High Grade Drill Results From New Monument Gold Project
High Grade Drill Results From New Monument Gold Project

Perth, Aug 16, 2022 AEST (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to announce new gold drilling results from the 100% owned Greater Boorara - Cannon project area located 30km southeast of Kalgoorlie - Boulder in the heart of the Western Australian goldfields (Figure 1*).

HIGHLIGHTS

- First phase of exploration drilling completed at the new Monument gold prospect, within the Greater Boorara - Cannon gold project area 30km southeast of Kalgoorlie - Boulder in the Western Australian goldfields

- Drilling comprised 14 RC holes for 2,156m testing extensions and validating historic drilling results 900m southwest of the advanced Cannon gold project

- Significant new high-grade mineralisation intercepted including

o 4m @ 4.63g/t Au from 68m and 4m @ 7.76g/t Au from 80m (CARC22024)
o 7m @ 2.40g/t Au from 59m (CARC22004)
o 5m @ 4.09g/t Au from 99m inc. 1m @ 16.13g/t Au from 99m (CARC22022)
o 4m @ 3.78g/t Au from 44m (CARC22005)

- Mineralisation now defined along 600m of strike length and remains open to the north, south and at depth

- At the emerging Homerton prospect midway between Cannon and Monument, four holes for 408m were drilled in a new line to test the interpreted southwest trend

- Results were positive and included

o 3m @ 0.99g/t Au from 50m (CARC22011)
o 9m @ 1.94g/t Au from 75m (CARC22013)
o 4m @ 1.02g/t Au from 104m (CARC22014)

- Follow up extension drilling will commence in the current September Quarter with 3,000m planned at Monument, Homerton and the nearby Pinner prospect

- Regional exploration is progressing at several historic prospects in the Cannon - Glandore area for both gold and nickel sulphides with further results expected in the current Quarter

Commenting on the exploration results, Horizon Managing Director Mr Jon Price said:

"These excellent drilling results at Monument and Homerton clearly demonstrate the potential of the area to deliver significant resource growth in close proximity to the advanced Cannon underground gold project.

"We now look forward to the results of the next round of drilling and resource modelling to complement our existing resource base in the area supporting both an open pit and underground production hub as part of our contract mining - toll milling model for cash generation."

The drilling forms part of the current FY23 exploration program focussing on new discoveries within the Greater Boorara - Cannon, Lakewood and Yarmany project areas.

The Cannon area appears to be highly prospective with several historic prospects located within a 1km radius of the open cut mine. Two of the more advanced prospects, Monument and Homerton, were recently drilled to both validate historic drilling and test for potential strike and depth extensions.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/770EZ1Z6


About Horizon Minerals Limited

Horizon Minerals Ltd  Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

 


Contact

Jon Price
Managing Director
T: +61 8 9386 9534
E: jon.price@horizonminerals.com.au

Michael Vaughan
Media Relations - Fivemark Partners
T: +61 422 602 720
E: michael.vaughan@fivemark.com.au



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