Entering text into the input field will update the search result below

Horseshoe Metals Targets Massive Sulphides At Horseshoe Lights

Jul. 19, 2013 2:09 AM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Short Only

Seeking Alpha Analyst Since 2009

Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We are one of the fastest growing financial media portals in the world. The group also operates hugely successful “investor forums” where three or four companies present to an audience of high net sophisticated investors, fund managers, hedge funds, private client brokers and analysts. Ian Mclelland founded Proactiveinvestors in 2006 as a way to channel his own views on companies small and mid-cap public companies. What started as a hobby quickly turned into a full time job as the website's readership exploded. One2One forums were added later in 2006, and within two years the company had expanded its operations into Canada and Australia. In 2009 the company expanded into Germany and finally into the US in 2010. Proactiveinvestors is now one of the fastest growing global financial media organizations in the world receiving more than one million visitors per month, with investor forums held across the globe on a regular basis.

Horseshoe Metals (ASX: HOR) has started a down hole electromagnetic survey (DHEM) at its wholly-owned Horseshoe Lights Project in Western Australia to test for potential massive sulphide copper-gold mineralisation.

Five holes are planned to be used for the DHEM survey to test for off-hole conductors that may represent massive sulphide copper/gold mineralisation, with depths of up to 706 metres to be tested, targeting the Narracoota Formation that hosts both Horseshoe Lights and Sandfire Resources' (ASX: SFR) DeGrussa copper gold mine.

The Horseshoe Lights Project is located 75 kilometres west-northwest of DeGrussa.

Adding to the prospectivity of the area, the Narracoota Formation is largely untested beneath the overlying Ravelstone Formation.

An interpretation of the DHEM survey results is expected to be available in August.

Horseshoe Lights

The company had in June upgraded the high grade copper resource at Horseshoe Lights by 40% to 12.85 million tonnes at 1% 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.

In addition, the Resource for surface stockpiles and tailings has been estimated at 1.7 million tonnes at 0.52% copper for a further 8,800 tonnes of copper, increasing the overall inventory to 148,000 tonnes.

Highlighting the prospectivity of Horseshoe Lights, historical production from the Horseshoe Lights copper-gold mine was 313,000 gold ounces and 54,800 tonnes of copper.


Although its only early days for HOR in the hunt for massive sulphide copper-gold mineralisation at Horseshoe Lights, the key is that the project is within the Narracoota Formation - which hosts Sandfire Resources' DeGrussa copper gold mine.

The highly anticipated results are expected to be available in August, and if there are any indications of massive sulphides then there is the potential for a positive re-rating in the stock from the current $0.05 level.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.