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Horizon Minerals (ASX:HRZ) fetches high-grade gold results from Windanya Project Area

Summary

  • Horizon Minerals witnessed high-grade gold results at its new Scorpio and Gemini prospects, part of the Windanya project area.
  • Horizon intends to undertake further step-out drilling at the new 3.3-kilometre-long mineralised trend during the September and December quarters this year.
  • The follow-up drilling will target Scorpio, Gemini, Capricorn and Baden Powel.

The exploration endeavours of Horizon Minerals Limited (ASX:HRZ) are riding high at its 100%-owned Windanya and Baden Powell gold project areas, with the continuity of high-grade gold results from the ongoing Aircore and RC drilling.

Source: HRZ Update, dated 26 May 2021

Significantly, robust gold grades were reported at the new Scorpio and Gemini prospects on the grounds of the Windanya project area, along with significant mineralisation from infill drilling at Baden Powell.

ALSO READ: Horizon Minerals (ASX: HRZ) Buoyed up with Splendid Drilling Results at Windanya Gold Project

Following the significant update, HRZ shares surged 4.2% on 26 May 2021, closing at A$0.125.

So far, drilling of 57 aircore holes for 2,097 metres and 21 RC holes for 1,653 metres has been completed to a maximum 138 metres depth.

ALSO READ: Horizon Minerals (ASX:HRZ) March Quarter Brimming with Slew of Developments

Casting an eye on the Drilling Results at the Windanya Project

Priority Target near Capricorn Prospect

The priority target area, situated 1.5 kilometres north of the Capricorn prospect, has an exceptionally high-order anomaly (626ppb Au) against a background of < 30ppb Au, as demonstrated by ultrafine soil sampling.

Six aircore holes drilled to refusal across the anomaly returned the best results in WAC20019. The results include:  

ALSO READ: Horizon Minerals (ASX:HRZ) Revving Up Developments to Monetise High-Grade Gold Deposits

Gemini Prospect

At Gemini prospect, Horizon completed seven holes for 673 metres as a part of follow-up RC drilling to return significant results. The new drilling indicated the presence of a stronger supergene component and complexity compared to what was previously known. Follow-up AC drilling is planned.

Source: Copyright © 2021 Kalkine Media, Data Source: HRZ update, dated 26 May 2021

ALSO READ: Horizon Minerals’ (ASX: HRZ) Project Acquisition Further Widens its Gold Footprint

Scorpio Prospect

Meanwhile, seven AC holes for 256 metres and nine shallow RC holes for 510 metres were drilled at the Scorpio prospect. The discovery hole WAC20003 intercepted shallow, high-grade, quartz vein mineralisation within a weathered ultramafic host rock. The mineralisation at the Scorpio prospect is open in all directions, with a follow-up drilling planned.

Source: Copyright © 2021 Kalkine Media, Data Source: HRZ update, dated 26 May 2021

Drilling Results at Baden Powell

A total of 17 RC holes were completed in infill drilling for 924 metres, with significant mineralisation continued to be intercepted.

Source: Copyright © 2021 Kalkine Media, Data Source: HRZ update, dated 26 May 2021

The drilling has proven successful in mapping out the shallow strike continuation of the main Baden Powell mineralisation. Horizon intends to incorporate the results into a Mineral Resource Estimate scheduled for the December Quarter 2021.

Next Steps

The drilling activities at the Windanya and the Baden Powell gold project areas form part of the 50,000-metre drill program for the current year. The program aims to organically expand the project pipeline within a 75-kilometre radius of the proposed Boorara mill augmenting the six core development projects, which the Company is evaluating as part of the consolidated Feasibility Study.

ALSO READ: Horizon Minerals (ASX:HRZ) in a Solid Position with 34% Gold Grade Uptick at Boorara

While the Company intends to conduct a follow-up RC drilling for Capricorn, Gemini, Scorpio and Badel Well, a resource estimate is planned for Capricorn and Baden Powel. Horizon has also planned drill testing of many new identified targets centred in the widespread Aquarius soil anomaly and Capricorn-Eureka trend in 2021.

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