Horizon controls a number of prospective tenements within the Coolgardie region including Anthill, Blister Dam, New Mexico, Area 54 and Yarmany. Together, the projects are groups under the title of Coolgardie Regional.

Anthill

Horizon acquired the Anthill project in early 2017, located 54 km northwest of Kalgoorlie-Boulder in Western Australia and favourably located on the highly prospective Zuleika Shear.

The geology is dominated by a variolitic basalt with lesser amounts of porphyry and ultramafic rocks observed. At least two mineralised trends are evident and add to the geological complexity at Anthill. The gold mineralisation is pervasive and occurs in a number of settings, the most important being a quartz stock work of thin veins with carbonate-sericite-silica-sulphide alteration. Some of the gold is coarse and is easily visible in panned RC chips.

The host rock is intensely weathered to 70 to 80 metres depth and there is a surface layer of soil and lateritic mineralisation 1 to 8 metres thick. Mineralisation is continuous from around 20 metres depth to the depth limit of drilling at around 250 metres.

Mineralisation has been intercepted to the north, south and east beyond the current resource envelope and remains open in all directions. New drilling undertaken by Horizon has extended the known strike length from approximately 100 metres on acquisition, to more than 400 metres. Two areas of significant mineralisation outside of the initial resource envelope have now been discovered. Anthill South is dominated by the NW “Zuleika Shear” structure and appears to be the strike extension of Anthill. Anthill East looks to be more controlled by a NE cross structure and lacks significant primary ore at depth, with the bulk of the ore being supergene/transitional ore.

The strike extensions and additional ore to the south and east updated the historical
resource via an independent JORC (2012) Mineral Resource of:

2.28 Mt @ 1.71 g/t Au for 125,000 ounces at a 1.0 g/t Au lower grade cut-off.

Regionally, a total of six targets were tested in an area about 2.5 km north of Anthill. Several of these targets were drilled beneath historic holes that had been terminated in mildly anomalous mineralisation (>0.1 g/t Au) or had anomalous surface Au geochemistry. Tree Ant and Fire Ant both offer potential for significant mineralisation beneath a highly depleted weathering profile.

Blister Dam and New Mexico

The Blister Dam project is located 65 km northwest of Kalgoorlie-Boulder on granted Exploration and Prospecting licenses forming a semi-contiguous land package of over 20 km of strike. The tenure is located on and adjacent to the geologically and economically significant Zuleika and Kunnanalling shears which hosts some of the highest grade underground mines currently in production in the Eastern goldfields including the Kundana and Frog’s Leg mines.

Several targets occur on the well-known Zuleika Shear, where historic drill holes have intersected two distinct gold mineralisation styles; thin high grade quartz veins and shears zones hosting broad widths (40 metres) of disseminated low grade gold.

During 2017, 21 targets were identified by Horizon at Blister Dam. These were based on interpreted structures, geological contacts, historic drilling and geochemical signature. Nine of these prospects were drill tested to an average depth of 90 metres, and an Induced Polarisation (“IP”) survey was also completed to define several new targets. Subsequently in 2018, Horizon conducted follow up drilling at the more promising prospects including Atlantic, Argo and Seven Seas. First pass drilling was also conducted at three additional targets including the historical Chadwin workings, Loran and Atlantic South.

The bulk of the 2018 drilling was directed at the Atlantic prospect and followed up on historical drilling had identified broad sequences of low grade, shear hosted mineralisation. Within these low grade zones, there are a number of discrete higher grade shoots. The best of these was BDA153 (14 metres @ 2.90 g/t Au from 62 metres).

The second priority target at Blister Dam is Argo. Argo was discovered in 2017 whilst testing some nearby historic holes and soil anomalies. The best first pass results from 2017 included 4 m @ 5.03 g/t Au from 46 m (BDRC17050) and 10 m @ 1.02 g/t Au from 20 m (BDRC17009). Step back drilling on a 20 m x 40 m pattern discovered that strong mineralisation extends to 70 metres vertical depth. The mineralisation has now increased from 40 m strike to 140 m and potentially, remains open to the northwest. Anomalous, untested soils are noted immediately southeast of Argo. Further drilling, including diamond, is planned for Argo.

Field reconnaissance around the Argo area confirmed the prospectivity of several proposed 2017 targets. These included the historic Chadwin workings and Drabbco/Argosy workings 450 metres west of Argo. The Drabbco/Argosy workings were briefly tested in 2017 by BDRC17029 (1 m @ 2.15 g/t Au). This result was followed up by three additional holes in 2018, however no significant mineralisation was intercepted.

Chadwin is located 3 km southeast and down strike of the small Magdala open cut mine (~4,300 oz, 1993). At Chadwin, a line of small workings is sited on some thin, quartz veins dipping steeply to the southwest.

Loran sits about 400 metres north east of the Chadwin workings. It is a new discovery, but more importantly Loran exhibits more definitive geological control on the gold mineralisation than other areas studied at Blister Dam. The ore zone is visual, and sits on a sheared basalt/ultramafic contact.

Argo Project
Atlantic Project
Blister Dam Project Areas

Area 54 and YarmAny

Area 54 and Yarmany are located on the highly prospective Ida and Reptile Shear zones in close proximity to all required infrastructure, 65 km west of Kalgoorlie-Boulder in Western Australia.

The project area covers 320km2 of greenstone belt and 100% owned by the company, with Horizon holding a dominant position overlying the Ida and Reptile Shear zones.

Previous geochemical work completed (Delta Gold in 1992 to 2001 and others) identified numerous anomalies, many of which have yet to be followed up. The Iguana – Jamaica and Lizard gold mines along strike of the Company’s tenure were developed between 2000 and 2009 producing 68,000 ounces of gold grading 3 g/t and have current resources of 201,000 ounces. Horizon has commenced data compilation and target generation for drilling in early 2019 upon final granting of applications.