Interest continues to build in Horseshoe Metals ahead of the results in August at Horseshoe Lights in Western Australia, where the company recently kicked off a downhole electromagnetic survey (DHEM) targeting massive sulphide copper-gold mineralisation.
Increasing the prospectivity of the project area, it is located within the Narracoota Formation - which also hosts Sandfire Resources' (ASX: SFR) DeGrussa copper gold mine. The Horseshoe Lights Project is located 75 kilometres west-northwest of DeGrussa.
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
Horseshoe Metals picks up $1m
Adding to Horseshoe Metals cash position, last week the company was approved for early participation in the Mining Rehabilitation Fund, releasing its existing environmental bond and providing an additional $1,024,000 in available cash for the company.
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