Half Yearly Report and Accounts
Perth, Mar 8, 2024 AEST (ABN Newswire) - During the half-year ended 31 December 2023, Horizon Minerals Limited (
ASX:HRZ) completed 7,004 m of AC and RC drilling as part of the > 50,000 m resource definition and new discovery exploration program across the entire 1,100 km2 asset portfolio.
Reverse Circulation (RC) drilling was completed at the Monument and Pinner prospects near the Cannon Open Cut Gold Mine 28 km south east of Kalgoorlie. A total of 27 holes for 1,530m was drilled. The results highlighted potential for two small open cut gold mines new and updated Mineral Resource Estimates have commenced in 2024.
Two deep RC holes were drilled at the Pennys Find deposit 50 km north east of Kalgoorliewas drilled to 396 m depth with an RC rig and returned encouraging mineralisation up to 5 m @ 2.97 g/t Au from 370 m. The depth extents of Pennys is regarded as open, especially to the north.
Exploration prospects at Kanowna South, Falcon, Kestrel, Honeyeater, Rundle Dam and Golden Ridge were all progressed with small, dedicated RC and AC programs that totalled 4,441 m. Follow up work is planned in 2024.
Horizon Minerals developed some lithium interests during the first half of this financial year. At Yarmany East, a conceptual exploration model defined by 14 km of semi-contiguous auger and soil anomalies over the Reptile Shear was proposed. Further confirmatory work is planned in 2024. The Yarmany West Ni-Li prospect was optioned out to Metal Hawk in July 2023 who are now progressing the prospect with detailed AEM, drilling and auger geochemistry.
A new project area at Bridgetown, WA was acquired in October 2023. The Bridgetown-Greenbushes project host favourable geology and known occurrences of pegmatites less than 4km away. Future work in 2024 will focus on soil geochemistry, target generation and access agreements.
*To view the full half year report, please visit:
https://abnnewswire.net/lnk/44A6LGSC
About Horizon Minerals Limited
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.
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