Horizon Minerals Ltd intercepts ‘encouraging’ palladium and platinum mineralization at Lakewood

“Intercepting platinum and nickel-cobalt group metals in this highly underexplored area on the outskirts of Kalgoorlie-Boulder highlights the untapped potential of the region,” says MD Jon Price.

Horizon Minerals Ltd (ASX:HRZ) is encouraged by the results of first pass reconnaissance drilling at the Lakewood project near Kalgoorlie-Boulder, Western Australia, as it tests multi-product potential with palladium and platinum mineralization particularly pleasant.

The company collected data on four priority drill targets with 59 drill holes for 3,002 meters of drilling. The results revealed shallow and highly anomalous platinum-palladium-nickel-cobalt mineralization within the weathered profile of the rock.

Composite results received to date include:

LKAC21025

  • 8 meters at 206 parts per billion (ppb) platinum and 35 ppb palladium from surface (combined platinum group metal (PGM) (2E) grade of 0.24 g/t);
  • 4 meters at 67 ppb platinum and 39 ppb palladium from 8 meters (PGM 2E 0.11 g/t); and
  • 4 meters at 124 ppb platinum and 24 ppb palladium from 24 meters (PGM 2E 0.14 g/t).

LKAC21014

  • 4 meters at 133 ppb platinum and 37 ppb palladium from 20 meters (PGM 2E 0.17 g/t); and
  • 4 meters at 90 ppb platinum, 34 ppb palladium and 503 ppm nickel from 24 meters.

LKAC21023

  • 8 meters at 131 ppb platinum, 14 ppb palladium (PGM 2E 0.14 g/t), 726 ppm nickel and 119 ppm cobalt from 20 meters;
  • 4 meters at 102 ppm cadmium from 64 meters; and
  • 4 meters at 921 ppm copper from 68 meters (to the end of the hole).

LKAC21020

  • 4 meters at 33 ppb platinum and 77 ppb palladium (PGM 2E 0.11 g/t) and 417 ppm nickel from 32 meters.

Horizon believes these results demonstrate potential for “significant” primary mineralization at depth and along strike within the project area, with multiple targets yet to be tested.

“Highlights untapped potential”

“It’s great to see these encouraging early results at Lakewood following the completion of an extensive target generation study,” said Horizon Metals Managing Director Jon Price.

“Applying the latest exploration technologies and working with expert consultants and academics, our exploration team has done an excellent job of successfully identifying and testing our asset base for new precious and critical energy metals. .

“Intercepting platinum and nickel-cobalt group metals in this highly underexplored area on the outskirts of Kalgoorlie-Boulder highlights the untapped potential of the region.

“We now look forward to further assay results and the next round of drilling to further test this exciting prospect and other new regional targets.”

One meter split samples have now been taken and submitted to the laboratory with results expected in the current quarter.

Horizon intends to follow these shallow air core results with reverse circulation (RC) drilling along strike and below the anomalous mineralized zones, which are expected to commence once gold and of nickel at the nearby Cannon underground mine will be completed.

About Horizon Minerals

Horizon Minerals is an emerging mid-tier gold producer with an extensive portfolio of highly prospective gold projects in the heart of Western Australia’s world-class goldfields.

The company has an extensive resource base of 1.15 million ounces of gold covering a total area of ​​1,100 square kilometers, growth options in multiple commodities and a clear strategy for development and of production.

Its asset base contains 562,000 ounces of estimated gold mineral resources within easy trucking distance of the 507,000 ounce Boorara deposit, which has approvals in place for the development of an open pit mine and the construction of a new processing facility.