Horseshoe hits copper mineralisation in first Kumarina diamond hole

/in /by

THE DRILL SERGEANT: Horseshoe Metals has finished a third drilling program at the Rinaldi prospect situated on the company’s Kumarina copper project in Western Australia.

 

Rinaldi prospect drill hole location plan. Source: Company announcement

 

Seven diamond drill holes were completed last week for a total of 1,134 metres of drilling, with the holes ranging in depth from 141.8 to 171.8 metres.

Horseshoe has received the results from the first of these holes (KDD001), which intersected copper mineralised zones.

Best results so far have included:

–    7 metres at 3.6 per cent copper from 58 metres, including 1 metre at 10.1 per cent copper from 60 metres;

–    2m at 1.4 per cent copper from 77m; and

–    4m at 1.4 per cent copper from 96m, including 1m at 4.1 per cent copper from 99m.

The results of the remaining six diamond drill holes from the Kumarina project have yet to be received.

“Initial observations from KDD001 confirm that the copper mineralisation is quartz vein hosted mainly within an interpreted altered dolerite host,” Horseshoe Metals said in its ASX announcement.

“The copper mineralisation appears to be structurally controlled with the main concentration of quartz veins occurring as a stockwork in the hanging wall zone of a westerly dipping dolerite dyke.

“The dyke has intruded through thinly bedded siltstone and shale sediments which dip gently to the north.

“The mineralised quartz veins continue throughout the dyke to a lesser degree with an interpreted sub-vertical orientation.

“Another stockwork of quartz veins occurs at the footwall of the dyke which is less mineralised.”

Horseshoe Metals said the diamond drill rig has now relocated from Kumarina to the Horseshoe Lights project where the company expects to recommence drilling before the end of April 2012.

The diamond drilling will initially test the DDIP (Dipole-Dipole Induced Polarisation) anomaly Horseshoe identified south east of the existing open pit last year.

Horseshoe Metals’ 100 per cent-owned Kumarina copper project is located 95 kilometres north of Sandfire Resources’ DeGrussa copper-gold mine, 90km north of Ventnor Resources’ Thaduna copper project and 35km southwest of Montezuma Mining Company’s Butcherbird copper project, in the Gascoyne region of Western Australia.