Horizon Minerals drilling highlights greater Boorara project area’s golden growth potential

Horizon Minerals Ltd latest round of exploration drilling has confirmed the growth potential of its broader Boorara Gold Project area in Western Australia’s Goldfields. The emerging producer has just completed its first-pass campaign over the 10-kilometre Boorara-Golden Ridge corridor as part of an extensive 50,000-metre exploration program across the company’s 1,100-square kilometre portfolio. Horizon drilled 25 reverse circulation holes, covering 2,833 metres, to test a suite of near mine and regional baseload targets between the 448,000-ounce Boorara and the 31,000-ounce Golden Ridge gold deposits. Overall, the fresh drilling has unsurfaced mineralisation beyond the current resource envelopes, confirmed two emerging prospects and demonstrated that mineralisation at the Boorara project area remains open along strike and at depth. Latest results showcase prospectivity Horizon Minerals managing director Jon Price said: “These latest drilling results continue to demonstrate the prospectivity within the greater Boorara project area in close proximity to the large scale Boorara deposit and the proposed mill site. “With over 20 kilometres of strike to be tested beyond the current Boorara resource, we see significant potential for near-mine extensions and new discoveries in this mineral-rich geological setting and look forward to releasing further results in coming months.” Map of Horizon's exploration portfolio in WA's Goldfields. The results are in As part of the first-pass exploration campaign, Horizon drilled 12 holes, for 1,587 metres, across the Golden Ridge project area. Drilling in this region targeted east of a small open cut mined by Blue Tiger Pty Ltd over 2017 and 2018. Positively, this work showed that significant mineralisation exists outside of the current resource envelopes, with mineralisation intersected adjacent to the Golden Ridge North pit. Some of the best results include: 3 metres at 1.08 g/t gold from 94 metres and 26 metres at 1.12 g/t from 130 metres; 3 metres at 1.41 g/t from 100 metres and 12 metres at 1.11 g/t from 128 metres; and 9 metres at 1.35 g/t from 50 metres and 2 metres at 1.07 g/t from 81 metres. A further developing prospect is located 1.8 kilometres northwest of Golden Ridge, where one reverse circulation test hole returned 8 metres at 1.3 g/t gold from 53 metres and 1-metre at 1.31 g/t from 70 metres. In addition to drilling at Golden Ridge, Horizon conducted further exploration at the Beehive and Chappell Bore prospects, near Boorara. Overall, drilling identified a new 2.5-kilometre-long mineralised corridor, west of Boorara’s Regal and Royal pits, firming up the region as a new priority area. Some of the best intersections from this exploration include: 8 metres at 1.35 g/t gold from 64 metres and 2 metres at 1.14 g/t from 60 metres; and 1-metre at 1.46 g/t from 38 metres, 3 metres at 1.98 g/t from 46 metres and 1-metre at 1.13g/t from 61 metres. What’s next? Ultimately, the results indicate that mineralisation remains open along strike and at depth, with follow up drilling planned in the current quarter to test the potential continuity between the Boorara and Golden Ridge deposits. Drilling is also scheduled to test a number of targets north of the Boorara deposit, 10 kilometres up to the Kanowna south prospect. At Golden Ridge, diamond tails drilling is planned to complete the initial 12-hole program with three deep holes designed to intersect the historical mineralised zones at depth. This information, alongside newly acquired drone imagery, will help provide new and valuable structural data. In addition, an external consulting firm is being engaged to help build the geology and mineralisation model. Finally, step back reverse circulation drilling east of Golden Ridge North, together with drilling across the southern extension, is also scheduled.