Horseshoe Metals releases Kumarina maiden copper Resource
THE DRILL SERGEANT: Horseshoe Metals (ASX: HOR) has completed a maiden JORC Code-compliant Mineral Resource estimation at the company’s Kumarina copper project, located in the Peak Hill Mineral Field of Western Australia.
At a cut-off grade of 0.5 per cent copper, the Mineral Resource estimate is 835,000 tonnes at 1.3 per cent copper for 10,600 tonnes of contained copper.
The Mineral Resource estimation was completed on the Rinaldi prospect where the company has identified mineralisation hosted within a north-south oriented sub-vertical fault zone.
Horseshoe Metals explained this is one of several such faults that were delineated within the company’s tenement by a 2011 aeromagnetic survey.
The deposit is very shallow with the copper mineralisation within the fault zone remaining open along strike to the north and south of the deposit as well as at depth.
“The company is pleased with the progress of exploration at the Rinaldi prospect, which has culminated in this maiden Mineral Resource estimate,” Horseshoe Metals said in its ASX announcement.
Horseshoe Metals has indicated additional drilling will be undertaken at the Rinaldi prospect to test for extensions to the mineralisation within the north-south fault zone.
The company has already intersected copper mineralisation within the interpreted fault zone at depth in a dolerite sill.
The upcoming drilling, to be sarried out this year, is taking place to identify copper mineralisation within the dolerite sill/fault zone contact.
The company said its main focus for the immediate future is to update the Mineral Resource estimate at Horseshoe Lights, having completed over 10,000 metres of drilling at the project in 2012.
Projects location plan. Source: Company announcement
“Much of the Quality Assurance/Quality Control work on the historical parts of the database has now been completed,” Horseshoe Metals said.
“Release of the updated Mineral Resource estimate is expected towards the end of March 2013.
“A geophysical study of the mine and surrounding areas is being finalised to identify targets for the next stage of drilling.”
Drilling at the Horseshoe Lights project for the 2013 field season will focus on:
– Deep, high grade copper/gold zones – potentially located down dip and down plunge of the Main Zone – of sufficient grade to potentially support underground mining; and
– Exploration targets outside of the immediate pit area which have not been adequately tested by previous exploration efforts.