Horseshoe Metals intersects copper zone

THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has intersected copper mineralisation while conducting its latest phase of drilling at the company’s 100 per cent-owned Horseshoe Lights copper-gold project in the Peak Hill Mineral Field of Western Australia.

The Horseshoe Lights project is located, 75 kilometres west-northwest of Sandfire Resources’ (ASX: SFR) DeGrussa copper/gold project.

Horseshoe Metals has taken receipt of the full laboratory analysis results from the recently-completed eight hole, 1,818 metre Reverse Circulation drilling program at the Horseshoe Lights project.

 

Drill Section through RC358 (+/- 100m) looking northwest
overlain with DDIP Line 6 Inverted Chargeability image. Source: Company
announcement

 

Latest results include Drill hole RC358, which was originally drilled in 1987 to a down hole depth of 120m.

Horseshoe Metals extended the drill hole to test a chargeability anomaly identified from a ground based Dipole-Dipole Induced Polarisation (DDIP) survey it completed in 2011.

A zone of low-grade copper mineralisation on the inner DDIP contour was intersected between 218-224m and included 1 metre (218-219m) at 0.05 per cent copper and 1m (223–224m) at 0.22 per cent copper.

The company considers the information it has gleaned from this drill hole, combined with other geological information provides evidence the DDIP anomaly sits at depth in the Narracoota Formation, within the nose of an interpreted fold.

“The copper mineralisation in hole RC358 is encouraging as it suggests there is potential for further copper mineralisation at depth, and additional drilling is warranted to determine the source of the DDIP anomaly,” Horseshoe Metals said in its ASX announcement.

The latest results come after the company released results from the first two holes of the drill program in October 2013, which reported high-grade copper intersections including:

32m at 1.8 per cent copper, including 12m at 2.8 per cent copper and 0.2 grams per tonne gold, which included a peak interval of 2m (199-201m) at 5.5 per cent copper and 0.3g/t gold.

“The intersection of copper mineralisation in RC358 is encouraging as it suggests there is potential for further copper mineralisation at depth,” Horseshoe Metals said.

“RC 358 was not drilled deep enough to fully test the DDIP anomaly, therefore additional drilling is considered to be warranted to determine the source of the DDIP anomaly.”

Email:
info@horseshoemetals.com.au

Website:
www.horseshoemetals.com.au