Horizon Minerals Ltd (ASX:HRZ) has kicked off an aircore drilling program at the Cannon Gold Project in Western Australia with the intention of expanding the mining footprint on the tenure to include potential open cut mines at the nearby Monument and Pinner prospects.
Fully funded, the program will cover about 8,400 metres of exploration drilling.
The company also plans to test a new region to the north of the Cannon open cut mine, where historical drilling hit anomalous gold grades at depth but was never followed up.
HRZ is in the midst of finalising a maiden mineral resource for the Monument prospect, which will be released before the results from this drilling program.
Leveraging installed infrastructure
“With the development and mining of our Cannon underground gold project commencing in the December 2023 half, there is a great opportunity to leverage off the infrastructure being installed at Cannon to mine other assets in close proximity, such as Pinner and Monument,” Horizon Minerals CEO Grant Haywood said.
“Our goal is to be in sustainable, profitable production moving from one small project to the next.
“Therefore, our attention needs to focus on both building our pipeline of production-ready deposits and also testing new discovery targets which we can progress through the project pipeline.”
HRZ says its primary objectives for this 2023 winter program are to:
- Complete infill resource drilling (aircore/reverse circulation) at Monument and Pinner (2,230 metres of drilling);
- Test a discovery target north of the Cannon mine with one RC drill hole (180 metres);
- Follow-up recent diamond drilling at Penny’s Find with two deep RC holes (730 metres);
- Undertake new discovery drilling (aircore/RC) at Kanowna South and Lakewood following up exciting results from the FY22 program (2,660 metres); and
- Complete exploration drilling (aircore/RC) at the Kestrel and Honeyeater prospects at Binduli (2,600 metres).