Horizon Minerals Limited has completed Phase 1 infill and extensional drilling at its 100 per cent owned Binduli Gold Project, located 9 kilometres west of Kalgoorlie in the Western Australian goldfields.
Drilling to date comprised 29 holes for 2,460 metres to a maximum depth of 144 metres across the Crake and Coote projects.
According to Horizon, the current mineral resource estimate for Crake stands at 1.27 million tonnes at 1.82 grams per tonne (g/t) of gold (Au) for 73,820 ounces (oz) at a 1g/t Au lower grade cut-off and remains open to the north, west and at depth [1][2].
New shallow high-grade drilling results received from Crake include [2]:
- 12m at 6.68g/t Au from 6m including 3m at 14.85g/t Au from 9m (BRC20018)
- 4m at 19.20g/t Au from 12m (BRC20020) *
- 4m at 5.78g/t Au from 24m (BRC20001) *
- 2m at 2.17g/t Au from 46m, 2m at 3.22g/t Au from 60m and 31m at 1.81g/t Au from 71m including 3m at 7.06g/t Au from 99m (BRC20014)
- 1m at 2.95g/t Au from 39m, 8m at 2.41g/t Au from 72m, 8m at 1.02g/t Au from 88m and 6m at 3.20g/t Au from 104m (BRC20012)
The results at Crake demonstrate excellent width and grade continuity across a 450-metre strike length with new mineralisation intercepted to the north and northwest.
Significant new results received from Coote, 700m to the west, include [2]:
- 2m at 1.89g/t Au from 62m, 1m at 12.70g/t Au from 67m, 17m at 1.67g/t Au from 78m and 1m at 1.24g/t Au from 116m (CRC20001)
- 2m at 1.54g/t Au from 28m, 3m at 1.10g/t Au from 58m, 10m at 3.20g/t Au from 68m and 8m at 1.08g/t Au from 99m (CRC20002)
- 4m at 2.44g/t Au from 56m (CRC20010) *
Horizon notes that results at Coote demonstrate the potential for additional high-grade resources with mineralisation open to the north and at depth.
Horizon Managing Director, Jon Price, said Binduli has become an outstanding emerging gold camp with Crake continuing to grow in scale and quality and the adjoining Coote deposit now firming up to have similar potential.”
“Both projects remain open with extensional RC drilling underway and we look forward to further drilling results this quarter from multiple rigs currently operating across the wider project area,” Mr Price added.
Horizon’s full announcement can be found here.
[1] As announced to the ASX on 10 December 2019.
[2] As announced to the ASX on 4 November 2020. See Table 1 on Page 6-7, Competent Persons Statements on Page 7 and JORC Tables on Pages 11- 20.
* denotes 4m composites with 1-metre split assays pending.