Australian explorer, Horizon Minerals Limited (ASX: HRZ) has completed Phase 1 infill and extensional drilling at its wholly owned Binduli gold project in the Western Australian goldfields.
Across the Crake and Coote prospects, 29 holes to date have been drilled for 2,460m to a maximum depth of 144m.
Results at Crake show excellent width and grade continuity across a strike length of 450m. Drilling outcome at Coote indicates the potential for additional high-grade resources.
The Company is undertaking Step out RC drilling at both prospects, and the results are anticipated in December Quarter 2020. Mine optimisation and design work for generating maiden Ore Reserve has started as part of the consolidated Feasibility Study and is scheduled for completion in the June Quarter 2021.
Following the announcement, HRZ shares edged up by 10%, trading at $0.110 (at 11:52 AM AEST)