Horizon Gold (ASX:HRN) has announced significant high-grade gold intercepts from its Kingfisher drilling program, including 4m at 11.35 g/t Au, confirming substantial down-plunge extensions and bolstering resource growth potential at its Gum Creek project.
Drill hole KFDD003 intersected 4m at 11.35 g/t Au from 431m, including 1m at 42.2 g/t Au from 432m.
Other significant intercepts from KFDD003 were 16m at 1.17 g/t Au from 431m and 3m at 2.79 g/t Au from 350m.
Drill hole KFDD007 also returned 16m at 1.17 g/t Au from 431m, with an included 4m at 2.64 g/t Au from 438m.
These results suggest significant down-plunge extensions beyond the current Kingfisher resource model and point to the potential for additional high-grade shoots.
The company confirmed that the Kingfisher resource remains open to depth and northwards, and has plans for additional deep infill and extensional drilling, with Programs of Work already approved.
Gum Creek Resource Expansion
The Kingfisher deposit holds a substantial mineral resource estimate.
Its open pit component accounts for 1.22 Mt at 2.01 g/t Au for 78,900 ounces, while the underground resource totals 1.04 Mt at 3.38 g/t Au for 113,500 ounces.
This contributes to the broader Gum Creek Gold Project's total mineral resource estimate of 37.97 Mt at 1.89 g/t Au for 2.30 Moz.
The ongoing Feasibility Study for Gum Creek is on track for completion in the first half of 2026.
Earlier reverse circulation (RC) drilling at other Gum Creek prospects, specifically Goldfinch and Robin, also yielded impressive shallow gold intercepts.
These results further bolster the overall resource growth potential of the project.
Feasibility and Development Progress
The Feasibility Study for the Gum Creek Gold Project is progressing as planned, with completion targeted for the first half of 2026.
This study is crucial for the potential development of a standalone mining operation.
Horizon Gold's previous quarterly activities report, released in January 2026, detailed significant exploration and evaluation expenditure, along with an updated mineral resource estimate, underpinning the ongoing Feasibility Study.
In a move to drive the project forward, Horizon Gold appointed Scott Williamson as Chief Executive Officer and Managing Director, effective 2 February 2026.
Financial and Funding Position
As of December 2025, Horizon Gold reported a cash balance of A$4.41 million.
At that time, its funding runway was approximately 1.17 quarters, based on its operational outflows.
As a pre-production exploration and development company, Horizon Gold relies on successful capital raises and access to further equity or debt funding.
This is essential for ongoing exploration, the Feasibility Study, and future development.
The company's Annual Report to shareholders, dated September 2025, explicitly noted a material uncertainty regarding its ability to continue as a going concern without securing additional funding.
Outlook for Gum Creek Development
Horizon Gold's latest drilling results provide compelling evidence of high-grade extensions at Kingfisher, reinforcing the potential for significant resource growth at Gum Creek.
While exploration success is positive, the company's ability to fund future development and the outcomes of the ongoing Feasibility Study remain key factors for realizing project value.
