Horizon chalks up quality gold hits at Kalgoorlie prospects

ASX-listed gold producer Horizon Minerals has recorded a raft of encouraging intersections from an RC drilling campaign at its Honeyeater prospect, part of its Binduli gold project area about 5km west of Kalgoorlie-Boulder in WA’s Goldfields. The highlight was 1m at 68.04 grams per tonne gold from 74m, inside a larger 2m section going 34.85 g/t gold from the same depth.

Another hole at Honeyeater struck a 2m parcel grading 5.34 g/t gold from 28m and housed a higher-grade 1m section running 9.98 g/t gold from 28m.

Other notable hits include 2m at 3.34 g/t gold from 44m, 1m going 3.09 g/t gold from 68m and 1m running 2.74 g/t gold from a depth of just 28m.

The strikes form part of a 13-hole program at the prospect that will see Horizon test more than 1000m of strike extensions and evaluate a number of potentially gold-bearing targets scattered around its Binduli project area.

According to the company, the mineralisation at Honeyeater stretches more than 200m in strike length and remains open to the north, south and at depth.

Horizon has its foot on several gold deposits in the area and says Honeyeater offers a similar geological makeup to its nearby Teal asset. Mineralisation at Teal is hosted above narrow bands of quartz sulphide veins and the deposit holds a 1.81 million resource going 2.2 g/t gold for more than 128,000 ounces.

Drilling at the Honeyeater prospect is continuing and is aimed at testing the limits of its mineralisation.

At the Black Flag prospect about 15km north-west of Honeyeater, RC drilling has turned up several high-grade results after a probe of a previously defined gravity structure.

Better strikes include 5m at 3.03 g/t gold from 30m inside a larger 8m section going 2.19 g/t gold from 30m. Another hole at Black Flag yielded a 1m parcel of gold going 2.74g/t from 26m.

The campaign at Black Flag is aimed at following up on a raft of gold hits defined through a 2021 program and included 15 holes for 1188m.

Horizon Minerals’ Managing Director, Jon Price said: “The results show the growth potential of the Binduli area progressing into a large mineralised system of multiple deposits, along with the very encouraging results at the early-stage Black Flag project.”

According to the company, both prospects are highly prospective and results from recent programs warrant additional drilling. Horizon plans to chase up potential extensions to the zone's mineralisation next year.

The Perth-based producer lays claim to a number of strategic assets spread across a suite of in-vogue commodities.

The company’s WA-focused gold tenements cover about 1100 square kilometres and collectively house a 1.15 million-ounce gold resource. It plans to bolster the already solid figures through 65,000m of drilling this financial year.

Horizon also has a 25 per cent stake in a 6 million tonne vanadium resource at a project in Queensland and has its hands on a raft of nickel-cobalt, copper, silver-zinc and platinum-group targets in WA’s highly productive Goldfields region.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au