- Horseshoe Metals (HOR) confirms thick, shallow copper mineralisation at its Horseshoe Lights copper-gold project in Western Australia
- The results come from an 11-hole reverse circulation program completed in December at the North Dump, Motters and Main Zone
- Results from the drilling included two metres at 5.19 per cent copper from 252 metres, and HOR says it hit multiple wide zones of sulphide copper mineralisation
- Follow-up drilling will recommence shortly to complete the assessment of both the oxide and down-plunge zones
- Horseshoe Metals is down 3.85 per cent, trading at 2.5 cents at 1:00 pm AEDT
Horseshoe Metals (HOR) has confirmed thick, shallow copper mineralisation at its Horseshoe Lights copper-gold project in Western Australia.
The results came from an 11-hole reverse circulation program completed in December at the North Dump, Motters and Main Zone, which wrapped up both on time and on budget.
Horseshoe said the program achieved its primary objective of confirming and extending the project’s mineralisation and confidence levels in drilling.
Results from the program included 55 metres at 0.88 per cent copper from 22 metres including 14 metres at 1.3 per cent copper from 22 metres.
Further hits included 10 metres at 1.62 per cent copper from 252 metres, including two metres at 5.19 per cent copper from 252 metres.
“These results are highly encouraging and continue to clearly highlight the significant potential to expand the oxide and sulphide zones of mineralisation at our flagship Horseshoe Lights copper project,” Horseshoe Lights Director and CFO Kate Stoney said.
“It is important to note that multiple wide zones of sulphide copper mineralisation were intersected at Motters around 200 metres below surface and outside of the existing resource base.
“This is significant as this zone of mineralisation was historically overlooked, and regionally these copper deposits can exist down to 1000 metres, so we have effectively only tested around a third of the potential depth extent at Motters.”
The company told investors follow-up drilling would recommence shortly to complete the assessment of both the oxide and down-plunge zones.
Horseshoe Metals was down 3.85 per cent and trading at 2.5 cents at 1:00 pm AEDT.