Horizon Gold Limited (ASX: HRN) has obtained a “spectacular” intercept of 52m @ 5.9g/t Au from 91m from the maiden Reverse Circulation (RC) drilling at the Wedge Prospect, at its 100% owned Gum Creek Gold Project located in the Mid-West Region of Western Australia.
All assay results have now been received from initial RC drilling programs at the Wedge and Melbourne Bitter prospects, and follow up RC drilling at the Think Big Prospect. All three prospects have direct links to the existing haul road network.
“The Wedge intercept is one of the more spectacular results received from the Gum Creek Project to date and could potentially be a “tip of the iceberg discovery” located just two kilometres from the Gidgee Mill,” Managing Director Leigh Ryan, said.
“Melbourne Bitter and Think Big also show real potential to become significant gold resources and strengthen the Company’s strategy of developing a stand-alone gold processing operation for the Gum Creek Project.”
The company completed a total of 32 RC holes for 3,183 metres at the Wedge, Melbourne Bitter and Think Big prospects during September/October 2022. The results have uncovered an exciting new high-grade shoot at the Wedge Prospect, and have highlighted the excellent potential to define a maiden shallow gold resource at Melbourne Bitter and additional gold mineralisation along strike and at depth at the Think Big Prospect.
Wedge Prospect
The Wedge Prospect is located 2km northeast of the historic Gidgee Mill and was previously mined by open cut methods in the early 1990’s, however there is no current MRE for the prospect.
The recent RC program at Wedge (11 holes for 1,452m), has extended previously interpreted shallow south plunging high grade gold mineralisation and identified a complex fault zone that offsets gold mineralisation between the Wedge and Wedge North pits.
Significant gold intercepts were returned from the program, including a spectacular intercept of 52m @ 5.9g/t Au from 91m to EOH including 13m @ 16.7g/t Au from 123m (WERC002) down plunge to the south of the Wedge pit, and 6m @ 1.8g/t Au from 54m including 3m @ 3.0g/t Au from 55m (WERC005) from the central fault zone. The WERC002 intercept is supported by high grade historic intercepts up plunge to the north and remains open down plunge to the south.
High-grade gold mineralisation at Wedge is located within shoots that dominantly plunge ~30 degrees to the south and north, and are associated with quartz-pyrite veined, strongly sheared, strongly altered basalt. Folded sediments and felsic intrusives also host lower grade mineralisation in the northern parts of the prospect.
Mineralisation is continuous over a 450 metre strike and is currently defined to a maximum vertical depth of 110 metres, with the base of complete oxidation at ~60 metres below surface.
There is excellent potential to outline a significant gold resource at Wedge, and with additional drilling further extend the known gold mineralisation down dip and down plunge both to the north and south of the numerous broad and high grade intercepts identified in historic drilling
Melbourne Bitter Prospect
The Melbourne Bitter Prospect is located 26km north of the historic Gidgee Mill. The prospect has not been previously mined and there is no current MRE.
Initial RC drilling at Melbourne Bitter (16 holes for 1,432m) has confirmed the impressive shallow gold mineralisation identified in wider spaced historic RC drilling and has identified excellent potential for an open pittable resource at the prospect. Significant gold intercepts received from the recent RC drilling (Table C) included:
7m @ 6.5g/t Au from 101m including 4m @ 11.1g/t Au from 101m (MBRC032) 17m @ 2.6g/t Au from 34m including 10m @ 4.1g/t Au from 36m (MBRC025) 20m @ 2.1g/t Au from 35m including 6m @ 3.1g/t Au from 49m (MBRC026)
18m @ 1.2g/t Au from 36m including 3m @ 3.4g/t Au from 50m (MBRC024)
5m @ 3.6g/t Au from 79m including 2m @ 7.8g/t Au from 80m (MBRC026)
8m @ 2.2g/t Au from 64m including 5m @ 3.2g/t Au from 65m (MBRC026) 12m @ 1.2g/t Au from 59m including 3m @ 3.4g/t Au from 59m (MBRC025)
For further information please visit: https://horizongold.com.au/
