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Horseshoe Metals Ltd.
Summary
| Project: | Horseshoe Lights | |
|---|---|---|
| Deposit: | Horseshoe Lights | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 3/6/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-3-2019: Horseshoe Metals Ltd. announces a Resource Estimation report for its Horseshoe Lights deposit at the Horseshoe Lights project. Statement of mineral resource estimate, unchanged since last estimate. Horseshoe Metals Limited (Horseshoe or the Comp | |
| Resources: | (Resource, Total): 12.85Mt @ 1% Cu, 0.1g/t Au & 1.9g/t Ag in-situ at Horseshoe lights | |
| CP/QP: | [Overall Report]: Craig Hall (Internal) | |
| ABSTRACT: | Horseshoe Metals Limited (Horseshoe or the Company (ASX: HOR) announces that it is undertaking a strategic review of options to deliver best value for shareholders from the Company’s 100% owned Horseshoe Lights Copper-Gold Project, located 75km west of Sandfire Resources NL’s (ASX: SFR) DeGrussa copper-gold mine, in the Bryah Basin region of Western Australia. Following several unsolicited approaches from third parties expressing an interest in Horseshoe Lights, the Company has appointed leading Perth advisory firm PCF Capital Group to carry out a sale process to identify options that deliver best value for Horseshoe shareholders. Any potential sale will be subject to shareholder and any regulatory approvals. The Horseshoe Lights Project includes the closed Horseshoe Lights mine, which operated up until 1994 to produce more than 300,000 ounces of gold and 54,000 tonnes of copper. The Horseshoe Lights orebody has a total (measured, indicated and inferred) JORC Resource of 12.85 Mt @ 1.00% Cu at a 0.5% Cu cutoff (refer Table 1) and is interpreted as a deformed Volcanogenic-Hosted Massive Sulphide (VMS) deposit, hosted by quartz-sericite and quartz-chlorite schists of the Lower Proterozoic Narracoota Formation. A recent campaign of reverse circulation (RC) drilling at Horseshoe Lights (refer ASX:HOR announcement 12th September 2018- “Exploration Update- Horseshoe Lights Project”) returned several significant intercepts including bedrock results of 11m at 1.54% Cu from 72m and 8m at 0.96% Cu from 50m, as well as waste rock landform intercepts of 4m at 2.2g/t Au from 1m and 3m at 1.4% Cu from surface. | |
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