Horizon Minerals could have unearthed a significant mineralised system after drilling at its Crake and Coote gold deposits intercepted a slew of high-grade gold intercepts. The company says it is now planning subsequent drilling ahead of an updated mineral resource estimate for Crake and a maiden estimate for Coote. The deposits form part of the larger Binduli project area near Kalgoorlie in WA.
Horizon Minerals could have a tiger by the tail unveiling a potentially significant mineralised system at its Crake and Coote gold deposits after extensional RC drilling intercepted a slew of high-grade gold intercepts. The company says it is now planning subsequent drilling and will feed the data into an updated mineral resource estimate for Crake and a maiden estimate for Coote. The deposits form part of the larger Binduli project area, eight kilometres west of Kalgoorlie in WA’s goldfield region,
The recently completed campaign saw the company plunge 11 RC holes totalling 1,237 metres to a maximum depth of about 120m. Horizon says the dual-pronged drilling program was aimed at testing strike extensions to the northwest and the relationship between the two deposits.
According to management, drilling at Crake delivered high-grade mineralisation outside its current resource envelope and includes a 6m intercept at 1.61 grams per tonne gold from 52 and 2m going 1.32 g/t gold from 62m. Other notable results include a 12m hit grading 2.70 g/t gold from 48m. Some of the longer strikes include a 40m section running 1.58 g/t gold from 39m.
Horizon believes the results show continuity along strike and to the west, with mineralisation remaining open to the north-west and west towards the Coote deposit.
The current mineral resource estimate for the Crake deposit stands at 1.42 million tonnes at 1.46 g/t gold for 66,500 ounces with a 0.8 g/t gold cut off.
Also, at the Coote deposit about a kilometre away, Horizon intercepted a picnic basket of precious metal hits including 5m at 10.52 g/t gold from 12m, including a 1m strike going a bonanza grade 42.98 g/t gold from 13m. Other significant results incorporate an 8m hit going 1.19 g/t gold from 42m.
The company’s latest probe of its Binduli project area forms part of a hulking 50,000m drilling blitz to drive its high priority resource growth and outline new discovery targets across its over 1,000 square kilometre portfolio. Horizon says the program could potentially enhance its project pipeline within a 75km radius of Kalgoorlie and establish ore reserves.
Horizon Minerals Managing Director Jon Price said:“These latest extensional drill results continue to demonstrate the growth potential of this large mineralised system within the Binduli project area. Further drill testing along strike and between these two deposits is planned in 2022 and we see the potential for significant resource growth all within close proximity to existing infrastructure in the Kalgoorlie region.”
The Crake and Coote deposits represent two of several potential feedstocks for Horizon’s Boorara mill, located about 20km away.
The Perth-based outfit’s latest results come hot on the heels of news that toll milling of stockpiled low-grade ore from its Boorara open pit mine turned a profit, with the company earning $770,000 from the first campaign of 69,700 tonnes processed at a reconciled grade of 0.92 grams per tonne gold for 1,857 ounces.
Horizon appears to have locked onto what could be a significant portion of the untapped potential east of Kalgoorlie-Boulder - an area with a storied history involving the precious yellow metal. Horizon’s already increasing portfolio might yet receive another boost by deposits like Crate and Cooke, fortuitously located just a pitching wedge from its wholly owned Boorara mill.
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