Horseshoe expands copper resource potential ahead of drilling in WA

Horseshoe Metals is expanding the existing resource potential of its Horseshoe Lights project in Western Australia.

Further results from a recently completed review of historical reverse circulation and diamond drilling at the Main Zone using a 0.3% cut-off has uncovered additional shallow, wide zones of copper mineralisation.

Notable results are 47m grading 8.35% copper from a down-hole depth of 37m (RC-846 – Drilled 1993), 98m at 2.54% copper from 58m (RC-368 – Drilled 1987) and two zones of 32m at 3.11% copper from 43m and 35m at 2.8% copper from 160m in (RC1068 – Drilled 2012).

Horseshoe Metals (ASX:HOR) noted that the review had identified a significant increase in the width of the Main Zone at Horseshoe Lights when a 0.3% copper cut-off, which is considered to be more appropriate given current copper prices, is applied.

Mineralisation at the Main Zone also remains open at depth, along strike and down plunge to the north.

A review of the North Dump historical drilling is now underway and will be reported in November.

From Kate Stoney, Director:

“We continue to redefine the potential scale and grade of the Horseshoe Lights mineralised system with more high-grade zones of broad copper mineralisation confirmed,” director Kate Stoney said.

“These latest results highlight broad zones of copper mineralisation at Main Zone which are in addition to the significant widths recently confirmed at Motters.

“Taking into account the current dynamics of the copper market, Horseshoe Lights continues to shape as a tremendous copper asset. The lower cut-off grade paints a clearer representation of the potential scale and grade of the project by factoring in a significant amount of previously unaccounted for copper mineralisation.”

Stoney added that the company is now moving to quickly recommence drilling at the Main Zone to follow-up on the potential extensions to the ore body.

Upcoming plans

The next phase of RC drilling will focus on the sparsely drilled mineralisation north along strike from the completed drilling immediately west of the late cross cutting dolerite dyke which is interpreted to terminate just to east of the Main Zone.

Targets that are down dip beneath the existing open pit and west of the dolerite will also be tested.

Planning is underway to test the northern strike extension of the Main Zone which includes an interpreted northern plunge to the mineralisation.

Other work on the cards includes RC and/or auger drilling of surface materials in stockpiles and the northern waste dump, additional metallurgical test work on oxide copper stockpiles and targets.

Horseshoe also plans to carry out gravity recovery test work on copper flotation and CIP tailings as well as continue its ongoing review of scoping study results to incorporate potential oxide heap leach SX-EW treatment.

This article was developed in collaboration with Horseshoe Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.