Horseshoe Metals confirms high-grade copper hits

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THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has received assay results, which have confirmed copper intersections the company had previously announced from portable X-Ray Fluorescence (XRF) analyser readings from an ongoing resource drilling program at the company’s 100 per cent-owned Horseshoe Lights copper/gold project in the Gascoyne region of Western Australia.

Laboratory assay results from three resource drill holes at the North West Stringer Zone have been received, which the company said exceed the XRF results.

Horshshoe has completed thirteen Reverse Circulation (RC) holes (RC1103-RC1106 and RC1132-RC1140) in the North West Stringer Zone to date.

Assays from three holes (RC1138 – RC1140) demonstrated the intersection of broad zones of copper mineralisation, including:

RC1140 
27 metres (36-63m) at 2.4 per cent copper, including 9m (53-62m) at 3.5 per cent copper, and 15m (84- 99m) at 0.7 per cent copper (observed as malachite);

RC1138 
31m (from 81–112m) at 2.1 per cent copper, including 9m (86-95m) at 2.9 per cent copper and 7m (102-109m) at 2.8 per cent copper (observed as chalcocite in quartz veins); and

RC1139 
11m (81-92m) at 1 per cent copper and 16m (103-119m) at 1 per cent copper (observed as malachite).

“These latest results continue to confirm the benefits of the company’s strategy of in-fill drilling to add copper tonnes and grade to the mineral resource where historical holes have previously been relied upon to create parts of the current resource block model,” Horseshoe Metals said in its ASX announcement.

“The current drilling program at Horseshoe Lights aims to add copper tonnes and grade to the existing mineral resource block model with a particular focus on the shallow oxide and transitional copper zone within and adjacent to the optimised pit shell from the 2014 Scoping Study, where drill hole density is low or largely based upon historical drill holes.”

Horseshoe Metals said the results of this drilling program will be incorporated in the company’s Oxide Copper Project Scoping Study, which is evaluating the viability of a low capex oxide copper treatment process.

Website: www.horseshoemetals.com.au