Horseshoe Metals hits 10 per cent copper at Horseshoe Lights
THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has received results of recently-completed diamond drilling conducted at the company’s 100 per cent-owned Horseshoe Lights copper-gold project, located in the Peak Hill Mineral Field of Western Australia.
The drilling results have shown multiple intervals of copper mineralisation recorded in two diamond drill holes (HDD007 and HDD009).
Horseshoe Metals said drill holes HDD007 and HDD009 were successful in their intentions of testing for extensions of copper-gold mineralisation down dip of the Main Zone beneath the existing Horseshoe Lights open pit. The locations of the drill hole collars are shown in Figure 2.
Laboratory assays for 104 samples from the two diamond drill holes been received.
Best result recorded in HDD007 returned:
– 4.3 metres (from 264.7m to 269m) at 2.6 per cent copper, including 1 metre at 10 per cent copper and 0.1 grams per tonne gold.
Best result recorded in HDD009:
– 4.1m (308.9m to 313m) at 1.5 per cent copper, including 0.3m at 3.6 per cent copper and 0.2g/t gold.
“Numerous other intervals of chalcopyrite mineralisation intersected between 264 metres to 331 metres down hole depth in HDD007 confirm that a broad mineralised zone exists down dip of previous drilling and remains open at depth,” Horseshoe Metals said in its ASX announcement.
Drill Section HDD007. Source: Company announcement
The company explained the intersection in HDD009 was encountered about 80m south of the high grade intersection in HDD007, which it considers to confirm the continuity of the mineralised zone intersected in HDD007.
A second zone of copper mineralisation was identified from 457 metres depth down to the contact with the underlying Dolerite.
“Copper mineralisation identified in both HDD007 and HDD009 is consistent with the company’s geological modelling and confirms the potential for further down dip extensions to the west of the existing open pit as well as the southerly down plunge extension, which is yet to be tested,” Horseshoe Metals said.
The company is now incorporating these latest drilling results into its Mineral Resource estimation currently being finalised.
Horseshoe Metals is now planning to undertake an extensive deep Down Hole Electromagnetic (DHEM) survey utilising up to seven drill holes (including HDD007-HDD009) ahead of its next phase of drilling at Horseshoe Lights.
The DHEM survey will be searching for off-hole conductors which may represent massive sulphide copper/gold mineralisation.