Horseshoe Metals hits at Kumarina

THE DRILL SERGEANT: Horseshoe Metals has completed its first drilling program at the company’s 100 per cent-owned Kumarina project in Western Australia.

A total of 51 Reverse Circulation Percussion holes were drilled at the Rinaldi and North Show prospects for a total of 3,429 metres with holes ranging in depth from 26 to 149 metres.

According to Horseshoe the drilling at the Rinaldi prospect produced the best results.
At Rinaldi copper sulphide mineralisation was observed in 11 holes along a north-south oriented fault zone for a distance of about 300 metres.

Best results recorded at the Rinaldi Prospect include:

–    28 metres at 2.0 per cent copper from 56 metres, including 2 metres at 5.3 per cent copper from 58m, 2 metres at 3.5 per cent copper from 63 metres and 2 metres at 5.7 per cent copper from 68 metres;

–    5m at 3.6 per cent copper from 49m, including a peak intersection of 1m at 13.4 per cent copper from 50m and 7m at 1.1 per cent copper from 82m;

–    17m at 2.8 per cent copper from 35m including 5m at 5.0 per cent copper from 35m and 1m at 5.8 per cent copper from 48m;

–    14m at 2.7 per cent copper from 22m, including 5m at 4.6 per cent copper from 25m, including 1m at 8.4 per cent copper from 28m; and

–    27m at 1.3 per cent copper from 65m, including 2m at 3.3 per cent copper from 65m and 2m at 4.3 per cent copper from 85m.

“The copper sulphide mineralisation consists mainly of chalcopyrite and appears to be hosted by quartz veins within and just above a dolerite intrusion,” Horseshoe Metals said in ijts ASX announcement.

“The structure is interpreted to be associated with a north-south oriented fault zone.

‘Importantly, this copper mineralisation zone remains open along strike and down dip and will be tested by further RC drilling.

“The occurrence of zones of high grade copper mineralisation at the Rinaldi prospect is considered by the company to be very encouraging.”

The drilling carried out at the North Show prospect intersected shallow copper oxide mineralisation.
The mineralisation consists of secondary copper minerals producing lower grade but consistent copper results.

Horseshoe Metals said it intends to recommence drilling at Kumarina, which will focus on the Rinaldi and Kumarina copper mine prospect areas.

This program is planned to be completed before the driller’s Christmas break with laboratory analysis of the drilling samples to follow in early 2012.

As a consequence of this second drilling program at Kumarina, the company has re-scheduled drilling planned for the Horseshoe Lights project into 2012.