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Horizon Gold Ltd ( (AU:HRN) ) has provided an announcement.
Horizon Gold has reported significant diamond drilling results from the Kingfisher prospect at its Gum Creek Gold Project in Western Australia, including high-grade intercepts such as 4 metres at 11.35 grams per tonne gold and multiple broader mineralised zones at depth. The drilling confirms the company’s geological model at Kingfisher, extends high-grade mineralisation down plunge to the north of the existing resource, and supports plans for further deep infill and extensional drilling that could materially expand the current open pit and underground resource base and strengthen the project’s long-term development potential.
The latest seven-hole diamond program, totalling 3,745.2 metres, targeted high-priority down-plunge extensions to earlier standout intercepts and has already delivered strong results from the first four holes, with assays from the remaining holes still pending. Management says Kingfisher is shaping up to be substantially larger than previously envisaged, and together with ongoing drilling at the nearby Omega prospect, the company is building a pipeline of results that may enhance Gum Creek’s underground mining optionality and overall attractiveness to investors and potential partners.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
More about Horizon Gold Ltd
Horizon Gold Limited is an Australian gold exploration and development company focused on its 100%-owned Gum Creek Gold Project in the Mid-West region of Western Australia. The company is advancing both open pit and underground mineral resource estimates, with key prospects such as Kingfisher and Omega positioned near the historic Gidgee Mill, underpinning its strategy to unlock underground gold potential.
Average Trading Volume: 67,033
Technical Sentiment Signal: Buy
Current Market Cap: A$209.5M
See more data about HRN stock on TipRanks’ Stock Analysis page.