Horizon Gold has reported a series of high-grade gold intercepts from drilling conducted outside the boundaries of its recently completed definitive feasibility study (DFS) at the Gum Creek project in Western Australia.
The company highlighted a standout result of 23 meters at 5.26 grams per tonne (g/t) gold, which included a higher-grade core of 15 meters at 7.65 g/t.
8 billion based on the extraction of 880,000 ounces of gold.
These intersections were located in the Mid-West/Murchison region, adjacent to the area defined in the DFS mine plan.
The discovery is significant because it suggests the mineralization extends beyond the current mine design.
The DFS, released earlier this year, projected a potential cash flow of $1.8 billion based on the extraction of 880,000 ounces of gold.
The new high-grade hits, which exceed the average grades assumed in the feasibility study, could lead to an upward revision of the resource estimate and potentially extend the mine's operational life.