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Horseshoe Metals Ltd.
Summary
| Project: | Horseshoe Lights | |
|---|---|---|
| Deposit: | Horseshoe Lights | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 9/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-9-2018: Horseshoe Metals Ltd. announces an Exploration/Drilling Update report for its Horseshoe Lights deposit at the Horseshoe Lights project. Drilling results incl. 11m @ 1.54% Cu from 72m. Horseshoe Metals Limited (ASX: HOR) (“Horseshoe” or “the Com | |
| Resources: | (Resource, Total In-situ): 12.85Mt @ 1.0% Cu, 0.1g/t Au, 1.9g/t Ag | |
| CP/QP: | [Resources]: Dmitry Pertel; Geoff Willetts (CSA Global Pty Ltd.;Internal) | |
| ABSTRACT: | Horseshoe Metals Limited (ASX: HOR) (“Horseshoe” or “the Company”) is pleased to release the results of a 15-hole Reverse Circulation (RC) drilling program completed at its Horseshoe Lights Project located 75 km west of Sandfire Resources NL’s (ASX:SFR) DeGrussa copper-gold mine, in the Bryah Basin region of Western Australia (Figure 7). Previous drilling through Waste Rock Landforms (WRL) at Horseshoe returned elevated copper and gold intersections, and to test this potential an initial twelve hole drill program totalling 180 m was completed on the Northwest and Southern WRLs, to investigate their use as a possible resource for low-capex oxide copper ore treatment (the SMART program). This was followed by a three hole exercise testing the bedrock targets. Results from the WRL drilling showed a range of copper values, with a best result of 3 m @ 1.4% Cu from surface, inside a broader zone of 10 m @ 0.52% Cu, with a maximum value of 2.3% Cu (refer Table 1); and a zone of 4 m @ 2.23 g/t Au from 1m. Notably all anomalous copper zones were recorded from surface on the WRL’s, assisting any possible recovery of potential material for the SMART program. The Company is examining the opportunity for additional targeted holes in the vicinity of better results from this and previous drilling. The best bedrock drilling result was 8m @ 0.96% Cu from 50 m and 11 m @ 1.54% Cu from 72m in broad mineralised zone in Hole RC1144. The Company will also pursue ore sorting technology as a means of improving the grade of the waste and bedrock mineralisation being assessed as part of the SMART program. | |
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