Horizon Gold Extends High-Grade Gold at Gum Creek Amid Feasibility Progress

Significant Down-Plunge Extension at Omega

Horizon Gold Limited (ASX:HRN) has delivered a fresh wave of optimism for its Gum Creek Gold Project with diamond drilling results revealing high-grade gold mineralisation extended over 120 metres down plunge at the Omega Prospect. The four new holes returned standout intercepts including 14 metres at 2.87 grams per tonne (g/t) gold from 337 metres, featuring an 8-metre segment grading 4.60 g/t. Other notable hits included 5 metres at 3.81 g/t and 1 metre at 5.46 g/t, confirming continuity beneath historic underground workings.

The Omega mineralisation is hosted in folded Banded Iron Formation (BIF) with high-grade shoots associated with quartz-filled sinistral faults and breccia zones. This structural insight has underpinned a revised 3D geological model ahead of a maiden Mineral Resource Estimate (MRE) for the prospect, signalling new underground mining opportunities beyond the known footprint.

Kingfisher Drilling Validates and Expands Resource Margins

Meanwhile, at Kingfisher, located just 3.5 kilometres from the Gidgee Mill, the final three holes of an initial seven-hole diamond drill program have confirmed and expanded the existing resource model. Intercepts such as 5 metres at 2.42 g/t gold, including 3 metres at 3.56 g/t, and 2 metres at 4.61 g/t with a high-grade 1 metre at 8.65 g/t highlight the presence of multiple high-grade shoots within a 60-metre wide shear zone.

The Kingfisher lodes dip moderately southwest and remain open along strike and at depth. The company has ramped up drilling intensity, deploying two diamond rigs operating double shifts to accelerate resource upgrade efforts. This follows recent confirmation of new high-grade gold shoots at Kingfisher that underpin resource growth potential, as detailed in recent Kingfisher mineralisation extension coverage.

Feasibility Study Progress and Project Scale

The Gum Creek Feasibility Study is advancing steadily, with surface and groundwater modelling, cost estimates, and risk assessments largely complete. Report writing is underway, targeting a mid-2026 delivery. The study builds on the March 2024 Scoping Study which painted a robust economic picture for the project, now further supported by elevated gold prices. Preparations for mine development and closure planning have also commenced.

Gum Creek holds a substantial Mineral Resource Estimate of 37.97 million tonnes at 1.89 g/t gold, equating to 2.3 million ounces, including 1.63 million ounces in the indicated category. This resource base underlines the project’s potential as a stand-alone mining operation. The ongoing drilling programs at Omega and Kingfisher, alongside shallow RC drilling at other prospects, aim to expand and upgrade this resource further, continuing the momentum seen in recent months, including the company’s successful $30 million capital raise to fund exploration and study activities capital boost for exploration.

Strategic Outlook and Next Steps

Managing Director Scott Williamson emphasised that the recent results validate Horizon Gold’s strategy to unlock high-grade ounces beneath historic workings, with the company only beginning to tap the project’s potential. The deployment of two diamond rigs around the clock at Kingfisher and plans for a maiden MRE at Omega reflect a clear commitment to resource growth and project advancement.

With the feasibility study on track and a strong resource base, Horizon Gold is positioning Gum Creek for development amid a favourable gold price environment. The coming weeks promise further assay results and resource updates that will be critical to watch as the company moves closer to a final investment decision.