 29 reverse circulation holes were drilled for 899m to a maximum depth of 65m.
Drilling at Rose Hill has returned shallow, high-grade results, which improved geological confidence within the mineralised envelope. It will facilitate an upgraded resource model.
Initial scoping work demonstrated open pit development potential, followed by decline development for accessing the higher-grade underground lodes at depth. Excellent overall gold recoveries of 92% – 96% were returned from metallurgical test work.
Horizon expects the updated resource model for Rose Hill in December Quarter 2020 and open pit and underground reserve studies are ongoing as part of the Feasibility Study.