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HORIZON GOLD LIMITED

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Horizon Gold Limited is a gold exploration and developer based in Perth, Western Australia.

The Company’s flagship Gum Creek Gold Project located 640km north east of Perth, represents an exciting gold exploration and potential development opportunity in a historically proven gold province. The Project covers approximately 724 square kilometres that has previously produced over 1.1Moz Au, and currently hosts JORC 2012 Mineral Resources of 17.3Mt averaging 2.25g/t Au containing 1.25Moz Au.

Importantly, Horizon believes there are multiple new drilling targets and potential resource extension opportunities at the Gum Creek Gold Project.


Further information can be located at the Company’s website: www.horizongold.com.au


The Gum Creek Gold Project covers approximately 724km2 and hosts JORC 2012 Mineral Resources of 17.3Mt averaging 2.25g/t Au containing 1.25Moz Au.

It is located within a well-endowed gold region that hosts multi-million ounce deposits including Big Bell, Wiluna, Mt Magnet, Meekatharra and Agnew/Lawlers. Importantly, Horizon believes there are multiple high priority drill targets and possible resource extension opportunities at the Project which could grow the existing resource inventory.


Due to its previous operational status, the Project benefits from substantial legacy infrastructure remaining on site. Existing infrastructure at the site includes a 110 person camp, operational airstrip, tailings storage facilities, and an extensive road network. A 600,000tpa processing plant is also on site, however due to its age and condition significant capital investment on refurbishment would be required to return the plant to operating condition.
[​IMG]

Drilling at Gum Creek

  • IP surveying along the Wilsons Shear, north of the Wilsons Deposit, has identified two new priority IP drill targets
  • Only 14km of the 70km Wilsons Shear strike has been tested by detailed IP
  • RC drilling to test four IP anomalies identified on the Wilsons Shear together with infill and extensional resource drilling at Heron South to commence in the second half of March
  • An Options Study for processing refractory mineralisation is being undertaken by GR Engineering
  • Metallurgical testwork on refractory mineralisation is progressing with the aim of optimising flotation parameters and improving metallurgical recoveries
The Company’s proposed strategy for the Gum Creek Gold Project comprises three key objectives:
  • Undertake extensional and infill drilling to grow the known resources and lift defined resources into higher-confidence JORC categories;
  • Undertake regional exploration targeting new gold discoveries outside of the known resources; and
  • Carry out development studies (including but not limited to metallurgical and processing investigations) on the free milling and refractory mineralisation.
The proposed work programs will be undertaken over a two year period.
[​IMG]
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