Horseshoe Metals hits more high-grade copper at Horseshoe Lights

THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has released XRF readings of copper intersections from on-going resource drilling at the company’s 100 per cent-owned Horseshoe Lights copper/gold project in the Gascoyne region of Western Australia.

The company said the latest results are preliminary in nature, having been taken from three resource drill holes at the North West Stringer Zone and are based on field readings taken at the drill rig utilising a field portable X-Ray Fluorescence (XRF) analyser.

The latest release focused on preliminary results from three holes (RC1138-RC1140) with each hole intersecting broad zonesof copper mineralisation, including:

RC1138

32 metres (from 80–112m) at 2 per cent copper, including 9m (86-95m) at 3 per cent copper (observed as chalcocite in quartz veins);

RC1140

27m (36-63m) at 2 per cent copper, including 9m (53-62m) at 3.2 per cent copper, and 18m (81-99m) at 0.4 per cent copper (observed as malachite); and

RC1139

17m (76-93m) at 0.6 per cent copper and 17m (103-120m) at 0.7 per cent copper (observed as malachite).

“The company’s experience is that the XRF generally underestimates the copper content of each sample when compared to the final analytical laboratory assay,” Horseshoe Metals declared in its ASX announcement.

“The company therefore considers that these intersections are likely to be of a higher copper grade when the final assay results are received.”

Those samples are currently at the analytical laboratory with final assay results expected to be available by the end of August/early September.

“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.

Website: www.horseshoemetals.com.au