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Horseshoe Metals To Undertake Capital Raising, In Trading Halt

Horseshoe Metals (ASX:HOR) will announce details of a capital raising and has requested a trading halt until Friday 14th June or when the announcement is released.

In June, Horseshoe delivered a 40% increase in the high grade copper resource for the wholly-owned Horseshoe Lights Project in Western Australia, which covers 80 square kilometres.

The upgrade is the result of a drilling programs in 2012 and 2013, and includes results such as the peak intercept of 10% copper last month.

The project now hosts a resource of 12.85 million tonnes at 1.00% copper, and 0.1g/t gold for 128,600 tonnes of contained copper and 36,000 gold ounces, using a 0.5% copper cut-off grade, which was conducted by CSA Global Pty Ltd.

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