Gum Creek Drilling Targets 4,400m to Expand 2.14 Million Ounce Gold Base
Horizon Gold has initiated a 4,400m drilling campaign at its Gum Creek Gold Project to expand its 2.14 million ounce gold resource, targeting multiple prospects near the historic Gidgee Mill. A follow-up diamond drilling program will explore high-grade underground targets, aiming to extend the mine life and enhance project economics.
- 4,400m reverse circulation drilling underway at four prospects near Gidgee Mill
- Targets open pittable maiden gold resources to expand 2.14Moz resource base
- Diamond drilling planned for October to test high-grade underground targets
- Focus on Kingfisher and Omega deposits for underground resource growth
- Feasibility study progressing with potential mine life extension
Drilling Commences to Expand Resource Base
Horizon Gold Limited (ASX – HRN) has kicked off a significant reverse circulation (RC) drilling program at its 100% owned Gum Creek Gold Project in Western Australia. The 4,400-metre campaign targets four key prospects, Goldfinch, Robin, Thornbill West, and Toucan, all situated within a tight 3-kilometre radius of the old Gidgee Mill. The objective is clear – to delineate new open pittable gold resources that comply with JORC standards and to build upon the existing 2.14 million ounce gold resource.
This drilling initiative is a strategic move to extend the project’s mine life beyond the current scope, potentially unlocking additional value for Horizon Gold. The proximity of these prospects to established infrastructure like the Gidgee Mill could facilitate a smoother transition from exploration to production, should the results prove favourable.
Underground Targets in Focus with Upcoming Diamond Drilling
Complementing the RC program, Horizon Gold plans to commence a diamond drilling campaign in early October aimed at high-grade underground targets at the Kingfisher and Omega deposits. This deeper drilling is designed to define and expand the underground resource base, with the Omega deposit expected to yield its maiden gold resource.
These efforts underscore the company’s commitment to exploring both near-surface and deeper mineralisation, which could diversify mining options and improve project economics. The outcomes will feed into ongoing feasibility studies, helping Horizon assess the viability of underground mining alongside open pit operations.
Project Outlook and Strategic Implications
The Gum Creek Gold Project currently holds a Mineral Resource Estimate of 44.45 million tonnes at 1.50 grams per tonne gold, translating to 2.14 million ounces. Notably, 63% of this resource is classified as Indicated, providing a solid foundation for development planning. Horizon Gold views Gum Creek as a robust standalone operation with significant upside potential, particularly through resource expansion and underground mining opportunities.
Additional drilling at other open pittable resource areas not yet included in feasibility studies could further increase the resource size and economic viability of the project. As Horizon advances its feasibility study, these drilling programs will be critical in shaping the future production profile and extending the mine life beyond the current 10-year outlook.
With drilling underway and a clear strategy to unlock both surface and underground resources, Horizon Gold is positioning Gum Creek as a key asset in its portfolio, potentially delivering long-term value for shareholders.
Bottom Line?
As drilling progresses, Horizon Gold’s next resource updates will be pivotal in defining Gum Creek’s future and its role in the company’s growth story.
Questions in the middle?
- What initial assay results will the RC drilling yield, and how might they impact the resource estimate?
- How economically viable will the underground targets at Kingfisher and Omega prove after diamond drilling?
- What timeline can investors expect for updated feasibility study outcomes incorporating new drilling data?
