THE DRILL SERGEANT: Horseshoe Metals has continued its run of high-grade copper intersections from an ongoing drilling campaign underway at the company’s 100 per cent-owned Horseshoe Lights copper/gold project, located in the Peak Hill Mineral Field of Western Australia.
The company has been drilling at the Horseshoe Lights project since May 2012 employing a specialist Reverse Circulation Percussion (“RCP”) rig.
The rig has been drilling low angle holes to test for shallow copper mineralisation north along strike of the open pit in 3 zones from west to east comprising the North West, Main and Motters zones.
Source: Company
To date 24 holes have been completed for 3,497 metres, with holes ranging from 63m to 160m in depth while a larger conventional RCP rig has also been on site to drill test some deeper targets with a total of five holes being drilled ranging from 150m to 414m in depth.
Latest laboratory analyses have been received with the results including:
Source: Company announcement
At a cut-off grade of 0.5 per cent copper, the current estimate is a total Measured, Indicated and Inferred Mineral Resource of 8.6 million tonnes at 1.06 per cent copper and 0.13 grams per tonne gold for 91,000 tonnes copper and 37,400 ounces of gold.
The company said it plans to complete a revised mineral resource estimate, split between oxide and sulphide mineralisation, once drilling has been completed.
Commencement of a preliminary feasibility study, potentially based upon a staged redevelopment of the mine, is expected to follow shortly thereafter.
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