Horseshoe Metals extends Kumarina mineralisation

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THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has completed its latest phase of Reverse Circulation percussion drilling at the company’s 100 per cent-owned Kumarina copper project in Western Australia.

The latest round of drilling at Kumarina was completed on 2 December 2012 and focused on in-fill and step-out holes at the Rinaldi Prospect with 27 holes drilled.

 

Rinaldi drill hole location plan. Source: Company announcement

 

KRC120 was drilled as an in-fill hole to test for copper mineralisation near the historic Rinaldi shaft.

The hole intersected a 5three metre wide void at 22m to 25m down hole depth from the historical mining with copper mineralisation encountered either side of the void including:

–     1 metre at 5.9 per cent copper (21m -22m) and 6 metres at 2.5 per cent copper (25m – 31m), including 3 metres at 4.8 per cent copper.

Further south KRC118 was drilled through the fault zone intersecting a 23 metre zone of intermittent copper mineralisation.

The best interval in this hole was:

–    5m at 1.9 per cent copper (30m – 35m), including 2m at 4.1 per cent copper and 6m at 3.5 per cent copper (42m – 48m), including 2m at 9.1 per cent copper.

Approximately 120 metres to the south of the Rinaldi shaft, hole KRC051 – which was drilled in 2011 – was extended from 71m to 137m depth, testing for a southerly extension of copper mineralisation.

The KRC051 extension intersected some low grade copper mineralisation, including:

–    1m at 0.5 per cent copper (113m – 114m).

A further hole, KRC116 was drilled below KRC051, intersecting:

–    4m at 2.2 per cent copper (106m – 10m), including 1m at 4 per cent copper.

“The intersecting of copper mineralisation in KRC116 is significant in demonstrating that copper mineralisation continues to the south within the fault zone,” Horseshoe Metals said in its ASX announcement.

“The ground below KRC116 remains untested for further copper mineralisation.”

The company indicated it had recorded intervals of copper in three of the seven remaining holes drilled in the immediate Rinaldi prospect area.

The samples from the remaining sixteen holes (KRC126 – KRC141) are anticipated to be available for release shortly.

Horseshoe Metals declared a JORC compliant mineral resource estimation of the Rinaldi prospect will be completed once all laboratory analysis work is completed.