The updated independent mineral resource estimate is 1.42 million tonnes grading 1.46 g/t gold for 66,500 ounces at a 0.8 g/t gold lower cut-off grade
Horizon Minerals Ltd has updated the mineral resource estimate (MRE) for its Crake Project within the Binduli project, west of Kalgoorlie-Boulder in the Western Australian Goldfields.
A total of 51 reverse circulation (RC) holes and three diamond holes were completed for 5,043 metres to infill areas for improved classification and for structural, geotechnical and metallurgical assessment.
The updated independent mineral resource estimate is 1.42 million tonnes grading 1.46 g/t gold for 66,500 ounces at a 0.8 g/t gold lower cut-off grade.
Horizon managing director Jon Price said: Crake and the Binduli area, in general, are certainly shaping up to be significant contributors to our future production profile providing high-grade satellite feed to complement the baseload Boorara project 25 kilometres to the east.
We look forward to completing the maiden ore reserve for Crake and continuing the step-out drilling at the Coote, Kestrel and Honeyeater prospects to the north, he said.
95% of the ounces are now in the indicated resource category with preliminary optimisation work indicating potential for high conversion to ore reserve.
Metallurgical test-work results demonstrate strong gold recoveries of 98.9% and 95.9% for the oxide and fresh composites respectively with high gravity recoveries.
Mine optimisation and open pit design work is well advanced with a maiden ore reserve for Crake expected in the December quarter of 2021.
RC drilling has been completed in the December 2020 and March 2021 quarters on a 20 x 20-metre pattern. It spanned 500 metres and covered mineralisation from 10 metres to 140 metres vertical depth.
The updated MRE will now be used for open pit mine optimisation, design and economic analysis for the generation of a maiden ore reserve for Crake.