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Horseshoe Metals logs impressive high grade copper intersections at Kumarina

Horseshoe Metals (ASX: HOR) in just maiden drilling at the Kumarina Project has intersected some very impressive copper mineralisation.

The program included 12 reverse circulation percussion holes at the Rinaldi Prospect, where the company discovered mineralisation over a fault zone for about 300 metres.

Broad highlights from Rinaldi include 28 metres at 2.0% copper from 56 metres, which included the much high grade 2 metres at 5.3% copper, 2 metres at 3.5% copper, and 2 metres at 5.7% copper.

The intersections continue, with other top results including:

- 17 metres at 2.8% copper from 35 metres;
- 14 metres at 2.7% copper from 22 metres; and
- 27 metres at 1.3% copper from 65 metres.

Supporting the broad intersections were some very high grade hits including the peak value of 1 metre at 13.4% copper from 50 metres.

The copper sulphide mineralisation consists mainly of chalcopyrite and appears to be hosted by quartz veins within and just above a dolerite intrusion. Importantly, this copper mineralisation zone remains open along strike and down dip with additional reverse circulation drilling to test for extensions.

Kumarina to feed future Horseshoe Lights production

The current plan for Kumarina is to be a potential satellite operation to feed into future Horseshoe Lights production, and the results from the maiden drilling are starting to deliver on this potential. Kumarina was historically worked for copper for around six decades up to the early 1970's, yet there has been little exploration since.

Historical workings extend over nearly 3 kilometres including a 50 metre deep shaft and drives, with recorded production of 481 tonnes of copper ore at 37% copper, and 2,340 tonnes at 17.51% copper.

New drilling to kick off at Kumarina

Horseshoe Metals is already looking to quickly follow-up today's highly encouraging results, with new drilling to kick off this week focusing on the Rinaldi and Kumarina Copper Mine Prospect areas, which is planned to be completed before the end of the year with assays expected in early 2012.

Horseshoe Metals said that as a consequence of this second drilling program, the company has re-scheduled drilling planned for the Horseshoe Lights Project into 2012.

Strategically located

Horseshoe Metals' wholly owned Kumarina is strategically located in what is rapidly becoming a significant emerging copper region in Australia.

The project is 95 kilometres north of Sandfire Resources (ASX: SFR) massive DeGrussa Copper-Gold mine, 90 kilometres north of Ventnor Resources (ASX: VRX) Thaduna Copper Project, and 35 kilometres southwest of Montezuma Mining Company (ASX: MZM) Butcherbird Copper project.

North Show Prospect

In other company news, drilling at the North Show Prospect intersected shallow copper oxide mineralisation associated with the hanging wall of a dolerite intrusion.

Best results were 13 metres at 0.5% copper from 4 metres, including 1 metre at 1.2% copper, 7 metres at 0.5% copper from 21 metres, 10 metres at 0.3% copper from surface, and 11 metres at 0.3% copper from 23 metres.