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Horseshoe Metals Drills Deep At Horseshoe Lights In New Copper Campaign

Horseshoe Metals (ASX: HOR) is certainly not resting on its laurels as it embarks on a major drilling campaign at its Horseshoe Lights Copper-Gold Project, with holes up to 450 metres depth planned in the first phase.

This latest drilling campaign follows on from very recent success at the Kumarina Copper Project, where the company discovered some very high grade copper mineralisation.

The rig has now been mobilised at the Horseshoe Lights Copper-Gold Project, strategically located in the highly prospective Bryah Basin in Western Australia.

The diamond drilling program comprises 1,500 metres across four deep drill holes, with additional holes planned subject to the results of the initial holes.

Horseshoe Metals is drill testing a major anomaly identified south east of the existing open pit in a dipole-dipole induced polarisation survey.

The drill program will also test the coinciding South East Shear Zone, where historical drilling intersected zones of running sandy quartz hematite, which was also observed in the Main Zone during previous mining operations.

2011 drilling

To give an indication of the types of copper grades being returned from Horseshoe Lights, in a 2011 reverse circulation drilling program Horseshoe Metals intersected 16 metres at 4.8% copper from 161 metres, including 3 metres at 11.8% copper, and 14 metres at 3.7% copper from 10 metres, including 3 metres at 9.8% copper.

The 2011 program extended the NW Stringer Zone mineralisation 150 metres further to the north.

Horseshoe Metals has outlined a JORC Measured, Indicated and Inferred Resource of 8.6 million tonnes at 1.06% copper and 0.13 grams per tonne (g/t) gold for 91,000 tonnes of contained copper and 37,400 ounces of contained gold.

Kumarina Copper Project

The third drilling program at the Rinaldi Prospect has now wrapped up which comprised seven diamond holes for just over 1,100 metres - with a depth range from 142 metres to 172 metres.

In just the first hole of this program visible copper mineralisation has been observed - with assays from the remaining six holes to be delivered to the market in coming weeks.

Highlights from the first holes included 7 metres at 3.6% copper from 58 metres, including 1 metre at 10.1% copper; and 4 metres at 1.4% copper from 96 metres, including 1 metre at 4.1% copper.

Major discoveries in the area

The region in which Horseshoe is currently operating continues to emerge as a major copper district in Australia, highlighted by the fact that Sandfire Resources' (ASX: SFR) massive DeGrussa Copper-Gold mine is less than 100 kilometres away.

Add to the mix the location 90 kilometres north of Ventnor Resources' (ASX: VRX) Thaduna Copper Project, which recently announced some stellar results including: 37 metres at 2.61% copper from 111 metres, including 10 metres at 7.53% copper; and 62 metres at 2.19% copper from 125 metres, including 32 metres at 3.1% copper.

Kumarina is also 35 kilometres southwest of Montezuma Mining Company's (ASX: MZM) Butcherbird Copper project.

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