Horseshoe Metals confirms copper potential

Horseshoe Metals (ASX: HOR) confirmed shallow copper mineralisation in the Motters zone at its Horseshoe Lights project in northern WA.

Assay results from the company’s ongoing drilling program have confirmed the continuity and thickness of oxide mineralisation extending from the surface into multiple primary copper mineralisation zones.

The company is nearing completion of its phase one infill reverse circulation (RC) drilling at the northern end of the Motters zone and plans to commence a phase two program to test the main zone’s northern and southern extensions.

Horseshoe reported in early October that it had intersected shallow, wide copper grades in the early stages of the program.

Horseshoe Lights oxide-copper operations general manager Steven Sickerdick says the latest assays continue to demonstrate the considerable upside and shallow nature of the copper mineralisation.

“These shallow, broad zones of copper mineralisation continue to improve our confidence levels in the oxide resources in this area, as we aim to lift them from inferred to indicated, which will allow their inclusion in a scoping study,” he said.

“As previously reported, we are also moving quickly towards DSO start-up at Horseshoe Lights and we look forward to reporting further updates on progress as activities ramp up over the coming weeks.”

The company is currently mobilising key operations personnel for the commencement of operations at the project after receiving mining approval in July. The company is now investigating the potential for significant early cash flow from sales of existing high-grade copper stockpiles.

The project includes the historical open pit of the Horseshoe Lights copper-gold mine that operated until 1994, producing more than 300,000oz of gold and 54,000t of contained copper — including more than 110,000t of direct shipping ore (DSO) that graded between 20% and 30% copper.