Horizon Gold has reported significant high-grade gold intercepts from recent drilling at its Kingfisher prospect within the Gum Creek Gold Project, revealing new down-plunge extensions and enhancing the project's resource outlook.
- High-grade gold intercepts up to 42.2g/t Au over 1m at Kingfisher
- New down-plunge high-grade shoots identified beyond existing resource
- Seven diamond holes drilled with assays pending for three holes
- Feasibility study for stand-alone Gum Creek operation on track for H1 2026
- Ongoing drilling at Omega prospect with assays awaited
Significant Drilling Success at Kingfisher
Horizon Gold Limited (ASX: HRN) has announced promising results from its latest diamond drilling campaign at the Kingfisher prospect, part of its 100% owned Gum Creek Gold Project in Western Australia's Mid-West region. Four of seven holes drilled have returned assays confirming and extending known high-grade gold mineralisation, including standout intercepts such as 4 metres at 11.35 grams per tonne (g/t) gold, highlighted by a 1-metre section grading 42.2 g/t Au.
These results validate the company’s geological model and reveal new zones of mineralisation plunging down to the north, beyond the boundaries of the current resource estimate. The discovery of a third high-grade shoot approximately 150 metres down plunge from previous drilling underscores the potential for further resource growth.
Expanding the Resource and Development Pipeline
The Kingfisher prospect currently holds an open pit mineral resource estimate of 1.22 million tonnes at 2.01 g/t Au for 78,900 ounces and an underground resource of 1.04 million tonnes at 3.38 g/t Au for 113,500 ounces. The recent drilling program, which included a total of 3,745 metres across seven holes, was designed to test high-priority targets down plunge of previously identified high-grade intercepts.
Managing Director Scott Williamson expressed optimism about the results, noting that Kingfisher is shaping up to be substantially larger than initially envisaged. He highlighted that the company is systematically unlocking underground potential across Gum Creek, with a strong newsflow pipeline supported by ongoing drilling at the nearby Omega prospect.
Feasibility Study Progressing on Schedule
Alongside exploration, Horizon Gold is advancing a comprehensive feasibility study aimed at developing a stand-alone gold operation at Gum Creek. The study is progressing well, with key technical reports on metallurgy, geotechnical aspects, processing, and environmental surveys completed. Infrastructure designs and water management plans are nearing finalisation, keeping the project on track for completion in the first half of 2026.
The company remains confident in the project's robustness, bolstered by recent high gold prices and positive outcomes from a March 2024 scoping study. The Gum Creek Gold Project currently boasts a total mineral resource estimate of 37.97 million tonnes at 1.89 g/t Au, equating to approximately 2.3 million ounces of gold.
Looking Ahead: Drilling and Resource Updates
Further deep infill and extensional drilling at Kingfisher is planned to increase resource confidence and target additional ounces within newly identified shoots. Meanwhile, drilling at the Omega prospect continues, with assays pending from four deep diamond holes designed to test extensions of previously impressive high-grade mineralisation.
These exploration efforts, combined with the advancing feasibility study, position Horizon Gold to potentially unlock significant value from the Gum Creek Project in the near term.
Bottom Line?
As Horizon Gold continues to expand high-grade zones and advance its feasibility study, the Gum Creek Project’s potential as a major gold operation is becoming increasingly tangible.
Questions in the middle?
- What will the pending assay results from the remaining Kingfisher and Omega holes reveal about resource size and grade?
- How might the new down-plunge shoots impact the timing and scale of potential mining operations?
- What are the key risks or challenges that could affect the feasibility study’s final outcomes?