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Horseshoe Metals Impresses With 9.1% Copper At Rinaldi, JORC Pending

Horseshoe Metals (ASX: HOR) continues to deliver very impressive results from the Rinaldi Prospect, which is part of the highly prospective Kumarina project in Western Australia.

Rinaldi is also set for a JORC Resource, which will be completed once all laboratory analysis work has been finalised.

The latest highlights from the first 11 holes of a 27 reverse circulation program for 2700 metres include:

- 6 metres at 3.5% copper from 42 metres, including 2 metres at 9.1% copper;
- 6 metres at 2.5% copper from 25 metres, including 3 metres at 4.8% copper;
- 5 metres at 1.9% copper from 30 metres, including 2 metres at 4.1% copper; and
- 4 metres at 2.2% copper from 106 metres; including 1 metre at 4.0% copper.

Importantly the copper mineralisation has been confirmed to continue to the south within the fault zone at the prospect.

The drilling program focused on in-fill and step-out holes, with all samples having being lodged with the final 16 holes expected shortly.

Apart from drilling, other exploration includes a soil geochemical survey over a large part of the project area has been completed with samples collected on a 40m x 800m grid, with selective infill sampling on a 40m x 200m grid.

Horseshoe Metals is looking to generate new exploration targets away from the areas of historical copper workings. The soil samples have been processed through a laboratory and data validation and analysis is to be completed this month.

A Multi-Spectral Survey has also been completed, which will be used in conjunction with the soil geochemical survey, regional geological mapping and the airborne aeromagnetic survey to generate targets for further field work and drilling in 2013.

The company had $2.6 million in cash at the end of September 2012.

Horseshoe Lights: JORC in the spotlight

Across at the Horseshoe Lights project, a gravity survey has been expanded following promising early results, with 2,500 readings now completed - with the survey having mapped known, as well as previously unknown, geological structures.

JORC Resource work is to start in early 2013.

Outlook

Horseshoe Metals does not have any additional drilling planned at Kumarina until the June quarter of 2013 due to seasonal conditions, but the shorter term focus is very busy with the focus in the coming weeks will be on:

- Geological review of the results of drilling;
- Completion of a JORC compliant mineral resource estimation for the Rinaldi prospect; and
- Analysis of multi-spectral survey imagery, a soil geochemical survey, regional geological mapping and the airborne aeromagnetic survey to generate regional targets for further field work and drilling in 2013.

Over at Horseshoe Lights, December 2012 at Horseshoe Lights has been postponed due to weather and in order to allow time for the full evaluation of the gravity survey and other geophysical information.

The focus in the coming weeks will be on:

- Completing the down-hole survey of 2012 reverse circulation drill holes;
- Database QA/QC;
- Commencing a JORC compliant mineral resource estimation for the Horseshoe Lights deposit in early 2013;
- Analysing all the geophysical data to refine targets for drilling in 2013; and
- Planning for drilling in early 2013.

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