Horizon Minerals strikes gold

HIGH grade drill results have been announced at the Rose Hill, Gunga West and Golden Ridge gold mining projects in WA.
The sites, near Kalgoorlie and Coolgardie, were acquired by Horizon Minerals under an asset swap with Northern Star resources in September and December last year.
According to Horizon management, Rosehill has produced about 1340 oz of gold at 8.3g/t gold from 5000t since 1898.
The drill results came after 12 Reverse Circulation (RC) holes at Rose Hill, which were conducted for the purpose of due diligence.
Significant assays of gold, associated with stock work quartz veining and increased pyrite abundance, were found within a steep dipping, porphyry host rock.
Confirmation of solid gold mineralisation was discovered beneath the pit floor.
Further infill pit drilling is planned in the anticipation that quantities of the shallow ore will be upgraded to a measured category following assessments of the old pit.
RHRC20012 returned 16m at 4.10g/t Au from 93m and confirms the underground potential at Rose Hill.
Mineralisation extends to 300m vertical depth, according to historical drilling results.
Rose Hill lies on the western margin of the Archean Norseman-Menzies Greenstone Belt.