- Horizon Minerals (HRZ) Obtains New Batch of Drill Results at the Golden Ridge Project in the Goldfields Region of WA
- The results come from a 42-hole phase two program completed last year which aimed to generate an initial mineral resource and test extensions to the north
- Top intersections include 14 meters at 3.62 g/t gold, including a higher grade of 40.3 g/t gold over one meter
- Multi-element work has also highlighted a large area of anomalous mineralization hosted in nickel-cobalt-copper regoliths which will be followed by drilling
- HRZ ended the day in the gray at 12 cents
Horizon Minerals (HRZ) has received a new batch of drill results from the Golden Ridge project in the goldfields region of Western Australia.
The results come from a 42-hole phase two reverse circulation (RC) program that was part of a larger 50,000 meter drilling effort to test high priority resource definition and new targets on the project.
Phase two RC drilling was specifically aimed at generating an initial mineral resource and testing extensions north of the historical open pit.
Best intersections include two meters grading 26.11 grams per tonne (g/t) gold from 69 meters and 14 meters grading 3.62 g/t gold from 106 m, including one meter at 40 .3 g/t gold from 119 meters.
The company said assays confirm the prospectivity of the Golden Ridge extension work, with mineralization remaining open to the north and at depth.
Follow-up drilling is expected to begin in the June quarter.
In addition, Horizon received multi-element composite results from air core drilling at Golden Ridge South which highlighted an extensive zone of regolith-hosted anomalous mineralization up to 0.62% nickel, 460 parts per million copper and 0.13% cobalt in an ultramafic host.
Several holes also contained anomalous levels of silver, including up to 48 g/t, in massive and saprolitic clays. The company plans to drill in the pit and on the surface and begin testing the potential southward extension of Golden Ridge.
“Golden Ridge continues to demonstrate the potential for large-scale extensions and the continuity to the northwest and south is very encouraging,” said general manager Jon Price.
HRZ ended the day in the gray at 12 cents.