Lucky Horseshoe strikes copper

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 25 Jul 2012   Posted by admin


THE prime exploration ground of Peak Hill in Central WA is providing Horseshoe Metals with further success after the explorer and developer reported drill results of up 15.2 per cent copper at its Kumarina project.
The third drilling program at Kumarina consisted of seven diamond drill holes completed at its Rinaldi prospect for a total of 1134m, with the holes ranging in depth from 141.8m to 171.8m.
Assay results from the last six holes have been received, with five intersecting significant copper mineralisation.
Notable intersections included: 14m grading 4.4 per cent copper from 33m, including 4m grading 9 per cent copper  and 1m grading 15.2 per cent copper; and 8m grading 3.11 per cent copper from 17.5m, including 2m grading 9.2 per cent copper.
Horseshoe will undertake additional geological interpretation in the coming weeks to support the planning of future drilling at Rinaldi.
A maiden drilling program in 2011 identified significant copper intersections at Rinaldi along a fault zone of about 300m, which included high copper grades of up to 14.4 per cent.
The company has reported that smaller shaft and underground workings at Rinaldi contain copper in sulphide mineralisation.
Horseshoe stated that while about 580t of copper metal was reported to have been mined from the Kumarina project since its discovery in 1913, the tenement area has been subjected to limited modern exploration.
Meanwhile, the company has completed the first two holes of its Horseshoe Lights drilling program, aimed at testing a dipole-dipole induced polarisation anomaly indentified southeast of the existing open pit. Samples have been submitted to the laboratory for analysis.
A down hole electromagnetic survey is also under way at Horseshoe Lights, which will be used to assist in the planning of future drilling.
Horseshoe’s wholly-owned subsidiary Murchison Copper Mines holds 100 per cent beneficial interests in the Horseshoe Lights and Kumarina projects, which cover 297.1 square kilometres of mining tenements north of Meekatharra in Central WA.

By Reuben Adams


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