Horseshoe Metals hits high-grade copper at Horseshoe Lights

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THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) attracted some market interest with the release of high-grade, shallow copper assay results from ongoing resource and exploration drilling being carried out at the company’s 100 per cent-owned Horseshoe Lights copper/gold project in the Gascoyne region of Western Australia.

The company’s latest assay results come from resource drill holes located in the North West Stringer Zone, where ten Reverse Circulation (RC) holes (RC1103-RC1106 and RC1132-RC1137) have been completed.

Horseshoe has received assay results from five holes (RC1132-RC1136), with each hole intersecting zones of copper mineralisation, including:

RC1135
27 metres (8–35m) at 3.4 per cent copper, including 3m (23-26m) at 17.7 per cent copper and 1m (29-30m) at 7.7 per cent copper, and 17m (54-71m) at 1.1 per cent copper, including 2m (58-60m) at 2.3 per cent copper and 1m (65-66m) at 3.2 per cent copper;

RC1134
30m (36-66m) at 1.0 per cent copper, including 3m (42-45m) at 2.2 per cent copper, 26m (73-99m) at 0.8 per cent copper and 10m (145-155m) at 0.9 per cent copper;

RC1136
14m (101-115m) at 1.1 per cent copper, including 1m (103-104m) at 2.4 per cent copper and 1m (110-111m) at 3.7 per cent copper, and 9m (133-142m) at 1.1 per cent copper;

RC1133
5m (45-50m) at 1.2 per cent copper and 11m (58-69m) at 1.3 per cent copper; and

RC1132
8m (103-111m) at 1.3 per cent copper.

Horseshoe Metals said the latest results provide greater certainty to the robustness of the existing mineral resource.

The company highlighted that the drilling had again intersected copper mineralisation outside the existing resource model at the North West Stringer Zone, which it considers to demonstrate further resource expansion potential for when it re-estimates the mineral resource later this year to include the results from this drilling program.

“The results from these drill holes in the North West Stringer Zone are considered very positive as they appear to confirm and expand the extent of copper mineralisation when compared with earlier drilling results,” Horseshoe Metals explained in its ASX announcement.

“RC1135 was drilled to test the upper portion of an unsurveyed historical drill hole (RC557B) and was collared approximately 10 metres from RC557B’s recorded location.

“A comparison of the significant mineralised intervals…shows that RC1135 has wider zones of copper mineralisation with higher grades than recorded in RC557B, which will clearly upgrade the existing copper mineral resource blocks in this part of the deposit.”

Website: www.horseshoemetals.com.au