Nickel Sulphides Confirmed At Blair North and Euston
Nickel Sulphides Confirmed At Blair North and Euston

Perth, Oct 4, 2022 AEST (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to announce new nickel drilling results and exploration update from the 100% owned Cannon, Golden Ridge and Yarmany project areas located near Kalgoorlie-Boulder in the heart of the Western Australian goldfields (Figure 1*).

- Final single metre assays received from two nickel prospects within the Greater Boorara - Cannon project area, 30km southeast of Kalgoorlie in Western Australia

- At the Euston prospect, 2 RC holes drilled to the southeast for 510m returned encouraging assays including:

o 2m @ 2.21% Ni, 765ppm Cu, 324 ppm Co and 0.76g/t Pt-Pd from 161m (CARC22008)

o 4m @ 0.64% Ni and 321ppm Cu from 180m (CARC22006)

- At the Blair North prospect, 900m northeast of Euston, 1 RC drillhole for 222m drilled to the southeast also confirmed the initial composite assay with an improved grade result of:

o 2m @ 2.68% Ni, 0.9% Cu, 440 ppm Co and 0.71g/t Pt-Pd from 176m (CARC22009)

- At Golden Ridge, three downhole electromagnetic (DHEM) surveys were completed within prospective ultramafics and sediments. The results were encouraging with three off hole conductors and a maximum conductance of 4000S observed

- Southern Geoscience has recommended several follow up drill holes to test all modelled conductor plates along a 1.2km magnetic high with drilling planned as part of the FY2023 exploration program

- At Yarmany, three wide spaced deep RC holes for 750m were drilled under the prospective nickel laterites highlighted by the air core drilling from 2021. A fertile komatiite unit was discovered, with further analysis and follow up drill planning underway

- In addition, first pass auger sampling comprising 972 shallow holes has been completed across Yarmany with all samples submitted to LabWest for multielement ultrafine analysis

- Further results are expected in the current December Quarter 2022

Commenting on the nickel exploration success, Horizon Managing Director Mr Jon Price said:

"It's very encouraging to see confirmation of nickel sulphide mineralisation at Blair North and Euston and we look forward to further drilling success in this highly prospective area. The results from the downhole EM survey and geoscientific analysis at Golden Ridge has also demonstrated the potential of the area to host significant new nickel sulphide mineralisation."

"The Company's grassroots exploration program is continuing to deliver quality results in gold, nickel and rare earths as we test high priority targets across the core Greater Boorara - Cannon, Lakewood, Yarmany and Binduli project areas with further results expected in the current December Quarter."

*To view tables and figures, please visit:

About Horizon Minerals Limited

Horizon Minerals Ltd  Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.



Jon Price
Managing Director
T: +61 8 9386 9534

Michael Vaughan
Media Relations - Fivemark Partners
T: +61 422 602 720

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