Gum Creek Drilling Yields 14m at 4.34g/t and 11m at 6.90g/t Gold Intercepts

Extensive Drilling Campaign Delivers Strong Results

Horizon Gold Limited (ASX – HRN) has announced a robust set of drilling results from its 100% owned Gum Creek Gold Project in Western Australia's Mid-West region. The company completed 122 reverse circulation (RC) holes and 12 geotechnical diamond holes across 15 prospects, returning multiple high-grade gold intercepts that confirm and extend previously identified mineralisation.

Among the standout results are intercepts such as 14 meters at 4.34 grams per tonne (g/t) gold from 24 meters at the Eagle Prospect, and 11 meters at 6.90 g/t gold from 27 meters at the Reliance Prospect. These findings underscore the project's extensive prospectivity and suggest a mine life potentially longer than earlier studies predicted.

Advancing Resource Confidence and Project Development

The drilling program has tightened drill spacing to approximately 20 by 20 meters within pit shells optimized in the March 2024 Scoping Study. This enhanced data density is expected to increase confidence in the mineral resource estimates. Horizon Gold plans to incorporate these results into an updated mineral resource estimate due in the third quarter of 2025.

Managing Director Leigh Ryan highlighted that the results not only confirm the known mineralisation but also reveal extensions along strike and at depth, particularly at key prospects like Eagle, Reliance, Hawk, and Shiraz. The company is also leveraging geotechnical data from diamond core to refine pit design and optimize mining parameters for the forthcoming Feasibility Study (FS).

Feasibility Study Progress and Future Exploration

Work on the Gum Creek Feasibility Study remains on schedule for completion in early 2026. Key components such as geotechnical studies, metallurgical test work, environmental surveys, mine design, heritage assessments, and water management are progressing well. Water bore drilling and pump testing are underway to support a comprehensive site-wide water balance model.

Beyond the current drilling, Horizon Gold is planning further resource expansion drilling at several open pittable resource areas not included in the 2024 Scoping Study. The company is also exploring underground mining options at high-grade targets to enhance the project's economic potential. With gold prices remaining strong, the Gum Creek Project is positioned as a robust, standalone mining operation.

A Project with Depth and Scale

The Gum Creek Gold Project hosts a substantial mineral resource estimate of approximately 44.45 million tonnes at 1.50 g/t gold, equating to over 2.14 million ounces. The resource includes a significant portion classified as Indicated, providing a solid foundation for development. The recent drilling results reinforce the continuity and quality of mineralisation across multiple prospects, supporting the project's long-term viability.

As Horizon Gold advances towards finalising its Feasibility Study and updating its resource model, the market will be watching closely for how these developments translate into production potential and project economics.