TESTING has identified significant copper and gold exploration targets at the Horseshoe Lights mine in WA.
The initial report identified a volcanic-hosted massive sulphide copper and gold deposit at a depth of 200m and the potential new zone of mineralisation begins 400m south of the main site, extending more than 800m.
The mine’s owner Horseshoe Metals commissioned the report from Resource Potential and, while yet to be fully completed, it has already identified the area as having major resource potential.
When compiling the report, geophysicists used data gathered during the last two-and-a-half years, as well as historical information of the area to identify exploration targets for the next stage of drilling, to provide the best possible understanding of the geology of the mine.
The target is considered significant because of the presence of moderately high chargeability anomaly identified on line three of a dipole-dipole induced polarisation (DDIP) survey completed in 2011, and the presence of a coinciding gravity high anomaly identified by a topographically levelled gravity survey completed in late 2012.
The study also took into account historical drilling information that suggested the Narracoota formation contained anomalous cooper.
Horseshoe Metals will use the report to prioritise its targets, with drilling to start in April.
The Horseshoe Lights copper-gold mine was operated intermittently between 1946 and 1994 with past mining producing more than 300,000oz of gold and 54,000t of copper.
Despite 50 years of mining and exploration, the project still has an inferred mineral resource of 91,000t of copper metal and 37,400oz of gold.
Horseshoe Metals is also involved at the Kumarina Copper project which recently reported a maiden mineral resource estimate of 835,000t at 1.3 per cent copper for 10,600t of contained copper at 0.5 per cent cut off grade.
The open strike mineralisation is reported to be shallow – occurring between 2m and 120m in depth.
The site will undergo additional testing and drilling to ascertain the full extension of the mineralisation.