Horizon Gold Hits 44m at 5.08g/t at Snook, Points to Bigger Open Pit Potential
Key Takeaways
- Snook returned 44m @ 5.08g/t Au from 145m, including 11m @ 16.30g/t Au, the best gram x metre intercept at the deposit to date.
- Mineralisation is confirmed to about 230m depth, yet the current Snook resource of 0.92Mt @ 1.82g/t Au for 54,000oz does not include any of the new results.
- Cobia and Alma May, which have no resource today, are set for maiden resource estimates after 34 infill RC holes between them.
- The 22 July 2026 DFS outlines a maiden Ore Reserve of 18.2Mt @ 1.24g/t Au for 728koz and 88koz a year of production at an AISC of A$2,995/oz.
- Funding remains the key hurdle, with A$350m of initial capital required and no certainty the company can raise it.
Snook returns 44m @ 5.08g/t Au in deepest drilling to date
Horizon Gold Limited (ASX: HRN) has received final assays from Reverse Circulation (RC) drilling at Snook, Cobia and Alma May, part of its 100% owned Gum Creek Gold Project in the Mid-West Region of Western Australia. The headline Snook drilling results include 44m @ 5.08g/t Au from 145m including 11m @ 16.30g/t Au from 174m (SKRC033), which the company describes as the best gram x metre (GxM) intercept at Snook to date.
The program covered 25 RC holes for 5,151m at Snook, 20 holes for 2,043m at Cobia and 14 holes for 964m at Alma May. Management says the Snook results point to a larger open pit and potential for underground mining, following the Definitive Feasibility Study (DFS) announced on 22 July 2026.
Scott Williamson, Managing Director
“These outstanding RC results from Snook point to a larger open pit and potential for underground mining. Infill drilling at Alma May and Cobia is on track to deliver maiden resources over the coming months…”
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Snook results confirm high-grade mineralisation to ~230m depth
The Snook drilling targeted an extension of the current gold resource down plunge to the south, beneath the Snook North and Snook South pits. Here is how the standout intercepts line up.
Standout intercepts
| Hole | From (m) | Width (m) | Grade (g/t Au) | High-grade included |
|---|---|---|---|---|
| SKRC033 | 145 | 44 | 5.08 | 11m @ 16.30g/t from 174m |
| SKRC038 | 88 | 14 | 5.18 | 8m @ 8.81g/t from 90m |
| SKRC019 | 135 | 12 | 5.72 | 5m @ 10.93g/t from 139m |
| SKRC033 | 204 | 14 | 4.12 | 3m @ 15.33g/t from 205m |
| SKRC035 | 158 | 15 | 3.35 | 3m @ 13.89g/t from 167m |
| SKRC031 | 225 | 27 | 1.51 | 5m @ 6.35g/t from 229m |
Note that SKRC038’s 14m intercept was reported from 2m composite samples. Grades like these over wide intervals are what matter to you here, because width multiplied by grade is what drives the potential size of a deposit.
What the drilling confirms
The program confirmed the previously interpreted steep south plunge of high-grade mineralisation beneath both the Snook North and Snook South open pits. It included the deepest drilling at Snook to date, with mineralisation now confirmed to ~230m below surface.
Snook currently hosts a Mineral Resource Estimate (MRE) of 0.92Mt @ 1.82g/t Au for 54,000oz, defined over a 550m strike. The new results have not yet been used to update that figure, so they represent potential upside rather than a revised resource. The company says the results confirm the potential for significant resource expansion at depth, with further drilling planned prior to an MRE update over the coming months.
Cobia and Alma May infill drilling sets up maiden resources
Neither prospect has a current MRE. The infill drilling filled gaps in shallow historic drilling, with the aim of producing maiden gold resources.
Cobia
Cobia sits 26km north of the historic Gidgee mill. Drilling confirmed continuity of supergene mineralisation along strike to the south of the open pit, and confirmed similarity of primary mineralisation with Snook, just 1km to the south. Key intercepts:
- 21m @ 2.08g/t Au from 76m including 15m @ 2.68g/t Au from 79m (CORC045)
- 10m @ 1.65g/t Au from 47m including 4m @ 3.40g/t Au from 53m (CORC047)
- 3m @ 5.16g/t Au from 43m (CORC050)
Alma May
Alma May lies 26.5km north of the historic Gidgee Mill. Drilling confirmed steeply west dipping gold mineralisation, highlighting potential for a mineral resource along strike to the north of the open pit. Key intercepts:
- 5m @ 2.79g/t Au from 26m including 1m @ 12.50g/t Au from 26m (AMRC013)
- 5m @ 2.62g/t Au from 21m including 2m @ 5.22g/t Au from 22m (AMRC009)
- 13m @ 0.91g/t Au from 32m including 9m @ 1.13g/t Au from 36m (AMRC012)
A maiden MRE will be completed at both prospects before any further drilling. At Alma May, pit optimisation work will also be completed first.
What is infill drilling and a maiden resource?
Infill drilling places new holes between existing ones to close gaps in the data and lift geological confidence. A maiden resource is the first formal estimate for a deposit under the JORC Code, the Australasian reporting standard for mineral resources.
Gum Creek already holds an MRE of 37.97Mt @ 1.89g/t Au for 2.30 million ounces, so new resources would add to that base. In practice:
- Infill drilling tightens the data between existing holes.
- A maiden MRE converts that data into a formal estimate.
- A formal estimate gives you a clearer view of potential scale.
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Growth beyond the DFS and next steps
The drilling follows the Open Pit DFS announced on 22 July 2026. The figures below come from the DFS, not the new drilling, and the production figures are anticipated outcomes.
| Metric | DFS figure (22 July 2026) |
|---|---|
| Maiden Ore Reserve | 18.2Mt @ 1.24g/t Au for 728koz |
| Processing facility | 2.4Mtpa |
| Average production (initial 10-year mine life) | 88koz per annum |
| Peak production (year two) | 114koz per annum |
| Total gold recovered over Life of Mine | 880koz |
| AISC | A$2,995/oz |
Underground mining opportunities and sulphide ore deposits currently sit outside the DFS scope. That is where management sees room to improve project economics.
Planned next steps include:
- Follow-up RC and diamond drilling at all 3 prospects
- An MRE update for Snook
- Maiden MREs for Cobia and Alma May
- Cyanide leach metallurgical test work on Cobia and Alma May, with samples currently being collected
The DFS outlines an estimated A$350m of initial capital, and the company notes there is no certainty it will be able to raise that funding when needed.
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